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. Usually, the payer (e.g.,

Gambling 122

Gambling Tax Sports South Carolina 122

CPA Practice

FEBRUARY 11, 2023

The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns. During a review, the IRS determined it will not challenge the taxability of payments related to general welfare and disaster relief.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

CPA Practice

MAY 8, 2023

IRS migration data was gathered using federal tax returns filed in 2020 and 2021 on which taxpayers indicated that they moved (between 2019 and 2020) from one state to another. Californians flee to low-tax states In terms of people looking for low-tax states, California lost more residents than any other state, according to the data.

New York 125

New York California North Carolina South Carolina 125

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. Need to file a 2019 tax return?

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

Cherry Bekaert

NOVEMBER 6, 2023

Company Background An award-winning residential real estate home builder with projects in Georgia and South Carolina was able to take advantage of the Section 45L Energy Efficient Home Credit (Section 45L) to save more than $350,000. The Company has five operating locations and 19 employees.

Real Estate 75

Real Estate Construction South Carolina Tax 75

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

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. People face a July 17 deadline to file their returns. million people across the U.S.

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. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

Anders CPA

SEPTEMBER 28, 2022

Many states don’t require a company to collect tax if all they provide is nontaxable services. How a state may define SaaS could determine if a company is required to file a sales tax return in a particular state, regardless of if SaaS is actually taxable by law within that given state.

Rhode Island 52

Rhode Island West Virginia South Dakota South Carolina 52

CPA Practice

MARCH 21, 2024

This blog post sheds light on what makes personal property tax compliance in certain states particularly tricky. The personal property tax forms and procedures conundrum Filing property tax returns is the first hurdle your company must overcome if you do business in any of the 37 states that tax tangible personal property.

Rhode Island 119

Rhode Island Tax Arizona South Carolina 119

CPA Practice

OCTOBER 27, 2023

The Internal Revenue Service is reminding employers that the best way to file their next quarterly payroll tax return by the Oct. E-filing is the most secure, accurate method to file returns, and saves time. The second option for employers is to hire a tax professional to prepare and file their employment tax returns.

payroll tax 105

payroll tax payroll South Carolina Tax 105

CPA Practice

JANUARY 3, 2024

Child tax credit for 2024 Additionally, several states have increased child and dependent tax credits for 2024. Colorado’s expanded child tax credit of up to $1,200 per child is effective for 2024 (tax returns normally filed in early 2025). Massachusetts now has one of the highest child tax credits in the U.S.

Tax 128

Tax Kansas income tax Montana 128

CPA Practice

APRIL 10, 2023

States typically take one of five different approaches to taxing accommodations: A single, statewide tax on accommodations but no additional local taxes (e.g., Connecticut, Maine, New Hampshire) A combined state/local sales tax on accommodations and local jurisdictions can impose an additional local accommodations tax (e.g.,

Tax 85

Tax West Virginia Wisconsin Virginia 85

ThomsonReuters

MARCH 15, 2021

The IRS has posted a final version of the 2021 Form 941 , Employer’s Quarterly Federal Tax Return and its instructions that take into account the COVID-19 tax credit extensions provided for in the Consolidated Appropriations Act, 2021. 2021 Form 941. Unemployment and Support payments extended.

payroll 98

payroll Connecticut Massachusetts income tax 98

Going Concern

MARCH 22, 2023

The work was performed in New York pursuant to a Nondisclosure Agreement drafted under New York law, on companies managed out of an office at 725 Fifth Avenue in Manhattan, and included the preparation of New York State tax returns. The post Whitley Penn Finds Out New Yorkers Do Not F Around appeared first on Going Concern.

New York 99

New York South Carolina Texas CPA 99