CPA Practice

AUGUST 30, 2024

29—FARMINGTON — An accountant pleaded guilty in Bridgeport Thursday to filing fraudulent tax returns for multiple years after failing to report $1.4 S Attorney’s Office for the District of Connecticut. Legowski prepared tax returns for between 400 and 500 individual clients, 50-60 businesses, the U.S.

Connecticut

MyIRSRelief

APRIL 15, 2022

Our tax firm assists, helps and represents taxpayers facing tax problems such as unfiled tax returns, unpaid delinquent back taxes, IRS and state audits , payroll 941/940 problems, tax levies, liens, garnishments and other collection issues. Get tax relief representation and complete resolution today!

Connecticut

CPA Practice

SEPTEMBER 10, 2024

The extended deadlines are limited to flood-damaged areas of Fairfield, New Haven and Litchfield counties in Connecticut, as well as Suffolk County in New York that sustained damage in the historic Aug. Also delayed will be the deadlines for quarterly payroll and excise tax returns normally due at the end of October and January.

Connecticut

TaxConnex

DECEMBER 10, 2020

The company has paid nearly $69,000 in restitution for sales tax it collected and failed to pay to state coffers between June 2011 and December 2015. The case was referred to investigators after an auditor found that the business hadn’t filed quarterly sales tax returns or remitted sales tax collected for that period.

Sales

TaxConnex

JUNE 11, 2024

Sales tax registration is usually free or remarkably cheap ( Arizona seems to like the amount $12) though Connecticut charges $100. Some states charge nothing to register electronically but do charge for paper registrations (many states also require electronic filing and sales tax remittance, too).

Sales

CPA Practice

JANUARY 24, 2024

(TNS) The IRS announced Monday that tax relief for individuals and businesses in flood-stricken parts of Connecticut would be made available. IRS officials announced the agency would extend its April 15 filing deadline for those taxpayers, who now have until June 17, 2024 to submit tax returns and make tax payments.

Connecticut

CPA Practice

FEBRUARY 11, 2023

The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns. During a review, the IRS determined it will not challenge the taxability of payments related to general welfare and disaster relief.

Rhode Island

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. Need to file a 2019 tax return?

Rhode Island

TaxConnex

AUGUST 1, 2023

Have you already filed your sales tax return based on the original amount of sales tax charged? General rules, specific states Almost all the states (and the District of Columbia) that impose a sales tax generally allow retailers to deduct or exclude sales tax refunds for returned goods from taxable sales.

Sales

CPA Practice

OCTOBER 4, 2024

For the 2025 tax filing season, Direct File will also be available in Alaska, Connecticut, Idaho, Kansas, Maine, Maryland, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania and Wisconsin. It guides taxpayers through a series of questions to prepare their federal tax return step-by-step.

Alaska

CPA Practice

AUGUST 21, 2023

They are taxed on their income but can’t write off most of their business expenses. Section 280E of the federal tax code bars marijuana firms from claiming business expenses on their federal tax return other than for their cost of goods sold. Look for more states to follow suit. _

income tax

CPA Practice

AUGUST 9, 2024

Ashley’s expertise spans a variety of client engagements, including accounting, compliance, tax return preparation, and special projects, making her a valuable asset to the firm. Gatchell Joins Nathan Wechsler & Company, PA as an Associate Concord, NH Nathan Wechsler & Company, PA, recently announced the addition of Ashley M.

Ohio

Cherry Bekaert

MAY 16, 2023

S corporations are corporations that elect to pass corporate income, losses, deductions and credits through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed at their individual income tax rates.

income tax

CPA Practice

JULY 31, 2024

Ashley’s expertise spans a variety of client engagements, including accounting, compliance, tax return preparation, and special projects, making her a valuable asset to the firm. Gatchell Joins Nathan Wechsler & Company, PA as an Associate Concord, NH Nathan Wechsler & Company, PA, recently announced the addition of Ashley M.

Ohio

PYMNTS

APRIL 23, 2020

One 73-year-old Connecticut resident is wondering if she’s eligible for payment based on her 2018 or 2019 tax returns after being laid off from a nonprofit. Other notifications could say that one has been deemed eligible, but that the payment status is still unknown.

Wisconsin

Anders CPA

MAY 23, 2023

State Payroll Reciprocity Agreements It’s possible for remote or out-of-state workers to be taxed twice, but this double taxation can be resolved by the taxpayer when preparing their state tax returns. The taxpayer would then be refunded for taxes withheld unnecessarily from their paycheck.

payroll tax

CTP

FEBRUARY 29, 2024

As an accountant, you must know that Connecticut, Illinois, Indiana, and Wisconsin do not allow casual gamblers to deduct gambling losses. Your clients can deduct gambling losses as professional gamblers, but their returns may be strictly scrutinized. Gambling losses are not deductible in Connecticut or North Carolina.

Gambling

CPA Practice

APRIL 14, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island

CPA Practice

APRIL 13, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island

CPA Practice

FEBRUARY 29, 2024

Businesses with income from farming or fishing that have not paid all of their 2023 tax year estimated taxes by Jan. 16 must file their tax returns and pay their entire tax due on or before March 1. Only those taxpayers that have paid their estimated tax payments by Jan.

