Withum

OCTOBER 6, 2022

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.

Government 124

Government income tax tax return Florida 124

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

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.

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Tax income tax tax return Pennsylvania 111

Menzies

JANUARY 7, 2024

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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CPA Practice

OCTOBER 30, 2023

The tax forms to which this e-signature flexibility applies include: Form 11-C, Occupational Tax and Registration Return for Wagering Form 637, Application for Registration (For Certain Excise Tax Activities) Form 706, U.S. Source Income of Foreign Persons Form 1066, U.S.

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Inform Accounting

JANUARY 9, 2023

The mandatory use of software for Making Tax Digital for Income Tax Self-Assessment is being phased in from April 2026. Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) was due to be phased in from April 2024. This will replace the need for a Self-Assessment tax return.

income tax 52

income tax Tax tax return Government 52

Withum

SEPTEMBER 21, 2023

In a recently issued notice, #IR 2023-126, the IRS warns that the government is coming after high-income taxpayers who fail to file a tax return. The number of revenue agents, the highly specialized enforcement employees who handle complex tax examinations, fell by 35 percent between 2010 and 2018.

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tax return income tax audit Tax 120

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.

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income tax Tax tax return Government 118

CPA Practice

APRIL 7, 2023

The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.

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tax preparation Tax tax return income tax 132

CPA Practice

FEBRUARY 1, 2024

The IRS started accepting and processing income tax returns on January 29, 2024. The deadline to file returns in 2024 is April 15 (this sometimes varies based on weekends or state holidays). This article includes a handy reference chart taxpayers can use to estimate how soon they may get their income tax refund.

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Tax tax return income tax Massachusetts 111

LyfeAccounting

NOVEMBER 17, 2020

Like, literally, I paid my payroll taxes one-day late by accident, the IRS sent me a penalty for over $1,000. In addition, I didn’t know the requirements of income taxes, especially for self-employed individuals. In this post, I’m going to fully explain the difference between payroll taxes and income taxes.

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CPA Practice

APRIL 5, 2024

(TNS) A Kennewick tax preparer cost the United States $42 million in lost tax revenue between 2017 and 2020 after filing tax returns that were riddled with errors, fabrications and fraudulent entries, alleges the Department of Justice. The Department of Justice filed a civil complaint in Eastern Washington District U.S.

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tax return Tax tax preparation income tax 103

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. 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. Review the sales tax payable account.

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accounting firms Sales Tax tax return 130

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 106

Tax income tax tax return Government 106

CPA Practice

MARCH 12, 2024

After several weeks of testing , the IRS said on Tuesday that eligible taxpayers in 12 states can now use its new Direct File service to submit their tax returns online for free directly with the agency. Our goal with the Direct File pilot is to help people meet their tax obligations as easily and quickly as possible.

South Dakota 108

South Dakota income tax tax return Arizona 108

CPA Practice

FEBRUARY 29, 2024

The Internal Revenue Service has given tax relief for individuals and businesses in parts of Washington state affected by wildfires that began on Aug. These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments. 15, 2023, and Jan. 31, 2023, and Jan.

Washington 98

Washington Tax tax return income tax 98

Xero

AUGUST 11, 2022

Frankly, you already have enough to remember, thanks to Making Tax Digital (MTD) for VAT and Income Tax Self Assessment (ITSA). The government legislation with the goal of digitising the tax process has been underway for some time, and the next step is looming large on the horizon.

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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). tool on the IRS website to check the status of your refund.

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.

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Tax tax return income tax Massachusetts 105

MyIRSRelief

MARCH 15, 2024

In the bustling city of Whittier, California, individuals and businesses alike face the daunting task of navigating the complex world of taxes. From unfiled tax returns to unpaid back taxes, and from employment 941 payroll issues to the intimidating process of IRS, FTB, EDD, and CDTFA audits, the challenges can seem insurmountable.

California 130

California Tax tax return payroll 130

CPA Practice

FEBRUARY 9, 2024

However, if you are among the 68 million people expected to place bets on the big game, you need to know that taxes are part of the equation. So, as we start tax season, here’s what you need to know about what your Super Bowl bet has to do with your tax return. Super Bowl 2024 is on Sunday, Feb. 11 Where?

Gambling 122

Gambling Tax Sports South Carolina 122

CPA Practice

JANUARY 24, 2024

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. The IRS asks that all making such claims include the FEMA disaster declaration number 3604-EM on any return claiming disaster-related losses.

