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June 2023 Newsletter
Featured Articles
What To Do if You Receive an IRS CP2000 Notice
June 2023
An IRS CP2000 notice is mailed to a taxpayer when income reported from third-party sources such as an employer, bank, or mortgage company does not match the income reported on the tax return.
It is not a tax bill or
Avoiding a Tax Surprise When Retiring Overseas
June 2023
Are you approaching retirement age and wondering where you can retire to make your retirement nest egg last longer? Retiring abroad may be the answer. But first, it's important to look at the tax implications -- because not all
Tax Withholding for Seasonal and Part-Time Employees
June 2023
Many businesses hire part-time or full-time workers, especially in the summer. The IRS classifies these employees as seasonal workers, defined as employees performing labor or services on a seasonal basis (i.e., six months or less). Examples of this kind
Employee Relocation: What Happens to Your Home?
June 2023
Business owners and employees often have questions about what to do with an employee's home when they move to a new job location. Here are some answers.
Employees
Most employers want to protect the employee from being relocated against financial loss
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
June 2023 Newsletter
Tax Tips
Tax Due Dates for June 2023
June 2023
June 12
Employees - who work for tips. If you received $20 or more in tips during May, report them to your employer. You can use Form 4070.
June 15
Individuals - If you are a U.S. citizen or resident alien living and working
What Teen Entrepreneurs Should Know About Taxes
June 2023
Teens and young adults often go into business for themselves over the summer or after school. This work can include babysitting, lawn mowing, dog walking, or other part-time or temporary work. When a teen or young adult is an
Tax Credits for Energy-Efficient Home Improvements
June 2023
Taxpayers making certain energy-efficient updates to their homes are reminded that they could qualify for home energy tax credits. The credit amounts and types of qualifying expenses were expanded by the Inflation Reduction Act of 2022. Taxpayers who make
July 17 Deadline for Unclaimed 2019 Tax Refunds
June 2023
Nearly $1.5 billion in refunds remain unclaimed because some people haven't filed their 2019 tax returns yet. Under the law, taxpayers usually have three years to file and claim their tax refunds. If they don't file within three years,
HSA Limits Increase for 2024
June 2023
Contributions to a Health Savings Account (HSA) are used to pay the current or future medical expenses of the account owner, their spouse, and any qualified dependent and are adjusted annually for inflation. For 2024, the annual inflation-adjusted contribution
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
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