Mar 11, 2022 | IRS information, Tax Updates
Under the broker information reporting rules, brokers must report transactions in securities to both the IRS and the investor. These transactions must be reported on Form 1099-B. Legislation enacted in 2021 extends these broker information reporting rules to...
Feb 16, 2022 | IRS information, Tax Updates
The IRS has added a page to its website for updates on the 2022 tax filing season as well as efforts by the agency to clear a backlog of unprocessed returns from past years, according to a February 14 news release. The page on IRS.gov, Special Tax Season Alerts, will...
Jan 7, 2022 | Tax Planning Tips, Tax Updates
It’s a new year and that means new tax laws and other tax changes. Below are changes that take effect this year, along with other tax planning information. Filing deadlines. First off, the deadline to file individual tax returns is April 18. Other deadlines are:...
Dec 15, 2021 | IRS information, Tax Updates
Derek Bradley is a tax associate at Larson & Company specializing in small business tax preparation and accounting strategies Cryptocurrency might seem like a fly by night scheme to some, but to others it is part of the financial system of the future....
Nov 23, 2021 | Tax Updates
Corporate Alternative Minimum Tax The Build Back Better Act resurrects the corporate alternative minimum tax (AMT) which was eliminated by the Tax Cuts and Jobs Act, although it returns in a slightly altered form. Proposed to be effective for tax years beginning after...
Nov 23, 2021 | Tax Updates, Uncategorized
Income Tax Surcharge In lieu of income tax rate increases on the top tax bracket, the Build Back Better Act includes a new, two-stage surcharge on the modified adjusted gross income of individuals, estates and trusts. An additional tax of five percent applies to the...
