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Trust, Estate, and Gift Tax TRP Provide for the ability to e-file the following: Form 706, U.S. Estate (and Generation-Skipping Transfer) TaxReturn Form 706-NA, U.S. Estate (and Generation-Skipping Transfer) TaxReturn – Estate of Nonresident Not a Citizen of the U.S. Form 709, U.S.
West Long Branch, New Jersey: Resident Matthew Tucci has pleaded guilty to tax evasion. For 2015 and 2016, he filed taxreturns that stated he owed more than $2 million in taxes for both years but did not fully pay the taxes. On these returns, Edwards admitted that he owed more than $2.5 million in taxes.
OBannon Four tax preparers convicted of defrauding the IRS of nearly $8 million have been sentenced to a combined 105 months in federal prison, the acting United States Attorney for the Northern District of Texas Nancy E. The estimated loss to the IRS from these false taxreturns totaled more than $7.5 in restitution.
Long is committed to modernizing the IRS and providing a taxpayer experience that meets today’s expectations, which includes giving taxpayers transparency into the status of their taxreturns and audits,” the statement said. What is Direct File?
Jason Bramwell Taxes June 23, 2025 IRS Refines Pre-Filing Agreement Tax Certainty Program Improvements made to the IRS Pre-Filing Agreement program will provide greater tax certainty for large business and international taxpayers, the agency announced on June 17.
As accountants and CPAs, dealing with payrolltaxes is essential to managing finances for your business clients. Understanding the details of payrolltaxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. Filing taxreturns and remitting payments on time.
Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payrolltax complications. Multi-state payrolltax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.
ITEP estimated tax payments including sales and excise taxes, property taxes paid directly or on taxes folded into rent payments, and payrolltaxes, which are paid either through paycheck withholding or filing income taxreturns.
Payrolltaxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payrolltax payments. It is not intended to provide any tax advice.
For example, it makes sense to suggest electing S Corp status to your clients when their self-employment tax burden exceeds the tax burden if the corporation converted to an S Corp. For businesses structured as corporations, being an S Corp can help them avoid paying taxes at the corporate and shareholder levels.
Top Remote Accounting Candidates: February 22, 2024 Law & Order Co-Owner of Media Brokerage Firm Sentenced for Filing False TaxReturns [ Department of Justice ] According to court documents and statements made in court, Susan K. From 2012 to April 2018, according to the criminal information document signed by U.S.
How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate.
With May 17th behind us (though for those in Texas, Louisiana and Oklahama — this was just another day. But before we leave taxes in the rearview, let’s address an unfortunate reality: as a business owner, you have a greater number of tax reporting obligations than a regular person has. Teach me and I remember.
In Louisiana , the IRS announced winter storm disaster tax relief for the storms that occurred from February 11, 2021 through February 19, 2021. This applies to the quarterly payrolltaxreturns (Form 941) normally due on April 30, 2021. Unclaimed property includes unpaid wages, payroll or salary.
IRS encourages employers to electronically file payrolltaxreturns [ IRS Newsroom ] The Internal Revenue Service today reminded employers that the best way to file their next quarterly payrolltaxreturn by the Oct. 31, 2023, due date is electronically.
Corporate income tax is a significant source of revenue for governments. In fact, it is the third-largest source of federal revenue, albeit smaller than individual income tax and payrolltaxes. businesses that are not subject to the corporate income tax because they are taxed as “pass-through” entities.
The IRS has posted a final version of the 2021 Form 941 , Employer’s Quarterly Federal TaxReturn and its instructions that take into account the COVID-19 tax credit extensions provided for in the Consolidated Appropriations Act, 2021. 2021 Form 941. additional dollars per hour to $2.25 Filing extension for winter storm victims.
Brian Tankersley , Randy Johnston Taxes July 11, 2025 IRS Provides Tax Relief to Kerr County After Deadly Texas Floods Individuals and businesses in Kerr County, Texas, have until Feb.
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