Taxes January 11, 2023
IRS Gives Soaked Californians Extra Time to File 2022 Tax Returns
Taxpayers in any county covered by a federal emergency declaration have until May 15 to pay their income taxes.
Accounting January 10, 2023
New GOP Congress Passes Bill Erasing $71 Billion of IRS Funding
Those who supported the original funding bill say the increase will help the agency increase collections on existing tax laws, and therefore increase revenue, by ...
Taxes January 10, 2023
Two North Carolina Tax Preparers Sentenced to 5 Years in Prison
These returns included fictitious federal income tax withholding figures as well as other fraudulent items that generated fraudulent refunds for the clients.
Taxes January 9, 2023
IRS Corrected 14 Million Tax Returns with Average Refund of $1,232
Many of the 12 million refunds come from a change in the way unemployment insurance was taxed.
Taxes January 8, 2023
Help Your Startup Clients Avoid These 7 Tax Mistakes
As trusted advisors, CPAs have the knowledge and expertise to provide our clients with accurate and timely advice on a wide range of tax and financial matters.
Taxes January 6, 2023
11 Men Indicted in Multimillion-Dollar Sports Betting Ring Tax Evasion Case
The sports betting organization they managed evaded tens of millions of dollars in excise taxes for three years.
Accounting January 6, 2023
‘Office Space’ Inspired Software Engineer’s Scam, Prosecutors Say
Ermenildo “Ernie” Castro was charged with two counts of first-degree theft and first-degree identity theft.
Taxes January 3, 2023
6 Key Takeaways From Trump’s Tax Returns
The documents show the former president’s complex, and sometimes unusual, financial situation.
Taxes January 3, 2023
IRS, Treasury Update Guidance on Accounting Methods for Specified R&E Expenditures
Revenue Procedure 2023-11 outlines how companies should comply with changes made by the Tax Cuts and Jobs Act.
Taxes December 30, 2022
Do You Need A Charitable Appraisal? 2023 Tax Tips
The appraisal rules don’t apply to donations of publicly traded securities. Use the quoted market price to determine the FMV of the securities. This takes a lot of the guesswork out of the deduction.
Taxes December 30, 2022
Adoption Tax Credit Provides Valuable Benefit
The adoption credit is indexed annually by the IRS. Due to the rising inflation of late, the figures have jumped dramatically.
Taxes December 30, 2022
IRS 2023 Mileage Rate Rises to 65.5 Cents Per Mile
65.5 cents per mile driven for business use, up 3 cents from the midyear increase setting the rate for the second half of 2022.