2022 Tax Filing Opens Monday!

By |2022-01-12T16:21:44-05:00January 20th, 2022|Individual Income Tax|

Issue Number:    IR-2022-08 Inside This Issue 2022 tax filing season begins Jan. 24; IRS outlines refund timing and what to expect in advance of April 18 tax deadline WASHINGTON − The Internal Revenue Service announced that the nation's tax season will start on Monday, Jan. 24, 2022, when the tax agency [...]

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Employers: W-2, 1099 Filing Deadline Approaching

By |2022-01-19T12:24:06-05:00January 19th, 2022|Employers|

IRS.gov  Issue Number:    IR-2022-15 January 31 wage statement deadline reminder for employers WASHINGTON - The Internal Revenue Service today urged employers to be aware of the January deadline to file Forms W-2 and other wage statements. Filing these documents timely helps employers avoid penalties and helps the IRS in fraud prevention. [...]

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Final 2021 Quarterly Tax Payments due January 18th

By |2022-01-12T15:50:10-05:00January 12th, 2022|Individual Income Tax, Tax Payments|

Issue Number:    IR-2022-03 Inside This Issue IRS reminder to many: Make final 2021 quarterly tax payment by Jan. 18; 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 [...]

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2021 TAX CHECKLISTS AVAILABLE NOW!

By |2022-01-09T15:37:53-05:00January 7th, 2022|AFSG|

The 2021 tax filing season is underway. Every year, AFSG provides you with detailed checklists to help you stay organized and up to date on the current tax laws. Below are links to our 2021 checklists, worksheets, and virtual appointment options. The impact of COVID-19 on our lives, economy, laws, [...]

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2021 Tax Laws Related to COVID-19

By |2022-01-09T10:56:07-05:00November 15th, 2021|Coronavirus, Individual Income Tax|

The following information reviews the Consolidated Appropriations Act, 2021 (CAA) and the American Rescue Plan Act of 2021 (ARP Act), passed to assist in dealing with the economic impacts of COVID-19. Source of Articles: NATPtax.com   INDIVIDUAL TAXPAYERS: Economic Impact Payments The ARP Act provided a third economic impact payment [...]

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IRS announces two new online tools to help families manage Child Tax Credit payments

By |2021-06-24T10:06:24-04:00June 24th, 2021|Individual Income Tax, Parents and Children|

Source: IRS.gov Child Tax Credit Eligibility Assistant helps families determine whether they qualify for Child Tax Credit payments Update Portal helps families monitor and manage Child Tax Credit payments  WASHINGTON — The Internal Revenue Service today launched two new online tools designed to help families manage and monitor the advance [...]

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The first step of good tax planning is good recordkeeping

By |2021-06-22T11:19:27-04:00June 22nd, 2021|Corporate Income Tax, Individual Income Tax|

Source: IRS.gov Year-round tax planning is for everyone. An important part of that is recordkeeping. Gathering tax documents throughout the year and having an organized recordkeeping system can make it easier when it comes to filing a tax return or understanding a letter from the IRS. Good records help: Identify [...]

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Businesses can temporarily deduct 100% of Meals beginning Jan. 1, 2021 – Dec 31, 2022

By |2021-04-08T12:07:53-04:00April 8th, 2021|Coronavirus, Corporate Income Tax, Employers|

Source: irs.gov  -  Issue Number:    IR-2021-79 Treasury, IRS provide guidance on tax relief for deductions for food or beverages from restaurants Businesses can temporarily deduct 100% beginning Jan. 1, 2021 WASHINGTON – The Treasury Department and the Internal Revenue Service today issued Notice 2021-25 providing guidance under the Taxpayer Certainty and [...]

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Tax Filing Opens February 12th 2021

By |2021-01-27T16:50:47-05:00January 27th, 2021|Charitable Contributions, Coronavirus, Earned Income Tax Credit, Employees & Independent Contractors, Individual Income Tax|

The IRS announced they will begin accepting electronically filed tax returns on February 12th 2021. Here are some important reminders before you file. Source: IRS.gov Issue Number:    IR-2021-23 Important reminders before filing 2020 tax returns WASHINGTON — Following an unpredictable year with many changes and challenges, the Internal Revenue Service today [...]

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2020 Tax Checklists & Virtual Appointments Available Now

By |2021-01-28T11:34:46-05:00January 10th, 2021|AFSG|

The 2020 tax filing season is underway. Every year, AFSG provides you with detailed checklists to help you stay organized and up to date on the current tax laws. Below are links to our 2020 checklists, worksheets, and virtual appointment options. The impact of COVID-19 on our lives, economy, laws, [...]

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