CPA Practice

MARCH 26, 2024

By Alvin Buyinza, masslive.com (TNS) Nearly 940,000 Americans have unclaimed tax returns from 2020 and face a May 17 deadline if they want to get it back, the IRS announced on Monday. In Massachusetts, where 21,800 residents may be owed a refund for 2020, the median refund is about $975. ©2024 Advance Local Media LLC.

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tax return Tax Massachusetts 122

CPA Practice

JANUARY 8, 2024

The IRS has announced that it will start accepting and processing tax returns on Monday, Jan. million individual tax returns to be filed by the April 15, 2024, tax deadline. Although the IRS will not officially begin accepting and processing tax returns until Jan. The agency expects more than 128.7

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Tax tax return income tax Massachusetts 133

CPA Practice

APRIL 15, 2024

It’s Tax Day, so there’s no better time for the IRS to pat itself on the back for a job well done as filing season for most Americans comes to a close. Danny Werfel “Taxpayers continued to see major improvements from the IRS during the 2024 tax season,” he said. “A From the start of tax season on Jan. million calls in 2023.

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Tax tax return Maine Massachusetts 119

TaxConnex

AUGUST 1, 2023

You sell an item to a customer, they decide for whatever reason to return it, and you give them a refund. Except when sales tax becomes involved. One in every five … What are the odds your online company will have to deal with returns and make refunds? And the state or local sales tax you also charged on the purchase?

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CPA Practice

MARCH 27, 2024

By Dave Eisenstadter, masslive.com (TNS) With this year’s tax filing deadline approaching, IRS reporting continues to show millions fewer refunds this year compared with last year. Records obtained from the IRS show that this year’s tax season is on track to have the fewest refunds in at least 15 years.

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Tax Massachusetts tax return Maine 119

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

Withum

JULY 25, 2022

Investors funding early-stage life sciences companies in Massachusetts may be eligible for generous tax incentives under M.G.L. Learn about the Angel Investor Tax Credit and who qualifies, potential tax savings, and how to monetize those savings. What Are the Tax Savings? How Do I Monetize the Tax Savings?

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CPA Practice

JANUARY 29, 2024

The Internal Revenue Service opened the 2024 tax season on January 29, 2024, accepting and processing federal individual tax returns, and announcing that it expects more than 146 million individual tax returns for 2023 to be filed this filing season. The Where’s My Refund? Paperless processing. Online Account.

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CPA Practice

FEBRUARY 28, 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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income tax tax return Tax Massachusetts 115

CPA Practice

APRIL 26, 2024

With the 2024 filing season in the rearview mirror, the IRS provided an update Friday on how well its Direct File pilot program fared this year but said little about what the future holds for its prized tax-filing service. More than 5,000 accepted returns were processed each day during the final week of filing season.

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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). That’s without an expensive “tax refund loan” or other similar product.

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Tax income tax tax return Massachusetts 98

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

JULY 10, 2023

Jump to: What is use tax? Sales tax vs. use tax Summary Sales tax and use tax are important sources of revenue for the government but properly calculating, collecting, and reporting these taxes can quickly get complicated. What is use tax? How does use tax work? What is nexus?

Tax 98

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CPA Practice

AUGUST 21, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) Businesses that sell marijuana have a heavy federal income tax burden. They are taxed on their income but can’t write off most of their business expenses. Here is the main federal income tax implication. Legal marijuana businesses are an enforcement priority of the IRS.

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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. That’s without an expensive “tax refund loan” or other similar product.

Tax 105

Tax tax return income tax Massachusetts 105

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.

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Tax tax return income tax Arizona 52

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). In fact, for more than 10 years, the top question we receive has been: “ When will I get my tax refund? ”

Tax 98

Tax tax return income tax Massachusetts 98

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. That’s without an expensive “tax refund loan” or other similar product.

Tax 97

Tax tax return income tax Massachusetts 97

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. People face a July 17 deadline to file their returns.

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

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. T he Tax Deadline is April 18, 2023?

