by Dean Clayton T. Woo CPA, Inc. | Jan 8, 2022 | Tax Tips and News
Their lifeline comes in the form of a quarterly estimated tax payment, as long as it’s made for the fourth quarter of 2021 and gets to the IRS by Tuesday, January 18. The IRS sees income taxes as a pay-as-you-go proposition, meaning Americans need to pay most of their...
by Dean Clayton T. Woo CPA, Inc. | Jan 6, 2022 | Tax Tips and News
No doubt about it: The future for the IRS is electronic. The agency is putting more and more formerly paper-only functions on its electronic platform, speeding up transmission and improving service as a result. Form 1024, Application for Recognition of Exemption under...
by Dean Clayton T. Woo CPA, Inc. | Jan 5, 2022 | Tax Tips and News
Victims of the New Year wildfires in Colorado now have one less thing to worry about. The Internal Revenue Service has given individual and business taxpayers affected by the disaster until May 16 to file and pay an array of federal taxes. The fires started December...
by Dean Clayton T. Woo CPA, Inc. | Dec 30, 2021 | Tax Tips and News
In November 2021, Drake Software and Right Networks collaborated on a three-part series highlighting different software solutions available to tax professionals. In part one, we learned about the different ways tax practices run software. Part two covered how cloud...
by Dean Clayton T. Woo CPA, Inc. | Dec 30, 2021 | Tax Tips and News
If taxpayers get a letter from the Internal Revenue Service relating to either the Advance Child Tax Credit or Economic Impact Payments, they need to file the letters for safekeeping. Those taxpayers will need the letters when they file their 2021 income taxes next...
