IRS Now Accepting ACA Returns

The IRS is now accepting e-filed Affordable Care Act (ACA) information returns. Forms 1094 and 1095 and transmittals can be electronically filed through the ACA Information Returns system, also known as AIR. These returns provide information about the health coverage that a taxpayer had or was offered in the previous year. Under the ACA, insurance… Read more »

How will revised tax limits affect your 2022 taxes?

While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation.   If you’re like most people, you’re probably more concerned about your 2021 tax bill right now than you are… Read more »

Are you ready to file your 2021 tax returns?

No date has been set for when taxpayers can begin to electronically file 2021 tax returns, but the IRS said it will be announced in the near future. The season typically begins in late January. Before e-filing can begin, IRS systems must be configured to process the previous year’s returns, and changes to tax forms… Read more »

5 Tax Tips for 2022

When the ball drops at midnight on December 31, don’t think that it’s too late to make any changes to the outcome of your 2021 tax returns. There are plenty of things you as an individual can do after Jan. 1, 2022 to impact the result of your returns for 2021. Here are 5 tips… Read more »

CTBK Hosts First Session in Three-Part Lease Reporting Webinar

Just launched this month is CTBK’s Lease Webinar Series, hosted by Kristi Humphrey, CPA and Senior Manager at the firm. This three-part webinar focuses on different focal points of reporting leases and the accounting changes to come in January 2022. By attending one or more sessions of this series, it better equips individuals for these… Read more »