CPA Practice

SEPTEMBER 29, 2023

The federal government will partially shut down at 12:01 a.m. on Sunday, barring a last-minute deal between Republicans and Democrats in Congress to keep the government funded. million Americans file their 2022 income tax returns before the Oct. 16 tax extension deadline.

Government 119

Government tax return income tax Tax 119

RogerRossmeisl

AUGUST 4, 2021

There’s a harsh tax penalty that you could be at risk for paying personally if you own or manage a business with employees. It’s called the “Trust Fund Recovery Penalty” and it applies to the Social Security and income taxes required to be withheld by a business from its employees’ wages. Wide-ranging penalty The Trust Fund.

income tax 246

income tax CPA Tax Government 246

TaxConnex

NOVEMBER 22, 2022

In our blog last week, we looked at how sales and use tax advisory services might be a good new field for CPAs and accounting firms. Mark Friedlich, CPA, vice president of U.S. Accounting and CPA firms looking to expand their services into the sales and use tax niche, often have pent-up demand within their own client base.

accounting firms 130

accounting firms Sales Tax tax return 130

LyfeAccounting

NOVEMBER 17, 2020

In addition, I didn’t know the requirements of income taxes, especially for self-employed individuals. I thought you just paid your income taxes once per year when you filed your tax return, but NO – I was penalized over $4000 because I didn’t make quarterly “ estimated tax payments ”.

income tax 52

income tax payroll tax payroll Tax 52

Going Concern

FEBRUARY 23, 2024

Sadly, I had to argue with them over their own language in black and white on how… — Eric Pierre, CPA (@yourfavecpa) February 22, 2024 Deloitte’s Adam Powick wrestles with the complaints of former staff and directors about the pressure to perform in a gruelling corporate culture. in last 12 months.

CPA 99

CPA Illinois auditor Iowa 99

RogerRossmeisl

NOVEMBER 25, 2023

The IRS recently announced various 2024 inflation-adjusted federal tax amounts that affect individual taxpayers. Most of the federal income tax rate bracket thresholds are about 5.4% more income next year without owing more to the federal government. higher than for 2023.

Tax 100

Tax income tax CPA Government 100

CPA Practice

SEPTEMBER 26, 2023

Taylor, Kiplinger Consumer News Service (TNS) The prospect of a government shutdown is spotlighting several federal agencies. After releasing a multibillion-dollar spending plan for the funding, the IRS launched new compliance initiatives focused on tax-evading millionaires, high earners, complex partnerships, and corporations.

Government 111

Government audit Tax Washington 111

CPA Practice

DECEMBER 7, 2023

The Earned Income Tax Credit is singled out in the indictment, appearing to indicate it was the instrument of choice Oliver used to commit fraud. For his other clients, Oliver claimed false business income or loss and total expenses when preparing the returns for tax years 2018 through 2020. Government.

West Virginia 98

West Virginia Tax Virginia CPA 98

CPA Practice

OCTOBER 4, 2023

By Bruce Willey, JD, CPA, Kiplinger Consumer News Service (TNS) Now that the U.S. Supreme Court has agreed to take up a lower court decision on taxation ( Moore v United States ) that could open or slam the door on a federal wealth tax, it’s worth a deep dive into just how terrible a wealth tax would be for American taxpayers.

Tax 106

Tax income tax Hawaii Oklahoma 106

CPA Practice

FEBRUARY 1, 2024

The IRS started accepting and processing income tax returns on January 29, 2024. This article includes a handy reference chart taxpayers can use to estimate how soon they may get their income tax refund. When will I get my tax refund? ” is one of the most common questions for many taxpayers.

Tax 112

Tax tax return income tax Massachusetts 112

CPA Practice

APRIL 16, 2024

By Justin Sink, Bloomberg News (TNS) President Joe Biden and first lady Jill Biden paid $146,629 in federal income taxes on a combined $619,976 in adjusted gross income in 2023—meaning the first family paid an effective federal income tax of 23.7%—according according to tax filings released by the White House.

Tax 111

Tax income tax tax return Pennsylvania 111

CPA Practice

NOVEMBER 22, 2023

December is here, which means the 2024 tax filing season is coming soon. The IRS usually starts accepting e-filed income tax returns in the last week of January each year, with the deadline being April 15 (which can vary based on weekends or state holidays). So, here’s the chart you were looking for. 22, 2024. * 29, 2024 Feb.

