taxes

Home|Tag: taxes

Closing your business? Communicate with tax authorities

If you are closing your business, you need to communicate to the tax authorities (Federal, State and local) which requires filing a final tax return, pay any liabilities to employees or vendors, pay any taxes outstanding, etc. Additionally, you need to keep the business records for a few years based on the period of limitations

By |2021-11-07T21:51:11+00:00November 7th, 2021|Categories: Business|Tags: , , , , , , , , , , |

How to check the status of your federal tax return

Taxpayers can access the Where's My Refund? tool two ways: Visiting IRS.gov  - https://www.irs.gov/refunds Downloading the IRS2Go app To use the tool, taxpayers will need: Their Social Security number or Individual Taxpayer Identification number Tax filing status The exact amount of the refund claimed on their tax return The tool displays progress in three phases: Return

By |2021-05-19T21:23:11+00:00May 19th, 2021|Categories: Individuals|Tags: , , , , , |

Some major companies paid zero Federal taxes versus small businesses

In April 2021, there was a report from Fortune media listing some of the companies that paid zero in their 2020 tax return. There are different options on the tax code allowing those companies to avoid paying taxes, such as international transactions, real estate investments, research and development, etc. Note that even if the federal

By |2021-05-19T19:30:16+00:00May 19th, 2021|Categories: Business|Tags: , , , , , , , |

2020 Taxes – E-filing starts Feb 12, 2021 for individuals

The IRS will delay the e-filing for the 2020 individual tax return for the additional programing due to the second round of Economic Impact Payments and other benefits passed on Dec 27, 2020. Link - https://www.irs.gov/newsroom/2021-tax-filing-season-begins-feb-12-irs-outlines-steps-to-speed-refunds-during-pandemic

By |2021-01-21T22:38:22+00:00January 21st, 2021|Categories: Individuals|Tags: , , , |
Go to Top