The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid hassles. Tip 1. Contact us soon for an appointment to prepare your tax return. Tip 2. Gather all documents needed to prepare an accurate return.… Read more »
Author: Jonathan Ieraci
IRS Now Accepting ACA Returns
Posted by Jonathan Ieraci & filed under Uncategorized.
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 »
Didn’t receive an EIP? You may be eligible for this rebate.
Posted by Jonathan Ieraci & filed under Uncategorized.
Taxpayers who didn’t receive their third Economic Impact Payment (EIP) may be eligible to claim a 2021 Recovery Rebate Credit on their tax returns based on their 2021 tax year information. The IRS said that individuals may have received their third EIP through initial and “plus-up” payments in 2021. The IRS suggests that taxpayers who… Read more »
The best way to protect your personal info is by filing early.
Posted by Jonathan Ieraci & filed under Uncategorized.
The IRS opened the 2021 individual income tax return filing season on January 24. Even if you typically don’t file until much closer to the April deadline (or you file for an extension until October), consider filing earlier this year. Why? You can potentially protect yourself from tax identity theft — and there may be… Read more »
How will revised tax limits affect your 2022 taxes?
Posted by Jonathan Ieraci & filed under Uncategorized.
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 »
CTBK Fraud Insights
Posted by Jonathan Ieraci & filed under Cornerstone, In the News.
Anti-fraud controls should be implemented in small businesses to avoid unruly costs and negative effects that can impact the businesses processes and finances.
Are you ready to file your 2021 tax returns?
Posted by Jonathan Ieraci & filed under Uncategorized.
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 »
Watch the Lease Webinar on YouTube
Posted by Jonathan Ieraci & filed under Firm Events.
Check out our four-part webinar series exploring the essentials of lease accounting, including basics, action steps & planning, special circumstances, as well as discussing ASC 842 Leases.
5 Tax Tips for 2022
Posted by Jonathan Ieraci & filed under Uncategorized.
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
Posted by Jonathan Ieraci & filed under Firm Events.
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 »