Tax 98

Tax income tax tax return Massachusetts 98

CPA Practice

DECEMBER 26, 2023

It’s almost January, which means the 2024 income tax filing season is coming soon. Although last minute tax law changes can have an impact, the IRS usually starts accepting e-filed income tax returns in the last week of January each year. Updated: Dec. 26, 2023 , 9:31 pm ET. Paper check mailed sent apx. 16)** Feb.

Tax 106

Tax tax return income tax Massachusetts 106

CPA Practice

APRIL 8, 2023

One bit of great news is that the IRS has been processing tax returns this year even faster than in the last few years, when it was still struggling to overcome issues related to the pandemic. The IRS says most e-filed tax refunds are direct deposited into taxpayer bank accounts in as little as 10 days. 23, 2023 Feb. 30, 2023 Feb.

income tax 116

income tax Tax tax return Massachusetts 116

CPA Practice

JANUARY 30, 2023

Will the 2023 tax filing season be normal? It will likely be closer to normal than it has been since 2019, the last tax filing season before COVID-19 caused widespread office closures, even at the IRS, which delayed the 2020 tax filing deadline by several months. tool on the IRS website. 23, 2023 Feb. 30, 2023 Feb. 17)** Feb.

income tax 106

income tax Tax tax return Massachusetts 106

CPA Practice

JANUARY 8, 2024

The IRS has announced that it will start accepting and processing income tax returns on January 29, 2024. This article includes a handy reference chart taxpayers can use to estimate how soon they may get their income tax refund. So, here’s the chart you were looking for. Paper check mailed sent apx.

Tax 98

Tax tax return income tax Massachusetts 98

CPA Practice

SEPTEMBER 1, 2023

The IRS has provided guidance on the federal tax status of refunds of state or local taxes and certain other payments made by state or local governments to individuals. The IRS previously provided guidance on state payments made in 2022: IRS issues guidance on state tax payments to help taxpayers.

income tax 118

income tax Tax tax return Government 118

CPA Practice

DECEMBER 15, 2023

It’s almost January, which means the 2024 income tax filing season is coming soon. Although last minute tax law changes can have an impact, the IRS usually starts accepting e-filed income tax returns in the last week of January each year. So, here’s the chart you were looking for. Paper check mailed sent apx.

Tax 97

Tax tax return income tax Massachusetts 97

CPA Practice

JANUARY 18, 2024

A small group of tax-exempt organizations will have to wait a little longer to electronically file two tax forms to the IRS while the agency performs system upgrades. The IRS said on Thursday that tax-exempt groups won’t be able to e-file Form 990-T , Exempt Organization Business Income Tax Return , or Form 1120-POL , U.S.

Tax 107

Tax income tax tax return Government 107

Shay CPA

MAY 1, 2024

As a best practice, you should look carefully into the laws governing any state where your employees want to work. Sometimes, both the state in which you operate and the state where the employee lives will require income tax withholding. Again, this hinges on state law, and it can get complicated.

Tax 52

Tax income tax New Jersey Education 52

Going Concern

AUGUST 28, 2023

Two Mississippi State University grads were recognized for getting the highest CPA exam scores in their state : Karis Pannel, of Tupleo’s Byrne Zizzi CPAs, received the MSCPA’s Fred T. We are very proud of Karis and Gelsey and their performance on the CPA exam,” said MSU College of Business Dean Scott Grawe. Dead silence.

accounting firms 52

accounting firms CPA Account accountant 52

CPA Practice

FEBRUARY 24, 2023

One bit of great news is that the IRS has been processing tax returns this year even faster than the last few years, when it was still struggling to overcome issues related to the pandemic. Depending on when a taxpayer files, they can often receive their tax refund payments (check or direct deposit) within only 2-3 weeks. 30, 2023 Feb.

income tax 98

income tax Tax tax return Massachusetts 98

CPA Practice

OCTOBER 30, 2023

Source Income of Foreign Persons Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return Form 1120-C, U.S. Income Tax Return for Cooperative Associations Form 1120-FSC, U.S. Income Tax Return of a Foreign Sales Corporation Form 1120-H, U.S.

tax return 132

tax return income tax Real Estate Tax 132

CPA Practice

MARCH 12, 2024

By Zina Hutton, Governing (TNS) No one likes paying taxes and property taxes are always the least popular. Some lawmakers are now looking to eliminate them entirely, with anti-tax initiatives also being proposed for this year’s ballots. c)2024 Governing. Visit Governing at www.governing.com.

