MyIRSRelief

NOVEMBER 3, 2023

Mike Habib, EA: Your Ally in Navigating Tax Problems Tax issues can be a source of significant stress and confusion. Whether it’s unfiled tax returns, unpaid back taxes, tax audits and appeals, or 941 employment payroll problems, these issues can seem insurmountable.

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CTP

NOVEMBER 15, 2023

Do you feel that you pay too much in tax? The General Accounting Office estimates that Americans over-pay their taxes by almost a billion (yes, that’s billion) dollars each year! That’s why tax planning is gaining in popularity. Some obvious reasons are mistakes or oversights on their tax returns. You’re not alone.

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CPA Practice

JANUARY 8, 2024

With the 2024 tax filing season starting later this month, the IRS is launching a special Tax Professional Awareness Week , from Jan. 8-14, 2024, to assist tax professionals on what to expect during the filing season and start the year on the right foot. 10: Answering Your Frequently Asked Questions on Due Diligence Friday, Jan.

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Cherry Bekaert

SEPTEMBER 15, 2023

Due to the nature of these schools, many extracurricular and supplementary educational offerings that form the basis of these schools’ missions were severely impacted. These programs, along with fundraisers and after-school care, were usually a more than nominal portion of the educational institution’s income.

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MyIRSRelief

DECEMBER 15, 2023

Top 10 Tax Planning Concepts for W-2 Earners As a W-2 earner, understanding tax planning concepts can help you maximize your tax savings and ensure you’re making the most of your income. Here are the top ten tax planning concepts you should know. Call us today at 1-877-78-TAXES [1-877-788-2937].

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MyIRSRelief

OCTOBER 3, 2022

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn. Call us today at 1-877-788-2937.

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MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. The process of resolving tax issues can be overwhelming and stressful for taxpayers, and seeking professional (EA, CPA, Lawyer) tax help can be a wise decision.

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MyIRSRelief

FEBRUARY 1, 2023

Tax anxiety, TAXIETY, comes in different forms of tax problems such as: What is an IRS audit taxiety? An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance with the tax laws.

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MyIRSRelief

OCTOBER 16, 2023

When it comes to navigating the complex world of taxes, understanding deductions and credits is like having a secret treasure map to unlock potential savings. Tax deductions and credits are powerful tools that can help individuals and businesses reduce their tax liabilities, putting more money back in their pockets.

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Snyder

JUNE 9, 2022

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide. What is income tax?

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ThomsonReuters

APRIL 13, 2023

If you have satisfied tax return clients, in many ways you’ve already taken a step towards recurring income. Most likely, they’ll come back next tax season and perhaps from time to time throughout the year as they make key decisions. While there are very few “sure shots” in business, a retainer is the next best thing.

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MyIRSRelief

JUNE 23, 2023

Tax matters can be complex and daunting, and navigating the ever-changing tax landscape can be a challenge. In such a scenario, having a qualified tax professional on your side is invaluable. The Enrolled Agent (EA) – a tax specialist authorized by the U.S. Contact us for professional tax help today!

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MyIRSRelief

DECEMBER 15, 2022

For example, you may want to catch up on your tax filings, prepare for an audit, or simply get a better understanding of your financial situation. This might include accounting software, a financial calculator, and reference materials such as tax guides or accounting textbooks. What is income tax preparation service?

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Ronika Khanna CPA,CA

JANUARY 21, 2022

She hadn’t filed her tax return in a few years mostly because she had one T4, figured that she didn’t owe any tax and was simply procrastinating on an unenjoyable task. Benefits of Filing a Tax Returns Receive a refund—or avoid penalties and interest! In this case you might have overpaid or underpaid your taxes.

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Nancy McClelland, LLC

MARCH 29, 2022

To validate and successfully submit an electronically filed tax return to the IRS , taxpayers need their adjusted gross income, or AGI, from their most recent tax return. The IRS has a couple of “special tips” to ensure the tax return is accepted by the IRS for processing.

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CPA Practice

JANUARY 26, 2024

The IRS Criminal Investigation unit will hold educational sessions for tax professionals about the employee retention credit (ERC) next month, the agency announced on Jan. The program allows those businesses to voluntarily return money they received without having to pay any penalties or interest. Postal Service.

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CPA Practice

APRIL 9, 2024

By Oren Koren Tax season is underway, which means cyber criminals are hard at work. This type of malware poses a severe risk to CPA firms, often starting as a dripping leak but becoming a gushing waterfall, as it can enable unauthorized access to sensitive client data, including tax returns, financial statements, and personal information.

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CPA Practice

FEBRUARY 8, 2024

The IRS and the agency’s Security Summit partners alerted tax professionals on Thursday of a scam email impersonating various software companies in an attempt to steal electronic filing identification numbers (EFINs). A little extra caution can mean a world of difference for tax professionals during this busy period.”

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CPA Practice

AUGUST 14, 2023

A South Carolina woman was sentenced today to 37 months in prison for conspiring to defraud the United States by preparing and filing false tax returns. According to court documents and statements made in court, Georgina Gonzalez, formerly of Miami, worked as a tax return preparer since at least 2013. Attorney Adair F.

