by My Company | Nov 10, 2021 | Tax Tips and News
Taxpayers contributing to a 401(k) plan for their retirement have gotten some good news from the Internal Revenue Service: they can now put more money into their plan for 2022. New instructions from the IRS raise the 2022 annual contribution limit on 401(k) plans from...
by My Company | Nov 5, 2021 | Tax Tips and News
Taxpayers in Connecticut are getting a little extra time to file their taxes, courtesy of Hurricane Ida and the IRS. Ida tore up coastal areas in the southern U.S., and went on to batter the Northeast with flooding and other damage. The Internal Revenue Service...
by My Company | Nov 5, 2021 | Tax Tips and News
A new provision in the tax code lets more taxpayers deduct up to $600 in donations to qualified charities—even if they don’t itemize. Itemizing is ordinarily the key that unlocks the charitable donation deduction; taxpayers choosing the standard deduction...
by My Company | Nov 4, 2021 | Tax Tips and News
It’s that time again: time for federal tax return preparers to renew their Preparer Tax Identification Numbers (PTINs) for the coming year. It’s no time to procrastinate, since 2021 PTINs will expire on Dec. 31. A valid PTIN is required for anyone who prepares—or...
by My Company | Nov 4, 2021 | Tax Tips and News
There’s not much doubt that the COVID-19 pandemic has taken a strong labor market and turned it on its ear, producing a shortage of available workers. To help employers navigate these uncertain waters, the Internal Revenue Service is reassuring them that businesses...
