The approaching tax filing extension deadline is Monday, October 16th. We urge all taxpayers that requested a filing extension for their 2022 tax return to finalize and submit their Form 1040 by this date to prevent any late filing penalties. Please note, if your business operates within disaster-affected areas in [...]
Ready to make your payment? Check our step by step instructions here! Source: IRS.gov Issue Number: IR-2023-165 IRS reminds gig workers, self-employed and others of Sept. 15 third quarter estimated tax payment deadline WASHINGTON – The Internal Revenue Service is reminding taxpayers who pay estimated taxes that the deadline to [...]
Source: IRS.gov Issue Number: Tax Tip 2023-81 Tax considerations when selling a home Many people move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return. When selling a home, [...]
Mid-June estimated tax payment deadline in sight for many taxpayers WASHINGTON — The Internal Revenue Service today reminded taxpayers of the 2023 second quarter estimated tax deadline. Those who pay estimated taxes should consider the June 15 deadline to stay current with their taxes. Estimated tax is the method used [...]
Source: IRS.gov Issue Number: IR-2023-94 IRS: Florida storm victims qualify for tax relief; April 18 deadline, other dates extended to Aug. 15 WASHINGTON — Florida storm victims now have until Aug. 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service [...]
IRS.gov - Tax Tip 2023-52 Tax day reminders for all taxpayers The filing and payment deadline for most 2022 federal tax returns has arrived. Here’s what last minute filers need to know. Taxpayers who need more time can request an extension Taxpayers can request an extension of time to file [...]
Source: IRS.gov - Issue Number: Tax Tip 2023-36 U.S. citizen and resident aliens living abroad should know their tax obligations. Their worldwide income -- including wages, unearned income and tips -- is subject to U.S. income tax, regardless of where they live or where they earn their income. They also [...]
Source Article: https://www.barnesdennig.com/2023-inflation-reduction-act-tax-credits/ The Inflation Reduction Act (IRA), signed into law by President Biden in August 2022, is designed to help fight inflation, increase investment in domestic manufacturing and energy production, lower prescription drug prices, and sharply reduce carbon emissions by 2030. It also included new and expanded tax incentives designed to [...]
Source IRS.gov Issue Number: Tax Tip 2023-15 Understanding business travel deductions Whether someone travels for work once a year or once a month, figuring out travel expense tax write-offs might seem confusing. The IRS has information to help all business travelers properly claim these valuable deductions. Here are some tax [...]
Tax Planning: Tips and Advice With the new tax year upon us, it's time to consider strategies to manage your tax liability effectively. Each tax season bring changes that offer both challenges and opportunities. Here are some essential tips and advice to help you navigate these changes and make informed [...]