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CPA Practice

AUGUST 11, 2023

A South Carolina woman was sentenced today to 37 months in prison for conspiring to defraud the United States by preparing and filing false tax returns. According to court documents and statements made in court, Georgina Gonzalez, formerly of Miami, worked as a tax return preparer since at least 2013. Attorney Adair F.

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MyIRSRelief

MAY 1, 2024

Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon.

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CPA Practice

APRIL 15, 2024

Progress was cited in eliminating most of its tax return backlog, more on-time tax refunds, and improvements in customer service availability and responsiveness. Explosion in data sharing Tax agencies worldwide recognize the untapped potential of integrating new data sources into their processes.

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CPA Practice

NOVEMBER 29, 2023

The hustle and bustle of the holiday season is upon us, and while you’re likely busy hunting for the perfect gifts for your loved ones, don’t forget that you can gift yourself something too—a tax break. Here are five tax-savvy money moves to make now. You may also want to consider investing in a future tax break.

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Ronika Khanna CPA,CA

APRIL 5, 2024

The deadline to file tax returns is quickly approaching, resulting in various degrees anxiety for some taxpayers and accountants. The most effective starting point is to evaluate your tax situation and prepare a checklist of the documentation that you will need with respect to your specific tax situation.

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ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. Whether it’s advising on residential energy tax credits or restructuring a partnership, your knowledge and expertise beyond the tax return are valuable.

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ThomsonReuters

APRIL 17, 2024

The emergence of g enerative artificial intelligence ( GenAI ) has sparked both excitement and apprehension in the tax industry, with professionals divided on its potential impact. The report highlights these contrasting perceptions, shedding light on the complex relationship between tax professionals and this emerging technology.

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ThomsonReuters

APRIL 1, 2021

In response to the continuing COVID-19 emergency, the IRS has offered deadline relief for 2020 federal income tax returns that also extends the deadline for 2020 contributions to HSAs, IRAs, and certain other accounts. Tax Refunds and Credits. Tax Return Preparers. Here are highlights: Form 1040 Series.

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CPA Practice

FEBRUARY 3, 2023

(TNS) A Columbus, GA-based tax preparer has pleaded guilty in federal court to charges that she submitted false claims for tax credits for her clients and also failed to pay her own personal taxes. Nadine Word pleaded guilty to preparing and submitting false tax returns and failing to file her personal tax returns,” James E.

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CPA Practice

MARCH 20, 2023

The Tax Blotter is a round-up of recent tax rulings and legislation. Many of the changes for individuals in the Tax Cuts and Jobs Act (TCJA) are temporary and are scheduled to expire after 2025. But some are permanent provisions of the tax code. The withdrawals are exempt from tax. Use 529 plan for kids.

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Snyder

OCTOBER 30, 2022

Taxes add a big chunk to this plate. Tax filing deadlines and taxes themselves become a really big deal for e-commerce business owners, adding even more stress to their busy lives. But is there a way to escape tax filing season disturbance? How much do small businesses pay in taxes? How to file income tax?

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PYMNTS

JANUARY 15, 2019

Bitcoin investors took a massive hit in 2018 – and, according to personal finance company Credit Karma, most of them don’t realize they can write off the losses on their tax returns. According to a report in MarketWatch , citing Jagjit Chawla, general manager of tax at Credit Karma, U.S. investors lost $1.7

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CTP

SEPTEMBER 16, 2022

By now, everyone has figured out that America’s wealthy and elite are not always avoiding taxes through illegal means. However, thanks to Certified Tax Planners, even a small business owner can get the same huge savings the rich do. MUCH more than an accountant merely reporting your taxes! UNDERSTANDING INCOME LIMITS.

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CPA Practice

JANUARY 30, 2023

Let’s talk about tax refunds… and when taxpayers might get theirs in 2023. This has been the top question we get for more than 10 years: “ When will I get my tax refund? ” The answer is never exact, but we are able to make some educated guesses based on a few factors. Will the 2023 tax filing season be normal?

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CPA Practice

JANUARY 31, 2024

citizen and business owner, I really don’t have a problem with paying the taxes I owe. trillion, net , in federal taxes in 2022) goes toward everything from education, transportation and the country’s defense to Social Security, health care and veterans’ benefits. I understand the money the IRS collects (about $4.3

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xendoo

FEBRUARY 23, 2022

As tax season looms, you may be wondering whether you should have an accountant prepare your taxes. In addition to considering how much an accountant costs , you’ll also want to consider how long an accountant will take to do taxes compared to trying to do it yourself. How do you know when to bring in a tax professional?

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ThomsonReuters

NOVEMBER 15, 2023

Jump to: Which donations are tax deductible? Charitable contributions from IRAs How much of a donation is tax deductible? In addition to helping our communities, these donations can also lead to significant tax benefits. Which donations are tax deductible? Stock or securities donations.

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CPA Practice

SEPTEMBER 18, 2023

Sidney Kess, a nationally renowned tax lawyer and accountant, author of hundreds of tax books on financial and estate planning, educator, and a friend to many in the profession, passed away on Sunday at the age of 97. Kess worked as a tax professional at some of the biggest accounting firms in the nation.

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