Tax Newsletter February 2023

Is it necessary

New guidance has been issued in the form of FAQ’s related to handling Form 1099-K and sale of personal property, unrelated to business.  This was discussed in our year-end sessions.  We have reproduced the FAQs for your convenience in this newsletter. Though IRS has announced a transition period for the new thresholds to become effective, […]

Tax Newsletter February 2022

Tax Deadlines

2022 Tax Season Begins on January 24th 2022, and Announces Deadline Information In This Issue List of Provisions Expiring in 2021 – Tax Planning Issues The 2022 Form W-4 Employee’s Withholding Certificate IRS Corrects the American Opportunity Tax Credit Identification Requirement in the FAQ’s IRS Announced Delays in Processing Employer Credit Advanced Payments FS-2022-02 Announcement […]

Getting Ready for the 2021 Tax Season

Tax Planning 2021

Tax Planning 2021 New in 2021: Those who Did Not receive an EIP may be able to claim the Recovery Rebate Credit Clients may be able to claim the Recovery Rebate Credit if they met the eligibility criteria in 2020 and: They didn’t receive an Economic Impact Payment this year, or Their Economic Impact Payment […]