North Dakota 114

North Dakota Idaho Tax Michigan 114

CPA Practice

FEBRUARY 6, 2024

We predict that at least two more states will enact elective PTE taxes, despite the looming expiration of the federal SALT cap. Income tax rate fluctuations States are facing a very uncertain and non-uniform fiscal environment at the moment, affording some, but by no means all, states the ability to reduce state income tax rates.

South Dakota 124

South Dakota Tax Maryland income tax 124

CPA Practice

MAY 25, 2023

Carey and I are partnering on this commonsense bill to create a simple and easy way to pay estimated taxes while filing for an extension so we can make tax filing season less of a hassle for the IRS and taxpayers. I’m proud to partner with Rep.

Tax 98

Tax income tax tax return CPA 98

CPA Practice

SEPTEMBER 28, 2023

The American Institute of CPAs has submitted a letter to the Department of the Treasury, the Internal Revenue Service (IRS) and Congressional leadership requesting the release of the IRS contingency plan that would go into effect in the event of a government shutdown on October 1, 2023.

Government 52

Government tax return cpas Tax 52

Nancy McClelland, LLC

FEBRUARY 24, 2024

Luckily, recent Congressional funding to make up for years of inadequate budgets, combined with Treasury Secretary Yellen’s direction that IRS priorities should include clearing the backlog of unprocessed tax returns and improving customer service, seem to be making a difference. There are products in English and Spanish.

tax return 52

tax return Tax income tax tax preparation 52

CPA Practice

APRIL 7, 2023

In December 2022, Eunice Salley, a Chicago tax preparer, was sentenced to seven years in prison for filing false income tax returns on behalf of her tax preparation clients seeking more than $1 million in fraudulent refunds. Examples of civil injunctions obtained by the Tax Division over the last year include: On Jan.

tax preparation 132

tax preparation Tax tax return income tax 132

CPA Practice

MARCH 12, 2024

After completing their federal returns, taxpayers in the states with a state-income tax—Arizona, California, Massachusetts, and New York—will be guided to a state-sponsored tool to complete their state tax return, the IRS said. This includes 5.2 million in California, 3.8 million in Texas, 2.8 million in New York, 2.4

South Dakota 109

South Dakota income tax tax return Arizona 109

CPA Practice

APRIL 5, 2024

Taylor from preparing federal tax returns or owning or operating a tax return preparation business. Many customers now face large income tax deficiencies and may be liable for sizable penalties and interest,” after Taylor understated their tax liability or inflated their refunds, according to a court document.

tax return 103

tax return Tax tax preparation income tax 103

CPA Practice

JUNE 13, 2023

federal income tax, even if a foreign country also taxes you. However, you may be eligible for a unique tax break. A long as certain requirements are met, you can claim the foreign earned income exclusion on a substantial portion of your foreign income—maybe even all of it. If you’re a U.S. citizen or a U.S.

income tax 116

income tax Tax Government 116

CPA Practice

NOVEMBER 20, 2023

It’s almost December, which means the 2024 tax filing season is coming soon. The IRS usually starts accepting e-filed income tax returns in the last week of January each year, with the deadline to file returns being April 15 (which can vary based on weekends or state holidays). So, here’s the chart you were looking for.

Tax 52

Tax income tax tax return Massachusetts 52

CPA Practice

SEPTEMBER 25, 2023

The IRS noted, however, that because tax payments related to these 2022 returns were due on April 18, 2023, those payments are not eligible for this relief. Quarterly estimated income tax payments normally due on Sept. Quarterly payroll and excise tax returns normally due on Oct. So, this is more time to file, not to pay.

Massachusetts 115

Massachusetts Maine Tax income tax 115

CPA Practice

APRIL 16, 2024

“WLR programs work with subject-matter specialists who are trained in helping employees navigate through work-life challenges involving access to and eligibility for child and elder care, health care, government and employer-provided benefits, and legal and financial issues.”

income tax 113

income tax Legal Tax Government 113

CPA Practice

DECEMBER 7, 2023

Three rounds of stimulus checks—known officially as Economic Impact Payments—were sent by the federal government to income tax filers between March 2020 and March 2021 as a way to offset some of the hardships of the COVID pandemic. “There is no fourth round of [stimulus checks] from the Treasury Department,” he said.

Montana 119

Montana Idaho New Mexico Illinois 119

Withum

MAY 4, 2022

The budget bill, which was signed into law on April 9, 2022, also accelerates individual income tax rate reductions, adds new or modifies some existing tax credits, among other provision changes. A full credit similar to the New York PTET is available on the owner level to offset against their personal income tax.

income tax 112

income tax New York Tax New Jersey 112