by Admin | Sep 30, 2022 | Retirement
The IRS Nationwide Tax Forum wrapped up in August with more than 10,000 tax professionals attending the virtual sessions. IRS Employee Plans presented the seminar, Retirement Plans: Avoid These Pitfalls When Managing Your Small Employer Plan. Checklists: Part of our...
by Admin | Sep 29, 2022 | Individual Taxes
With the recent passage of the Inflation Reduction Act of 2022, the electric vehicle credit has undergone some major changes. Although most of the changes take effect in 2023, to qualify for the current credit, vehicles purchased after August 15, 2022, are...
by Admin | Sep 28, 2022 | Business Taxes, Individual Taxes, Tax Planning
Child Tax Credit The child tax credit is going back to its pre-2021 form. That means the 2022 credit amount drops back down to $2,000 per child. Children who are 17 years old don’t qualify for the credit this year, because the former age limit (16 years old)...
by Admin | Sep 27, 2022 | COVID-19
To help struggling taxpayers affected by the COVID-19 pandemic, the IRS has issued a notice, which provides penalty relief to most people and businesses who file or filed certain 2019 or 2020 returns late. This includes nearly 1.6 million taxpayers who will...
by Admin | Sep 24, 2022 | Individual Taxes
If you could not complete your 2021 tax return by April 18, 2022 and are now on extension, that extension expires on October 17, 2022. Failure to file before the extension period runs out can subject you to late-filing penalties. There are no additional extensions...
