If you could not complete your 2022 tax return by the original filing due date and are now on extension, that extension expires on October 16, 2023, and no additional extensions are available.
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When couples separate or divorce, the change in their relationship status affects their tax situation. Watch this video for what to note during your tax planning.
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Despite warnings, many business owners are being misled into filing for the Employee Retention Tax Credit for which they do not qualify. Learn more.
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Breaking: IRS Commissioner Danny Werfel ordered the agency to immediately stop processing new claims for the employee retention credit. Story via
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Complex tax laws make it more likely that errors are made or items are omitted on tax returns, but they can, and should be, corrected by amending the return. Read our blog to learn more.
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Unclaimed accounts from financial institutions, and other sources are turned over to state unclaimed property departments if the owner can't be contacted and after a period of time as prescribed by state law. Read more.
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Generally, tax records should be kept for 3 years from the due date of the return to which they apply, but there are exceptions. Watch this video to learn more.
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Every business u2013 large and small u2013 needs a business succession plan. The main issues addressed by business succession planning relate to people and money.
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Crypto and Tax Policy: If enacted, brokers will begin reporting 2025 transactions in January 2026 via Form 1099-DA. Details via
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Here is a recent blog post regarding the tax regulations related to treating partners as employees of a disregarded entity owned by the partnership.
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With careful planning a gain can be excluded on the sale of your home, a second residence, a fixer-upper flipper, and even a rental, using the home gain exclusion rules.
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