Before you know it, April 18, 2023 (the deadline to file your 2022 Individual Income Tax Return) will be here. We get three extra days because April 15th is a legal holiday in Washington D.C. (Emancipation Day) and the next business day is Monday, April 18th. Here...
On August 16, 2022 President Biden signed the 2022 Inflation Reduction Act which has some favorable tax changes you should be aware especially now that we are approaching the end of 2022. Major Changes From The New Law Include: A three-year extension of expanded...
On November 3, 2022 the IRS released the Criminal Investigation Division’s (CI) annual report, highlighting significant successes and criminal enforcement actions taken in fiscal year ending September 30, 2022. The IRS noted that a key achievement was the...
Did you miss the October 17, 2022 tax return filing deadline? Areas with a new filing deadline of February 15, 2023, include: Florida, Puerto Rico, North Carolina, South Carolina, Areas in Alaska identified under FEMA’s Major Disaster Declaration 4672 and Hinds...
The California Franchise Tax Board (“FTB”) announced on October 6, 2022 special state tax relief for taxpayers and businesses affected by Hurricane Ian. Taxpayers and businesses in presidentially declared disaster areas are granted an extension to Feb. 15, 2023, to...
The IRS announced on September 29, 2022 that Hurricane Ian victims throughout Florida now have until Feb. 15, 2023, to file various federal individual and business tax returns and make tax payments. This comes after the IRS announced on September 27, 2022 that victims...
The IRS announced on September 27, 2022 that victims in parts of Alaska now have until February 15, 2023 to file various individual and business tax returns and make tax payments. This comes after the IRS announced on September 20, 2022 that victims of Hurricane Fiona...
The IRS announced on September 20, 2022 that victims in all 78 Puerto Rican municipalities now have until February 15, 2023 to file various individual and business tax returns and make tax payments. IRS Tax Relief Details The IRS is offering this relief to any area...
IRS providing broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic with $1.2 billion in penalties being refunded to 1.6 million taxpayers. On August 24, 2022 the Internal Revenue Service issued Notice 2022-36, 2021-15 I.R.B. 986 to help...
The bill as proposed by Senators Schumer and Manchin includes funding the IRS an extra $45.6 billion to audit the middle class. In total under the Inflation Reduction Act the IRS would be receiving $80 billion in new funding. Democrats claim this “investment” will...
