JKL Bookkeeping Tax Unlimited

IRS issues guidance on state tax payments to help taxpayers | Internal Revenue Service IR-2023-23, Feb. 10, 2023 — The IRS provided details today clarifying the federal tax status involving special payments made by 21 states in 2022.

Have not filed your 2019 and 2020 tax yet? File your 2019 and 2020 on or before September 30, 2022 to get certain failure to file penalties relief.

JKL Bookkeeping Tax Unlimited LLC on Google REAL PROPERTY TAX CREDIT FOR HOMEOWNERS Tax Year July 1, 2021 – June 30, 2022 The City & County of Honolulu offers a real property tax credit to property owners who meet certain eligibility requirements. If you qualify, you are entitled to a tax credit equal to the amount of taxes owed for the 202...

https://www.washingtonpost.com/business/2022/02/04/tax-season-2022-refund-return-backlog-advice/

Don’t file a paper return, call the IRS on a Wednesday, and other advice to get through a turbulent 2022 tax season Tax season is going to be wild. So here's our indispensable guide to filing your 2021 taxes, all in one convenient place.

Video tax tip from the IRS - Five things to do now to make filing our taxes go smoothly

https://www.youtube.com/watch?v=tl1N5p_Rn6g

Get Ready! Learn the steps you can take now to make the tax filing season a lot easier. For more information, go to https://www.irs.gov/individuals/steps-to-take-now-t...

The Internal Revenue Service has been issuing the information letters to Advance Child Tax Credit recipients starting in December and to recipients of the third round of the Economic Impact Payments at the end of January. The IRS urged people receiving these letters to make sure they hold onto them to assist them in preparing their 2021 federal tax returns in 2022. More information visit: https://www.irs.gov/newsroom/irs-issues-information-letters-to-advance-child-tax-credit-recipients-and-recipients-of-the-third-round-of-economic-impact-payments-taxpayers-should-hold-onto-letters-to-help-the-2022-filing-season.

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Salary Paycheck Calculator

Salary Paycheck Calculator – Calculate Net Income | ADP ADP’s paycheck calculator shows you how to calculate net income and salary for employees.

HONOLULU REAL PROPERTY TAX CREDIT FOR HOMEOWNERS
Deadline 9/30/2021
IF YOU NEED MORE INFORMATION, PLEASE CALL
THE TAX RELIEF SECTION AT 768-3205.

IRS Collection: Current Enforcement Updates and Trends Since the pandemic began in March 2020, IRS Collection has taken efforts to assist taxpayers facing financial challenges, including holding off on taking enforcement action against many taxpayers. How

Advance payments of the 2021 Child Tax Credit will be made regularly from July through December to eligible taxpayers who have a main home in the United States for more than half the year. The total of the advance payments will be up to 50 percent of the Child Tax Credit. Advance payments will be estimated from information included in eligible taxpayers' 2020 tax returns (or their 2019 returns if the 2020 returns are not filed and processed yet).
Child Tax Credit amounts will be different for each family

Your amount changes based on the age of your children. The payment for children:
Ages five and younger is up to $3,600 in total (up to $300 in advance monthly)
Ages six to 17 is up to $3,000 in total (up to $250 in advance monthly)

https://www.irs.gov/taxtopics/tc652

Topic No. 652 Notice of Underreported Income – CP2000 | Internal Revenue Service Topic No. 652 Notice of Underreported Income – CP2000

Tax updates

American Rescue Plan Act passes with many tax components The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

https://www.fcc.gov/broadbandbenefit

Emergency Broadband Benefit Congress has tasked the FCC with developing a new $3.2 billion program to help U.S. households that are struggling to pay for internet service during the pandemic. The FCC is mobilizing people and organizations to help share important consumer information about the Emergency Broadband Benefit. To pa...

Court Authorizes Service of John Doe Summons Seeking Identities of U.S. Taxpayers Who Have Used Cryptocurrency A federal court in the District of Massachusetts entered an order today authorizing the IRS to serve a John Doe summons on Circle Internet Financial Inc., or its predecessors, subsidiaries, divisions, affiliates, including Poloniex LLC (collectively “Circle”), seeking information about U.S. taxp...

Unemployment - Tax update:
For return filed without $10,200 exclusion -
Starting from May, the IRS will adjust
tax returns in two phases.
The first phase will include most taxpayers eligible for the up to $10,200 exclusion.
The second phase will include joint filers eligible for the up to $20,400 exclusion and returns with more complex tax situations.

https://www.forbes.com/sites/sarahhansen/2021/03/22/irs-will-send-second-round-of-stimulus-payments-this-week-including-paper-checks-and-debit-cards/

IRS Will Send Second Round Of Stimulus Payments This Week—Including Paper Checks And Debit Cards New direct deposits will clear on March 24, the agency said.

Tax Returns due date for different states....

State Tax Deadlines 2021 | Canopy The IRS has extended the 2021 federal tax deadline to May 17, but state tax deadlines are still up to each state. Here are the state tax deadlines announced so far for 2021.

Unemployment...
Filed- Wait for IRS Instructions to get your money back.
Not Filed yet - Wait for Tax software updates and State decisions...

Tax Deadlines

https://kb.drakesoftware.com/Site/Browse/13325/Return-Due-Dates-and-Deadlines

Return Due Dates and Deadlines *Note: per the 1120 Instructions, "a corporation with a fiscal tax year ending June 30 must file by the 15th day of the 3rd month after the end of its tax year. A corporation with a short tax year ending anytime in June will be treated as if the short year ended on June 30, and must file by the 15th...

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation

New Exclusion of up to $10,200 of Unemployment Compensation | Internal Revenue Service f your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan enacted on March 11, 2021, excludes from income up to $10,200 of unemployment compensation paid in 2020, which means you don’t have to pay tax on unemployment compensation of up to $10,200.

Interesting...

Apartment buildings are bringing work perks home by putting food lockers in the lobby - The Boston Globe Food lockers and pods are making apartment lobbies feel more like the office breakroom.

Consumer Alert: IRS warns tax payers about “ghost” tax preparers

Consumer Alert: IRS warns tax payers about “ghost” tax preparers As tax season continues, the Internal Revenue Service is warning consumers about ghost tax preparers

https://www.cnet.com/personal-finance/tax-season-2021-stimulus-payments-unemployment-and-every-other-major-change/?utm_source=facebook&utm_medium=news_tab&utm_content=algorithm

Tax season 2021: Stimulus payments, unemployment and every other major change Everything you need to know about what's new and different on your 2020 tax return.

Small business information needs

https://burnettandassociates.com/

Business Formation & Eduction | Incorporation & Company Compliance Services | Burnett & Associates Learn how to form your company properly, legally and with the right business structure. Our services include a year of corporate compliance minutes and resolutions. Get a free consultation today.

Tax Deadline ...

2021 tax calendar for small business owners - GoDaddy Blog As a small business owner, it can feel like tax deadlines constantly sneak up. Bookmark this tax calendar to stay ahead of important tax-related dates.

https://www.azcentral.com/story/money/business/consumers/2021/01/16/irs-tax-season-start-feb-12-here-is-what-you-need-know/4158532001/

The IRS has delayed the start date for filing federal income-tax returns; here's what you need to know As of Dec. 25, the IRS had 6.9 million individual tax returns to process for 2020. The agency said it is making "significant progress" on the backlog.

Eligible PPP Expenses Are Now Deductible The Internal Revenue Service has eased the cost of participation in the Paycheck Protection Program (PPP), by allowing deductions for the payment of eligible expenses.