The Internal Revenue Service announced in late April Health Savings Accounts (HSA) limit for 2023.
read more…
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…
IRS announces penalty relief for certain 2019 and 2020 returns
$1.2 billion in penalties will be refunded to 1.6 million taxpayers
In late August, the Internal Revenue Service announced on its website that it had issued Notice 2022-36, which will provide penalty relief to most taxpayers who filed certain 2019 or 2020 tax returns late.
read more…
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. to present at 49th Annual Charitable Tax Seminar
Zinner & Co. Managing Partner Robin Baum, CPA, will present at the 49th Annual Charitable Tax Seminar, organized by the Jewish Federation of Cleveland’s Professional Advisory Council.
Zinner and Co. Wishes Patti Puterbaugh a Happy Retirement
A longtime member of the Zinner & Co. family will retire at the end of the year.
Patti Puterbaugh joined Zinner & Co. LLP in Oct. 2000 as the File Room Clerk. Since then, she has made a lasting impact on the firm.
read more…
Zinner & Co. Sponsors 2021 Magic of Lights
Zinner & Co. is pleased to continue its support and sponsorship of the Magic of LightsTM, being held at the Cuyahoga County Fairgrounds in Berea, from Nov. 24 through Jan. 2, between the hours of 5:30 and 10 p.m.
read more…
Zinner & Co. launches new Accounting, Audit, Tax, Consulting website
Zinner & Co. is proud to announce the launch of our new website.
Launched on Nov. 9, the new site provides visitors with important information about our firm, along with the services we offer and the specific industries we serve. Do not worry – we still offer comprehensive accounting, audit, tax, and management consulting services – but with a better website! read more…
Zinner & Co. Sponsors the Magic of Lights for 2020
Zinner & Co. is pleased to continue its support and sponsorship of the Magic of LightsTM, being held at the Cuyahoga County Fairgrounds in Berea, Ohio from November 25, 2020 through January 2, 2021 between the hours of 5:30 and 10 p.m.
Magic of LightsTM is a yearly tradition for many Northeast Ohio families, who marvel at 
thousands of decorative displays and interactive holiday lights.
The event is a dazzling, drive-through holiday lights experience featuring favorite holiday scenes and characters of the season using the latest LED technology and digital animations.
read more…
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.
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:
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.
Appeals Court grants temporary stay to BOI Reporting
On Dec. 23, the U.S. Court of Appeals, Fifth Circuit granted a temporary stay of the nationwide injunction which we previously communicated with you about related to the Corporate Transparency Act (CTA). This stay has reinstated the enforcement of the CTA, and...
U.S. District Court halts enforcement of BOI reporting rules
On Dec. 3, the U.S. District Court for the Eastern District of Texas suspended the nationwide implementation of the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) reporting requirements. The District Court issued an opinion and order...
Zinner & Co. announces two new hires
Zinner & Co. CPA and Consultants is proud to announce the recent hiring of Claire Stanislawski and Madelyn Thome. Stanislawski started as the Accounting and Tax Services Supervisor on Aug. 12, while Thome was hired as an Accounting and Tax Staff Accountant on July...
Staying Safe Online During The Holidays: A Guide for Everyone
The holidays are a time for fun, gifts, and being with your family, as many people shop online, chat with friends, and share their holiday moments. While the internet can be a great place for all this, it is important to stay safe, especially during the holiday...
More time for Beneficial Ownership Information reporting
In late October, the Financial Crimes Enforcement Network (FinCEN) announced that certain victims of Hurricane Milton will receive an additional six months to submit Beneficial Ownership Information (BOI) reports. To qualify for the extension, reporting companies must...
Send us your questions and we’ll share our insights with you on our blog!