Theresa Arndt, CPA

When Are 2022 Taxes Due? A better question might be: When aren't 2022 taxes due? Depending on your specific situation many deadlines may apply.  It would be helpful to mark these dates on your calendar. Important Tax Deadlines and Dates The IRS has set the following deadlines for the upcoming tax season:  January 23, 2023 – IRS begins accepting turns  January 17, 2023 – Fourth quarter estimated payments due for tax year 2022  February 1, 2023 – Employers must mail W-2 forms  April 18, 2023 – Tax Day/federal returns and payments due, final day for 401k contributions and extensions October 16, 2023 – Late filing deadline   Below, you’ll find more important tax dates for 2023. This does not even scratch the surface of all tax deadlines, but we are keeping the list brief here with what applies to most of our clients.  If you want all the tax deadlines go straight to the horses mouth and get them from the IRS, this...

Thank goodness 2022 is behind us; I'm looking forward to a better 2023!  Once tax season is out of the way it should be onward and upward...but first we have to survive it.  This is a relatively quiet year for income tax changes and after a few years of upheaval we are certainly grateful for that. Even so, a few substantial bits of legislation were passed this year which could affect you.  In particular, the Inflation Reduction Act and the SECURE Act.  We’ll dig into all those changes, plus a few more.  First, let’s kick things off with the important dates you need to know for the 2023 tax season.   You can see the expanded list of 2023 tax dates here , but here are the dates individual taxpayers need to know... Tuesday, April 18, 2023 , is the deadline for individual tax returns. Monday, October 16, 2023 , is the deadline if you request an  extension . Now that we know when , let's dive into what ... The Inflation Reduction Act It remai...

Greene County has received a total of $56.9 million from the American Rescue Plan Act (ARPA) and has allocated $8 million of these funds for small business ARPA applications. Greene County will grant these funds over four funding rounds expected to take place during 2022 & 2023, with around $2 million being awarded in each round. The first application deadline ends on May 31, 2022 , so if you believe you qualify for the ARPA Small Business Fund grant, please fill out your application as soon as possible (see application process below). ARPA FEATURES The ARPA grants are awarded to recipients based on (1) number of current employees in your business and (2) whether your business operates out of a rented or owned retail, office, warehouse, or operating space. You will have to be able to demonstrate that your business has been negatively impacted due to Covid in order to qualify for any Greene County ARPA assistance (see application process below). The program automatically has ...

Each calendar year provides unique challenges and updates to tax law impacting businesses and individuals. This post will highlight some of the major changes for businesses. If you wish to see tax law changes affecting individuals, you can go here . Article Highlights Paycheck Protection Program Employee Retention Credit Restaurant Revitalization Fund Business Meals Payroll Tax Deferral Employer-Provided Childcare Credit Excess Business Losses Executive Compensation Corporate Net Operating Losses Corporate AMT Corporate Charitable Contributions Excise Tax on Repurchase of Corporate Stock §1202 Gains On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (CAA) into law. The CAA contained two other laws: COVID-Related Tax Relief Act of 2020 (COVIDTRA) and Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTR). Though signed into law in 2020, many of the provis...