While the pandemic still carries on, Tax Day in the United States has return to its traditional deadline of April 15th. Those who remember filing federal income taxes later last year (it was pushed to July 15th in 2020) will need to prepare accordingly. Like in all other years past,….
Tag: Income Taxes
It is true. There are inescapable certainties in life: death, and taxes. These issues are not local…people all over the world must deal with them. From a cohesive standpoint, these two concerns bind us all together. Looking to find common ground with a stranger? Look no further than the topics….
An unfortunate combination of the government shutdown and the usual millions of tax returns needed to be processed has resulted in the Internal Revenue Service (IRS) scrambling to get things back in order. Now that the IRS has reopened, its employees are working diligently to resume their regular operations. On….
The late John Wooden once said, “It’s the little details that are vital. Little things make big things happen”. While a college basketball coach (who happens to rank first in NCAA Division I Men’s Final Four appearances) may seem irrelevant to filing taxes, the truth is that paying meticulous attention….
Contrary to popular belief, the Internal Revenue Service (IRS) seldom audits taxpayers. In fact, only about 1 percent of all tax returns processed are subject to an IRS audit. However, it is interesting to note that historically wealthier individuals and the most successful of businesses are more likely to get….
Mark Twain once said, “I shall never use profanity except in discussing house rent and taxes.” Expletives aside, paying taxes is stressful to everybody, no matter what specific financial situation one might find themselves in. Almost always met with frustration, stress, and scrambling, tax filing season is something that everyone….
Ellrich, Neal, Smith & Stohlman, P.A. opened our Miami office last summer and we are proud to announce that over the last year we have truly established ourselves in Florida’s most thriving city. Located in the heart of downtown Miami, our forensic accounting firm serves clientele from all walks of….
Choosing the right accounting firm can make or break an organization. For small businesses, using accounting software like QuickBooks or Quicken may seem like the logical solution. However, as public and private companies expand, the need for the right accountant or accounting firm becomes indispensable. While every company’s needs are….
There are several important tax return due date changes to note for 2016 tax returns prepared during the 2017 filing season. These changes were part of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 and the Protecting Americans From Tax Hikes Act. Effective January 1, 2017,….
As the clock strikes midnight, Americans celebrate and scream “Happy New Year!”, but many of those same people wake up the next morning with the realization that January 1st means tax season is rapidly approaching. Tax filing season officially starts on January 23rd, and while there is ample time before….