August 2022 - AFSG Consulting

COVID tax relief: IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic; $1.2 billion in penalties being refunded to 1.6 million taxpayers
Gallery
COVID tax relief: IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic; $1.2 billion in penalties being refunded to 1.6 million taxpayers

Coronavirus, Penalties and Interest

COVID tax relief: IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic; $1.2 billion in penalties being refunded to 1.6 million taxpayers

By Lauryn Charles|2022-08-26T14:27:53-04:00August 26th, 2022|Coronavirus, Penalties and Interest|

Source: IRS.gov IR-2022-155, August 24, 2022 WASHINGTON — To help struggling taxpayers affected by the COVID-19 pandemic, the Internal Revenue Service today issued Notice 2022-36PDF, which provides penalty relief to most people and businesses who file certain 2019 or 2020 returns late. The IRS is also taking an additional step to [...]

College students should study up on these two tax credits

By Lauryn Charles|2022-08-11T12:06:36-04:00August 11th, 2022|Individual Income Tax, Students and Education|

Source: IRS.gov Issue Number: Tax Tip 2022-123 College students should study up on these two tax credits Anyone pursuing higher education, including specialized job training and grad school, knows it can be pricey. Eligible taxpayers who paid higher education costs for themselves, their spouse or dependents in 2021 may be able [...]

Florida Sales Tax Holiday Ends Soon & Don’t Forget to Write-Off Classroom Supplies

By Lauryn Charles|2022-08-03T12:38:46-04:00August 3rd, 2022|News Articles, Parents and Children, Sales and Use Tax, Students and Education|

For Florida Parents & Teachers: For Teachers: Source: IRS.Gov Issue Number: Tax Tip 2022-118 From markers to face masks, classroom supplies may be tax deductible Teachers go above and beyond for their students, often buying classroom supplies needed to make learning successful. The educator expense deduction allows eligible teachers and administrators [...]