Q2 Estimated Tax Payments due June 15th

By |2023-06-08T13:13:14-04:00June 8th, 2023|Individual Income Tax|

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 [...]

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IRS: Florida storm victims qualify for tax relief; April 18 deadline, other dates extended to Aug. 15

By |2023-05-02T11:41:47-04:00May 2nd, 2023|Individual Income Tax, News Articles, Penalties and Interest|

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 [...]

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Tax day reminders for all taxpayers

By |2023-04-18T10:46:39-04:00April 18th, 2023|Individual Income Tax, Penalties and Interest, Tax Payments|

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 [...]

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Reporting foreign income and filing a tax return when living abroad

By |2023-03-22T20:22:37-04:00March 22nd, 2023|Foreign Income and Accounts, Individual Income Tax, International Tax|

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 [...]

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2023 Tax Planning – the Inflation Reduction Act

By |2023-03-16T13:52:21-04:00March 16th, 2023|Corporate Income Tax, Energy Efficeincy, Individual Income Tax, Inflation Reduction Act|

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 [...]

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Understanding business travel deductions

By |2023-02-09T13:02:43-05:00February 9th, 2023|Corporate Income Tax, Employees & Independent Contractors, Employers, Individual Income Tax|

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 [...]

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Tax Planning Strategies

By |2024-01-18T18:03:23-05:00February 1st, 2023|Individual Income 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 [...]

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Final 2022 Estimated Tax Payment Due January 17th

By |2023-01-03T14:24:57-05:00January 3rd, 2023|Individual Income Tax, Tax Payments|

Source: IRS.gov IRS reminder to many: Make final 2022 quarterly tax payment by Jan. 17; avoid surprise tax bill, possible penalty   WASHINGTON − The IRS urges taxpayers to check into their options to avoid being subject to estimated tax penalties, which apply when someone underpays their taxes. Taxpayers who [...]

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THE INFLATION REDUCTION ACT OF 2022

By |2022-12-31T11:36:19-05:00December 15th, 2022|Affordable Care / ObamaCare, Corporate Income Tax, Individual Income Tax|

SUMMARY:  The Inflation Reduction Act of 2022 will make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030. The bill will also finally allow Medicare to negotiate for prescription drug prices and [...]

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Tax Payment Instructions for Tax Year 2023

By |2024-02-12T15:43:14-05:00November 15th, 2022|Individual Income Tax|

To make an Income Tax payment today for Tax Year 2023… Jump to Direct Pay Or go to IRS.gov, Select Make a Payment, then Pay Now with Direct Pay, Make a Payment Select the Reason for Payment, Type of Tax, and Tax Year as indicated here -> Verify Identity The next screen will ask you [...]

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