by Heimlantz | Oct 11, 2022 | The HeimLantz Advisor Newsletter
With the recent passage of the Inflation Reduction Act of 2022, the electric vehicle credit has undergone some major changes. Although most of the changes take effect in 2023, to qualify for the current credit, vehicles purchased after August 15, 2022, are required to...
by Heimlantz | Oct 11, 2022 | The HeimLantz Advisor Newsletter
To help struggling taxpayers affected by the COVID-19 pandemic, the IRS has issued a notice, which provides penalty relief to most people and businesses who file or filed certain 2019 or 2020 returns late. This includes nearly 1.6 million taxpayers who will...
by Heimlantz | Oct 11, 2022 | The HeimLantz Advisor Newsletter
All too often, taxpayers wait until after the close of the tax year to worry about their taxes and miss opportunities that could reduce their tax liability or financially benefit them. Mid-year is the perfect time for tax planning. The following are some events that...
by Heimlantz | Oct 11, 2022 | The HeimLantz Advisor Newsletter
If you could not complete your 2021 tax return by April 18, 2022, and are now on extension, that extension expires on October 17, 2022. Failure to file before the extension period runs out can subject you to late-filing penalties. There are no additional extensions...
by Heimlantz | Aug 13, 2021 | The HeimLantz Advisor Newsletter, Uncategorized, Volume 6 Issue 2
Tax Due Dates for the Remainder 2021 September 15, 2021: Deadline for third-quarter estimated tax payments for the 2021 tax year September 15, 2021: Final deadline to file partnership and S corporation tax returns for tax year 2020, if an extension was requested...
by Heimlantz | Aug 13, 2021 | The HeimLantz Advisor Newsletter, Volume 6 Issue 2
The Internal Revenue Service has released a midyear report to Congress that details a significant backlog of tax returns dating back to the end of tax filing season, and many of those returns have yet to be processed. While backlogs are not unusual, this year’s is far...
