Smishing scams

Are you watching out for “smishing” scams? The IRS says you should be because they’re becoming more common. Similar to phishing, smishing lures potential victims with texts that can appear to be from the IRS. Fake texts might offer COVID relief, tax credits or even help setting up an IRS online account. Typically, they ask […]

Another coming Budget deadline

Shutdown averted! On Sept. 30, the U.S. House of Representatives approved a short-term spending measure, the Continuing Appropriations and Ukraine Supplemental Appropriations Act by a vote of 230 to 201. President Biden signed the bill into law before the midnight deadline. The stopgap measure funds the federal government at current levels from Oct. 1 through […]

Watch out for deer

Missouri ranks 14th in country for potential vehicle/animal collisions – KY3 https://bit.ly/3T7tk6v

Deadline extended for qualified plans

The IRS has extended deadlines for amending eligible retirement plans to reflect COVID-19 legislation. These include the CARES Act and the Taxpayer Certainty and Disaster Tax Relief Act of 2020. The new deadline is Dec. 31, 2025, for an IRA, a qualified retirement plan or a nongovernment 403(b) plan. Later deadlines will apply to government […]

Florida tax relief for Hurricane

The IRS has provided return filing and payment extensions to taxpayers who are located in FEMA-designated areas of Florida affected by Hurricane Ian. The relief postpones various deadlines that occurred starting Sept. 23, 2022, until Feb. 15, 2023. This means individuals who have a valid extension to file their 2021 tax returns due to run […]

17 states give inflation relief check

If you file taxes in these 17 states, you could be getting an inflation-relief check from the government—here’s who qualifies – CNBC https://cnb.cx/3egyLBl

Tax penalties?

Do you have questions about tax payments and possible penalties? Of course, we can answer any questions. In addition, the IRS has a web page that explains options for paying your tax bill, including what to do if you owe more than you can pay now. You may be able to request a payment plan. […]

Capital Gain relief for Farmers

Farmers and ranchers affected by drought may qualify for capital gains tax relief. The relief applies to taxpayers who were forced by drought conditions to sell certain livestock held for draft, dairy or breeding purposes. Generally, livestock sold due to drought must be replaced within a four-year replacement period. Under Notice 2022-43, the IRS is […]

Work Opportunity Tax Credit provides help to employers

In today’s tough job market and economy, the Work Opportunity Tax Credit (WOTC) may help employers. Many business owners are hiring and should be aware that the WOTC is available to employers that hire workers from targeted groups who face significant barriers to employment. The credit is worth as much as $2,400 for each eligible […]

Alaska relief

It’s been a busy year for natural disasters, and the IRS has once again announced regional tax relief. This time, it’s for taxpayers in Alaska affected by storms and flooding that began on Sept. 15, 2022. Individuals and businesses in the affected areas have until Feb. 15, 2023, to submit payments for quarterly estimated taxes […]