by Winkelman-Bruce & Truax LLP | Nov 22, 2021 | Tax Tips and News
The Internal Revenue Service says tax professionals spoke—and the agency listened. After getting comments from tax pros, the IRS has now increased the number of transcripts a professional preparer can get on any one client. The previous limit was 10 transcripts for a...
by Winkelman-Bruce & Truax LLP | Nov 17, 2021 | Tax Tips and News
The Internal Revenue Service is doing a little extra to help those taxpayers who have suffered from the wildfires in California. The agency is pushing back the deadlines for filing and paying various individual tax returns to January 3. The deadlines were originally...
by Winkelman-Bruce & Truax LLP | Nov 16, 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 Winkelman-Bruce & Truax LLP | Nov 16, 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 Winkelman-Bruce & Truax LLP | Nov 16, 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...
