Accounting

Individuals

From Super Bowl commercials to teenage NFT millionaires — and even Elon Musk’s support of the dog meme-inspired currency Dogecoin — cryptoassets have been making a play for mainstream acceptance. By the end of 2021, the global cryptocurrency market was worth more than $3 trillion, up from $14 billion just five years earlier. About 16%

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The start of a new tax filing season often brings with it longer hold times with the IRS, as taxpayers and their tax preparers inundate phone lines with questions and concerns. But the 2022 filing season promises to be particularly challenging. The IRS continues to work through a backlog of millions of paper-filed returns and

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Earlier this year, the American Rescue Plan (ARP) was announced, including some temporary updates to the child tax credits available for many parents. Under the ARP, eligible parents of dependent children can take a tax deduction of up to $3,600 per child, depending on the child’s age and household income. Part of this tax deduction

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Substitute Senate Bill 226 provides for a permanent sales tax holiday on the first Friday, Saturday and Sunday of August each year. This year Ohio’s sales tax holiday is from Friday, August 7, 2020 at 12:00am to Sunday, August 9, 2020 at 11:59pm. Sales tax is exempt on the following items during the holiday: Clothing

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The April 15 tax payment deadline for individuals and corporations has been extended 90 days in an effort to provide relief by the U.S. government in the wake of COVID-19 for related business closures and self-isolation requests across the country. While tax payments are postponed, the filing deadline remains April 15. Six-month extensions to file

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n June of 2019, the Supreme Court heard arguments in a case where the State of North Carolina levied an income tax on a trust beneficiary. The trust had no connection to the State of North Carolina except for the residence of a beneficiary. The beneficiary was not the trustee and had no power over

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