Connecticut 72

Connecticut Tax tax return income tax 72

CPA Practice

JANUARY 8, 2024

The IRS has announced that it will start accepting and processing income tax returns on January 29, 2024. The deadline to file returns in 2024 is April 15 (this sometimes varies based on weekends or state holidays). It is not exact, as all taxpayers have different tax returns, documents, incomes, and other situations.

Tax 98

Tax tax return income tax Massachusetts 98

CPA Practice

APRIL 8, 2023

It’s almost March, and the 2023 tax filing season is well underway. If you haven’t filed your tax return yet and are wondering how long it may take to get your refund when you do file, you’re not the only one looking for the answer. That’s without an expensive “tax refund loan” or other similar product.

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income tax Tax tax return Massachusetts 115

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.

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tax return Tax income tax tax preparation 52

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. Paper check refunds can take a little longer.

Tax 97

Tax tax return income tax Massachusetts 97

CPA Practice

SEPTEMBER 25, 2023

15, 2024, to file their tax returns and make tax payments because of Hurricane Lee’s impact. The IRS is offering tax relief to any area designated by the Federal Emergency Management Agency (FEMA) , and all 16 counties in Maine and all 14 counties in Massachusetts qualify. So, this is more time to file, not to pay.

Massachusetts 115

Massachusetts Maine Tax income tax 115

CPA Practice

JANUARY 30, 2023

Most individual taxpayers won’t have such issues for this tax season. For clarification, the weeks leading up to the April 18, 2023 , deadline is when Americans file tax returns for income they received during the 2022 calendar year, or they can file an automatic extension, which gives them an additional six months to file.

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income tax Tax tax return Massachusetts 105

CTP

DECEMBER 8, 2022

As a tax professional, you may have to overcome your clients’ uncertainty in taking advantage of these loopholes. government to promote property ownership. By enticing taxpayers with tax benefits, more people are able and willing to make this sizable and possibly intimidating financial investment.

Real Estate 98

Real Estate tax planning income tax Tax 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

Going Concern

JANUARY 30, 2024

WaPo report : A former government contractor who leaked a slew of confidential tax records filed by the wealthiest Americans, including those of President Donald Trump, was sentenced Monday to the maximum of five years in prison in what a federal judge called “the biggest heist in IRS history.” ” In court, Biden-appointed U.S.

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tax return Tax income tax New York 97

CPA Practice

SEPTEMBER 1, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. 15, 2024, to file various federal individual and business tax returns and make tax payments. Quarterly estimated income tax payments normally due on Sept. 15, 2023, and Jan.

Tax 119

Tax income tax tax return payroll 119

CPA Practice

FEBRUARY 24, 2023

It’s almost March, and the 2023 tax filing season is well under way. If you haven’t filed your tax return yet and are wondering how long it may take to get your refund when you do file, you’re not the only one looking for the answer. The IRS Started Accepting Returns on Jan. Updated: Feb. 24, 2023: 4:41 pm ET.

income tax 98

income tax Tax tax return Massachusetts 98

CPA Practice

FEBRUARY 27, 2024

The Internal Revenue Service announced today tax relief for individuals and businesses in parts of California affected by severe storms and flooding that began on Jan. These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments. 31 and April 30, 2024.

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tax return income tax California payroll 69

CPA Practice

APRIL 11, 2024

By Jean Ross, InsideSources.com (TNS) If there’s one thing we should be able to agree upon, it’s that everyone should pay the taxes they owe without having to pay for the privilege of doing so. This year, for the first time, residents of 12 states who file simple tax returns can file online for free using the IRS’s new Direct File portal.

Tax 52

Tax tax return income tax Arizona 52

Inform Accounting

OCTOBER 14, 2022

What is still, apparently, going ahead from the mini-budget is: The income tax basic rate cut by 1p to 19p in April 2023. It is clear that the Conservative government is in turmoil right now. Read more of Inform's tax blogs : Struggling to pay tax – What should you do? Taxing cryptoassets: what you need to know.

Government 52

Government Tax corporation tax income tax 52

CPA Practice

SEPTEMBER 13, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in 28 of the state’s 159 counties in Georgia. 15, 2024, to file various federal individual and business tax returns and make tax payments. Quarterly estimated income tax payments normally due on Sept.

Georgia 105

Georgia South Carolina income tax tax return 105