Davids' Accounting & Tax Service

02/22/2024

So proud of Phillip and Sam! Love you guys!

Keeping your fleet on the road. Turnkey truck maintenance solutions that increase your productivity and truck availability while lowering your repair and maintenance costs.

08/15/2023

All corporations and LLCs will have to register here next year unless you are exempt by your income amount (at least 5 million gross) and number of employees (20 or more)…

A final rule implementing the beneficial ownership information reporting requirements of the Corporate Transparency Act (CTA) was issued in September 2022. These regulations go into effect on January 1, 2024. Beneficial ownership information will not be accepted prior to January 1, 2024.

01/11/2022

IRS to accept returns starting January 24th

IR-2022-08, January 10, 2022 — The IRS announced that the nation's tax season will start on Monday, January 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.

10/26/2021

The IRS spoke at our seminar today. They will be sending out forms in January letting you know the exact amount that you received from the Advance Child Tax Credit. You will need this information when you file your taxes. If you use a preparer, include it with your other tax docs. Just FYI!

07/10/2021

A lot of people still haven’t received refunds…

While the IRS sent out two stimulus checks and updated the Child Tax Credit this year, it fell short of its core mission.

03/28/2021

https://www.foxbusiness.com/personal-finance/millions-backlogged-tax-returns-processed-summer-irs-commissioner

A build-up of unprocessed tax returns at the IRS caused by the pandemic has become a focal point for lawmakers who are reminding the agency that Americans need the cash amid the ongoing economic recovery.

03/18/2021

Tax season has been extended...

“ and extend filing and payment deadline for individuals to May 17, 2021. Details at https://t.co/BAj5rvsPvy”

03/14/2021

The IRS recommends waiting to amend for this tax law change until they get their software ready for the change. You will be able to exempt $10,200 of unemployment income. You will also not be subject to the excess premium tax credit. For a lot of people with insurance thru the marketplace, this will mean a significant savings. The link below describes the tax savings in the latest tax law change.

https://amp.usatoday.com/amp/4655089001

03/05/2021

If you drew unemployment last year, don’t forget that it is taxable. Some people are not receiving 1099s in the mail. You can go online and get your 1099G. Also, if you receive a 1099G and did not draw unemployment, report it to the appropriate authorities as identity theft.

02/07/2021

https://www.irs.gov/newsroom/special-300-tax-deduction-helps-most-people-give-to-charity-this-year-even-if-they-dont-itemize #:~:text=Under%20this%20new%20change%2C%20individual%20taxpayers%20can%20claim,for%20those%20making%20donations%20to%20qualifying%20tax-exempt%20organizations.

IR-2020-264, November 25, 2020 — The Internal Revenue Service today reminded taxpayers of a special new provision that will allow more people to easily deduct up to $300 in donations to qualifying charities this year.