They have suggested stimulus checks which would go to taxpayers while also increasing the gas tax. This has not signed into law and is not part of any bill. If any of these programs become law, we will update this with information including the tax implications of gas stimulus checks. The...
In fact for 2022, based on legislation Congress passed, the minimum threshold forthird-party payment processorsto report this has dropped considerably to $600 (from $20,000!). So a lot more folks are going to be seeing this form when it comes to filing their taxes in the2022-2023 tax s...
The IRS and Tax GuidanceCommito, Thomas F.Journal of Financial Service Professionals
You Upload the latest letter / notice you received from the IRS. 0 Tell us how to contact you. 1 We will tell you how we can help you after reviewing your case. 1 You sign our agreement. 2 We obtain a power of attorney from you. 2 We obtain tax transcripts from the IRS....
That’s the big solution being floated by the National Taxpayer Advocate this week in the wake of an ever-growing backlog of paper tax returns. According to the latest data, the Internal Revenue Service (IRS) is almost one full year behind in processing paper returns—an intractable situation...
Deductions The IRS issued its annual update Friday of special per-diem rates for substantiating ordinary and necessary business expenses incurred while traveling away from home (Notice 2021-52). The new rates are in effect from Oct. 1, 2021, to Sept. 30, 2022. Specifically, they are the spe...
For participants who have self-only coverage in a medical savings account, the plan must have an annual deductible that is not less than $2,650 — up $200 from tax year 2022 — but not more than $3,950, an increase of $250 from tax year 2022. For self-only coverage, the ma...
Outsourced Accounting, Finance, Tax & Advisory for Startups Protect your business from the unforeseen, as well as position yourself for long-term growth. Be informed and understand what’s to come. Get Solutions Insights Explore Insights Trending Topics Browse By Receive the latest business...
"Today's Tax Talk with Attorney Steven Leahy" IRS Interest Rate Increases Hurt - Inflation has an impact most don't notice. Inflation exasperates IRS problems. How? (Podcast Episode 2022) - Plot summary, synopsis, and more...
Section 45 Production Tax Credit (PTC) or Section 45Y Clean PTC PTC rate of $2.75 cents per kilowatt-hour (kWh) Increased by 10 percent of the amount that can be claimed Bonus Amount: $0.275 cents per kWh Total PTC: 3.025 cents per kWh Section 48 Investment Tax Credit (ITC) or...