I have clients who need to file individual tax returns for 2020. The due date was extended to January 3, 2022, due to Hurricane IDA in LA & MS. The IRS has stopped accepting electronic returns for 2020. If these returns are not filed until the IRS resumes accepting electronic returns, will these clients be charged a penalty for filing late? Also, if they have a refund, will they still be charged a penalty for filing late?

October 12th, 2024

I'm 78 years old, single, and my only income is Social Security ($27,000 in 2020). Will I owe any taxes, and what if I use the Standard Deduction ($14,800)? Additionally, I didn't receive my first Stimulus Payment. Do I need to file a 2020 tax return to get it?

January 18th, 2023

My company has a SIMPLE Plan for its only employee. The company makes an annual contribution to that employee's SIMPLE Plan account. The employee does NOT contribute to his SIMPLE. Should the "Retirement Indicator" in Box 13 of the employee's W-2 be checked?

August 27th, 2024

I recently moved to Missouri and breed and sell puppies. I want to know if I have to pay sales taxes when I sell a puppy or if the buyer pays the sales tax. Are there any preferences for someone living in Missouri versus someone living out of state? If a sales tax has to be paid, who pays it?

November 6th, 2023

I have a question about the import tax in the US. If I want to import 300 earphones to Wisconsin, with an individual price of $11.8 (total of $3540), how much would I have to pay? Additionally, if my LLC is based in Dubai and I want to store my earphones in Wisconsin to sell across the US, do I need to establish a sales tax nexus and a state income tax nexus for sales made in Wisconsin, even if I only sell my products outside of Wisconsin?

March 19th, 2024