IRS Circular 230 Disclosure:
To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any tax advice contained in this communication, unless expressly stated otherwise, was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.
With tax season in full swing we have som helpful reminders about deductions and refunds in this month's newsletter. We also cover Amazon.com's new deal with CT and a brief history on how the income tax system was created.
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The New Surtax, Will It Affect You? May 8, 2013
Surtax starts in 2013Applies to single taxpayers with modified adjusted gross income over $200,000 and joint filers over $250,000Trusts and estates with income over $11,950 in 2013 will also be subject to the surtax
July's Newsletter July 2, 2013New Sales Tax PermitsAmnesty for deliquent CT taxpayersExcise tax on self-insured health plansTen Things for seniors to think about
Most taxpayers with less complicated returns are now able to file their 2012 federal income tax returns. However, some taxpayers will not be able to file until late in February or possibly early March due to the last-minute tax changes Congress approved. This includes individuals who claim residential energy credits or education credits. Form 4562 for depreciation and amortization is also not yet being accepted by the IRS, so many businesses, including corporations and partnerships, will have a delay in filing.
Click here to read more about your 990 along with information on the sales tax holiday and how DOMA could affect your business.
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P.O. Box 610
Old Saybrook, CT 06475
Certified Public Accountants