New Tax Developments

CPA, Business Accountant and Personal Tax Services

Please visit us on our Facebook page (link in the top right corner of the page) for all of the latest updates. Here you will find find articles posted by Matthew Mercurio with relevant up to date tax information designed to assist the majority of our clients.

https://www.irs.gov/newsroom/irs-sending-information-letters-to-recipients-of-advance-child-tax-credit-payments-and-third-economic-impact-payments?fbclid=IwAR3SCH_-jNHZuHHsnCbQQxkDMkgYNkJNo1TnYItUfVuvkQ7-oB_IkBdiOSM

Click the image above to learn more about the Advance Child Tax Credit and 2021 Stimulus Payment

Key filing season dates:

There are several important dates taxpayers should keep in mind for filing season 2022:

January 14: IRS Free File opens. Taxpayers can begin filing returns through IRS Free File partners; tax returns will be transmitted to the IRS starting January 24. Tax software companies also are accepting tax filings in advance.

January 18: Due date for tax year 2021 fourth quarter estimated tax payment.

January 24: IRS begins 2022 tax season. Individual 2021 tax returns begin being accepted and processing begins

January 28: Earned Income Tax Credit Awareness Day to raise awareness of valuable tax credits available to many people – including the option to use prior-year income to qualify.

April 18: Due date to file 2021 tax return or request extension and pay tax owed due to Emancipation Day holiday in Washington, D.C., even for those who live outside the area.

April 19: Due date to file 2021 tax return or request extension and pay tax owed for those who live in MA or ME due to Patriots’ Day holiday

October 17: Due date to file for those requesting an extension on their 2021 tax returns

How to report a telephone scam where someone pretends to be the IRS calling to harass you:

Report the incident to TIGTA at 800-366-4484 or www.tigta.gov
Contact the FTC and use their “FTC Complaint Assistant” at FTC.gov and add “IRS Telephone Scam” to the comments of your complaint

In 2011 the IRS found 2.2 million fraudulent filed tax returns. 940,000 of those returns were Identity theft that cost the Federal Government 6.5 billion dollars. Please click the link below to see what the IRS says you should do to protect yourself!

http://www.irs.gov/uac/Taxpayer-Guide-to-Identity-Theft

Tax Planning is one of Randy’s favorite tasks; IRS representation – one of the most utilized.

Reach Allison by email Allison@newtoncpapllc.com

Call or text: 803-810-0824

Licensed in North and South Carolina-NC CPA #25925 and SC CPA #8115

Click the link above to find out more about how to obtain an identify protection pin.