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Joanne, Here Are Your Articles for Tuesday, November 22, 2022
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As it usually does at this time of year, the IRS has announced increases in the amounts individuals can put away in 401(k) and IRAs. Click through to see how this may affect your retirement savings strategy.
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The IRS emphasizes that money received through third-party payment applications from friends and relatives as personal gifts or reimbursements for personal expenses is not taxable.
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Due to passage of Senate Bill 1828 by the Arizona Legislature in the 2021 session, Arizona's individual income tax rates were substantially reduced starting with the 2022 tax year. The previous Form A-4 withholding rates are no longer representative of the new lower income tax rates.
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El formulario de retención de impuestos sobre la renta individual de Arizona (Formulario A-4 de Arizona) se ha actualizado para reflejar las tasas de impuestos sobre la renta individual más bajas de Arizona.
Translated by: Lisset Anderson
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The audit of an employee benefit plan (EBP) requires expertise and a high level of understanding and scrutiny of the plan documents. Not all CPAs have the knowledge and experience it takes to correctly perform an audit of an EBP.
Author: Stephanie Lisovich, CPA, CFE
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The IRS has shared that persons who are subject to required minimum distributions (RMDs) from their IRAs may be able to turn those distributions into a qualified charitable donation (QCD), thus making the distribution non-taxable.
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You may have been advised to check your tax withholdings at least once a year. But if you've had job or family changes, you may want to do it more frequently. Click through for some IRS withholding advice to forestall any surprises next tax season.
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