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Posts By: Zinner & Co. Tax Team
Hurricane Ian Casualty Loss

Hurricane Ian Casualty Loss

Many of our clients who live in the Southwest Florida region, as well as North and South Carolina, were affected by Hurricane Ian.

On Oct. 5, 2022, the IRS published IR-2022-173, which allows hurricane victims in those states an extension of time to file their 2021 income tax returns until Feb. 15, 2023. This meant that if a valid extension was granted for your individual tax return through until Oct. 17, 2022, you had until Feb. 15. The affected states have followed the same stance as well. read more…

Hurricane Ian Casualty Loss

Things To Consider About The Employee Retention Credit

The Employee Retention Credit (ERC) was established under the CARES Act in March 2020 to provide a refundable employment tax credit to help businesses with the cost of payroll and to help keep people employed during the COVID-19 pandemic. If your business qualifies, the ERC can potentially be a very large influx of cash to help you continue to run a successful business.

read more…
2023 Health Savings Account Limits

Where Is My Tax Refund?

In late May, the Internal Revenue Service enhanced the Where’s My Refund? tool on their website.

This new feature allows taxpayers to check the status of their refunds for current tax year and two previous years.

In order to check their refund status, taxpayers will need to provide their Social Security number or ITIN, filing status and expected refund amount from the original filed tax return for the tax year they are checking.

Previously, Where’s My Refund? only displayed the status of the most recently filed tax return within the past two tax years. Information available to those calling the refund hotline will be limited to the 2021 tax return.

Using the Where’s My Refund? Tool, taxpayers can check the status of their refund within:
• 24 hours after e-filing a tax year 2021 return
• Three or four days after e-filing a tax year 2019 or 2020 return
• Four weeks after mailing a return

The IRS reminds taxpayers that the Online Account continues to be the best option for finding their prior year adjusted gross income, balance due or other type of account information.

“We encourage those who expect a refund, but requested an extension, to file as soon as they’re ready,” said IRS Commissioner Chuck Rettig. “We process returns on a first-in basis, so the sooner the better. There’s really no reason to wait until October 17 if filers have the relevant information to file now. Free File is still available for extension recipients to use to prepare and file their federal tax return for free.”

Electronic filing is available anytime and the IRS continues to receive returns and issue refunds. Once taxpayers have filed, they can track their refund with the Where’s My Refund? tool.

This helpful tool, accessible on irs.gov or the IRS2Go mobile app, allows taxpayers to track their refund through three stages – received, approved and sent.

The tool is updated daily and gives taxpayers a projected refund issuance date as soon as it is approved.

The IRS does not recommend taxpayers call them to check on their refund status unless it has been more than 21 days since the return was filed or the tool says the IRS can provide more information.

If the IRS needs more information to process the return, the taxpayer will be contacted by mail.

For more information about checking the status of a tax refund, please visit irs.gov/refunds.

Zinner & Co. Adopting QuickBooks Support Policy

Zinner & Co. Adopting QuickBooks Support Policy

Zinner & Co. has officially adopted Intuit’s QuickBooks Discontinuation policy.

If you are using QuickBooks version 2017 or older, we encourage you to upgrade to maintain compliance. This policy will maintain support for the three most recent versions of Intuit QuickBooks.

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QuickBooks Desktop 2020 includes new productivity-boosting features to help you save more time and stay more organized. Some of the new/improved features include:

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Zinner & Co. Interns Succeeded During Challenging Tax Season

Zinner & Co. Interns Succeeded During Challenging Tax Season

For three Zinnner & Co. interns, their internships were ones they will likely never forget, as they had to overcome a challenging tax season.

When their internships began, Allen Li (Case Western Reserve University), Kyoko Tosi (Kent State University) and Brett Carney (CWRU) likely thought they were in for a normal tax season.

“We learned how to prepare individual tax returns and to issue the 1099 tax forms,” said Tosi. “We were provided with weeks of training, practice period and real work with senior’s reviews.”

The work kept them busy as they began an in-depth journey into the world of accounting.

read more…
Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.
ODJFS adds new technology and customer service fee

In a letter dated Nov. 7, Ohio Department of Job and Family Services Director Matt Damschroder explained a new fee that employers will be charged on their quarterly unemployment insurance tax rate. Included within Ohio’s recently passed biennial budget (House Bill 96)...

What Does the Government Shutdown mean as Oct. 15 approaches?

Extended Filing Due Date Approaches for 2024 Individual Income and Gift Tax Returns As the Oct. 15, extension deadline looms for filing 2024 individual income and gift tax returns, what does the federal government shutdown mean for Internal Revenue Service employees...

Electronic payment requirement will not affect 2024 tax returns

There will soon be a big change for some taxpayers in how they send tax payments to the federal government or receive refunds. Executive Order 14247, Modernizing Payments to and from America’s Bank Account, is intended to modernize financial operations, reduce costs,...

New Ohio Withholding Rates Go Into Effect on Oct. 1

Ohio employers and employees should prepare for an important payroll update this fall. Starting Oct. 1, the Ohio Department of Taxation will implement new state income tax withholding tables. The change was necessitated by the passage of House Bill 96, the state’s...

The Opportunities and Risks of AI to End Users

Artificial intelligence (AI) is not just for tech companies and research labs; it is quickly becoming part of everyday life. Today, many people are already using AI without even realizing it, and in the next few years, it will be as common as smartphones or Wi-Fi. Let...

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