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income tax Tax tax return Massachusetts 115

TaxConnex

DECEMBER 10, 2020

States may be getting tougher on sales tax delinquents as the pandemic drags on and tax revenues, in many places, take hits. area company must pay back more than $95,000 after pocketing sales tax money owed to the state, according to authorities. TaxConnex provides services to become your outsourced sales tax department.

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Sales Tax Ohio Nebraska 158

BuildYourFirm

MARCH 31, 2020

Episode 066: Look at the Film Industry Tax Credit Business with Irene Waschler. Tune in to this episode when host Hugh Duffy talks with Irene Waschler of Waschler CPA, LLC about how she got started in the film industry tax credit business. Guest Bio: Irene Waschler CPA, Certified Tax Coach. Irene graduated with a B.S.

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CPA Practice

APRIL 7, 2023

Taxpayers who are unable to file their tax return by this year’s April 18 deadline have an easy, online option to get more time to complete their return. However, taxpayers should be aware that: An extension to file their return does not grant them an extension to pay their taxes. percent per month.

Tax 98

Tax tax return Massachusetts Maine 98

TaxConnex

DECEMBER 23, 2021

If you and your company haven’t been hit with a sales tax audit yet, congrats. In TaxConnex’s recent market survey more than one in four (26.7%) top finance professionals in a variety of industries report seeing an increase in state sales tax audits in the past two years. Sales Tax Audit Triggers. What if you do get caught?

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audit Sales Tax auditor 168

Withum

MARCH 22, 2024

Most people are aware that we are in tax filing season with individual returns due April 15th (or April 17th for those living in Maine and Massachusetts). CPAs, EAs, and professional tax preparers see many clients this time of year and they are obviously busy with this work. And do not forget to file your return on time.

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tax preparation Tax cpas Massachusetts 59

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).

Tax 52

Tax income tax tax return Massachusetts 52

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. T he Tax Deadline is April 18, 2023? The IRS Started Accepting Returns on Jan.

income tax 98

income tax Tax tax return Massachusetts 98

CPA Practice

JANUARY 29, 2024

It’s back to regular IRS deadlines this year, but with a new tool for many low- and moderate-income households: a service that will prepare and file their tax returns online for free. It’s also the first service from the agency itself that guides you through the process of filling out your return. There’s a catch, however.

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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? ” Will the 2023 tax filing season be normal? These were also sometimes given as a credit on a taxpayer’s taxes, if they did not receive payment directly.

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income tax Tax tax return Massachusetts 105

CPA Practice

FEBRUARY 11, 2023

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.

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Rhode Island South Carolina income tax Idaho 131

CPA Practice

MARCH 4, 2024

Taxpayers can now learn if they’re eligible to use the Direct File pilot program to file their 2023 tax return on the IRS website , which contains an easy step-by-step guide to help walk them through the process.

South Dakota 64

South Dakota New Hampshire Wyoming Nevada 64

Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

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payroll tax payroll Rhode Island Tax 98

CPA Practice

APRIL 14, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. Under the law, taxpayers usually have three years to file and claim their tax refunds.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

APRIL 13, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. Under the law, taxpayers usually have three years to file and claim their tax refunds.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

MARCH 14, 2023

Person means a citizen or tax resident of the United States, a domestic corporation, domestic partnership, any estate other than foreign estates, U.S. The FBAR filing deadline follows the Federal income tax return filing deadlines. FBAR returns are filed separately from the taxpayer’s federal tax returns.

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inDinero Accounting

DECEMBER 5, 2023

The Qualified Small Business Exemption (QSBS exemption) can shield up to $10 million, and sometimes more, of stock appreciation from capital gains tax. The rules are complex but worth understanding; there are substantial tax savings to be had by claiming this rare exemption. Table of Contents What is the QSBS Exemption?

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ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. Next, in 1939, the Federal Unemployment Tax Act (FUTA) was passed, which resulted in an employer tax (typically, 0.6%

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