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Is Your Income Tax Withholding Adequate?

RogerRossmeisl

Receiving a tax refund essentially means you’re giving the government an interest-free loan. Adjust if necessary Taxpayers should periodically review their tax situations and adjust withholding, if appropriate. The post Is Your Income Tax Withholding Adequate? appeared first on Roger Rossmeisl, CPA.

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‘Where’s My Refund’ Tool Gets Updates – How to Estimate Your 2024 Income Tax Refund Date

CPA Practice

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? ” The IRS and tax professionals strongly encourage electronic filing.

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S Corporations and State Income Taxes

Cherry Bekaert

Contributors: John Ford | Senior Consultant, Government Contracting Industry Practice Tony Konkol | Manager, State & Local Tax Practice As a general rule, corporations are responsible for paying Federal and state taxes on the income they earn. Therefore, state income taxes are generally an allowable cost.

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Common Accounting Mistakes: Government Edition - Issue #8 Unallowable Expenses

SMBAccountant

There are certain expenses that a business incurs that the federal government does not reimburse. While these costs may be legitimate business expenses, the federal government may disallow a cost which means it cannot be reimbursed using the incurred costs rates calculated to reimburse costs for cost contracts.

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Partnership Income Tax Returns & More Skagit County IRS Targets

SkagitCountyTaxServices

The IRS will be focused less on working-class taxpayers and increasingly toward high-income individuals and corporations. Specifically, that means high-income earners, partnership income tax returns, large corporations, and promoters “aggressively peddling abusive schemes.”

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What If you can’t pay your self assessment income tax bill on time

Menzies

If you find in this time of uncertainty that you are unable to pay your self assessment income tax liability, there is help at hand. How you contact HMRC will depend on how much tax you have to pay (see below). To do this start by logging onto the Government Gateway login screen. Congratulations!

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Federal Government Extends Deadlines for Hurricane Ian Victims, States Extensions Are Unclear

Withum

Last week, the Federal Government released guidance allowing certain federal tax filings and payments to be extended until February 15, 2023, for the victims of Hurricane Ian. The lack of state income tax extensions for victims of Hurricane Ian may require additional compliance procedures to avoid penalties. Contact Us.