Rhode Island

inDinero Tax Tips

DECEMBER 13, 2022

The tax credit can also carry over for up to 20 years, so even if you don’t have a federal income tax liability this year , then it is still well worth investigating your eligibility for the R&D tax credit. Alongside the federal R&D tax credit, the majority of states offer similar benefits for state taxes.

Tax

Going Concern

JUNE 23, 2023

Stamford’s Accounting Department Isn’t Doing the Basics, According to Outside Auditor [ Connecticut Examiner ] Elected members of the Board of Finance seemed taken aback when the city’s contracted auditor explained why the annual financial report due to the state on Dec. 31 is still not finished. Scott Bassett, a partner with the U.S.

cpa firm

Anders CPA

SEPTEMBER 28, 2022

Many states don’t require a company to collect tax if all they provide is nontaxable services. How a state may define SaaS could determine if a company is required to file a sales tax return in a particular state, regardless of if SaaS is actually taxable by law within that given state.

Rhode Island

CPA Practice

APRIL 10, 2023

States typically take one of five different approaches to taxing accommodations: A single, statewide tax on accommodations but no additional local taxes (e.g., Connecticut, Maine, New Hampshire) A combined state/local sales tax on accommodations and local jurisdictions can impose an additional local accommodations tax (e.g.,

Tax

CPA Practice

APRIL 19, 2024

However, Connecticut and Illinois both require businesses to count sales made through a registered marketplace when calculating their economic nexus thresholds. Connecticut allows marketplace facilitators to report their sales together with third-party sales, or to obtain a separate tax registration sub-number for marketplace sales.

Tax

CPA Practice

SEPTEMBER 17, 2024

Since joining the firm in 2021, Brianna has excelled in accounting, auditing, compliance, financial statement preparation, tax return preparation, and special projects. Nathan, who joined the firm in 2022, has shown outstanding proficiency in accounting, compliance, tax return preparation, business valuations, and special projects.

Construction

ThomsonReuters

OCTOBER 6, 2021

The only type of business that must pay state income tax the way an individual does is a traditional corporation, otherwise known as a C corporation or C corp. This is because C corps are considered taxable entities; they are required to file state tax returns separate from the personal returns filed by their owners and employees.

income tax

CPA Practice

NOVEMBER 29, 2023

Coverage addresses the complexities arising from the new PTE tax regimes and combined reporting issues. Ethical Challenges Associated With Tax Filings A client or colleague messes up a tax return, failed to timely file a return, or perhaps needs to correct a return previously filed. So, Now What Do We Do?

New York

CPA Practice

JUNE 20, 2023

There was also an option to take some or all of the credit as a lump sum when filing annual tax returns. Rosa DeLauro of Connecticut, Suzan DelBene of Washington and others would increase the size of the credit in the month a baby is born to $2,000. Under the original benefit expansion, the payment would be $300 per month.

Tax

ThomsonReuters

JUNE 11, 2024

Convenience of employer Convenience in the employer rule states that payroll tax is withheld and paid where the employer is located, not necessarily where the employee is working. Currently, only a few states have adopted the convenience of the employer rule, including New York, Connecticut, Delaware, Nebraska, Pennsylvania, and New Jersey.

accounting firms

ThomsonReuters

JANUARY 16, 2024

However, for those taxpayers with legitimate claims, the ERC may be claimed for the 2020 tax periods by April 15, 2024, and for the 2021 tax periods by April 15, 2025, using Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund. The IRS provides an ERC eligibility checklist for assistance.

Tax

ThomsonReuters

MARCH 15, 2021

The IRS has posted a final version of the 2021 Form 941 , Employer’s Quarterly Federal Tax Return and its instructions that take into account the COVID-19 tax credit extensions provided for in the Consolidated Appropriations Act, 2021. 2021 Form 941. This executive order will remain in effect for the duration of the pandemic.

payroll

ThomsonReuters

FEBRUARY 9, 2022

The DOL also has a list of potential FUTA credit reduction states for tax year 2022, which includes California, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, New Jersey, New York, Pennsylvania, and the U.S. Department of Labor (DOL) announces the list of FUTA credit reduction states each November. Virgin Islands.

payroll

ThomsonReuters

JUNE 28, 2021

The IRS has issued the much anticipated revised Form 941 , Employer’s Quarterly Federal Tax Return, and its instructions for used beginning with the second quarter of 2021. Alabama has announced tax filing and payment extensions to state taxpayers affected by Topical Storm Claudette. This includes withholding taxes.

payroll

ThomsonReuters

MARCH 8, 2021

Connecticut Governor Lamont issued a statement praising the Connecticut House of Representatives’ fast-tracking of House Bill 6516, which extends a credit for the taxes paid to other states due to workers telecommuting during the COVID-19 pandemic for the taxable year commencing January 1, 2020.

payroll

Going Concern

JANUARY 5, 2024

As the accounting industry continues to move away from commoditized audit and tax services to value-based delivery of holistic business solutions, technology is key to enhancing this value through increased efficiencies and heightened support of our role as trusted business advisors. Trump business got at least $7.8

tax return

TaxConnex

APRIL 8, 2025

The exemption doesnt necessarily apply to local sales taxes, such as those of a given parish in Louisiana, a state already infamous for its complex sales tax structure. (As As of this year, parish tax returns must include new line items for prescription drug sales.)

Sales