article thumbnail

Monday Morning Accounting News Brief: Accounting Firms Ditch Zoom Interviews; Mississippi’s Best CPA Exam Candidates | 8.28.23

Going Concern

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.

article thumbnail

IRS to Mail Taxpayers in Disaster Areas CP14CL Notices

CPA Practice

Taylor, Kiplinger Consumer News Service (TNS) The IRS, after confusing millions of California taxpayers with tax balance-due notices in May and June, will send follow-up letters to people in states that received extra time to file their federal income tax returns due to severe weather events. 16, 2023 to file.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

$1.5 Billion in Unclaimed Tax Refunds from 2019 Set to Expire in July 2023, Says IRS

CPA Practice

By missing out on filing a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2019. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC). The EITC helps individuals and families whose incomes are below certain thresholds in 2019.

article thumbnail

Employer Payroll Tax Obligations When Employees Work Out-Of-State

Anders CPA

Below we dive into the state and unemployment tax responsibilities employers need to know. Learn more about how we can ensure compliance with state payroll tax withholding requirements and the associated fees by contacting Anders below.

article thumbnail

Feds Cracking Down on Unlawful Tax Return Preparers

CPA Practice

The government alleged that Portorreal prepared tax returns claiming fabricated business income and expenses, as well as various false tax deductions and false non-deductible expenses for her customers to receive the earned income tax credit and the child tax credit.

article thumbnail

Key State Tax Changes for 2024

CPA Practice

Taylor, Kiplinger Consumer News Service (TNS) As we venture into the new year, 2024 brings a wave of changes in state taxes across the country. From gas taxes to property tax amendments and income tax cuts, being aware of these changes is crucial since state and local taxes are among the highest taxes most people pay.

Tax 128
article thumbnail

How the 50 States Rank By Tax Burden

CPA Practice

Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub. Maine has the highest property tax burden, while Alabama has the lowest. 1 being the highest and No.