by KNSS | Feb 23, 2022 | 2022 February
This tax season, the IRS is having special Saturday hours at many Taxpayer Assistance Centers (TACs) nationwide. No appointments are required. The selected TACs will be open from 9 a.m. to 4 p.m. on the following Saturdays: March 12, April 9, and May 14. The...
by KNSS | Feb 21, 2022 | 2022 February
From IRS Tax Tips – 2022.27: One way people can get the new tax year off to a good start is by checking their federal income tax withholding. They can do this using the Tax Withholding Estimator on IRS.gov. This online tool helps employees avoid having too much...
by KNSS | Feb 1, 2022 | 2022 February
The SECURE Act changed the deadline for establishing a profit sharing plan or cash balance plan in order for employer contributions to be made for the 2021 tax year. The new rules extended the 12/31/21 deadline to the tax filing deadline for your practice, including...
by KNSS | Feb 1, 2022 | 2022 February
During the summer of 2020, most of our dental practice clients received the Provider Relief Fund (PRF) Phase 2 Subsidy equal to 2% of their 2019 net collections. Many practices also received Phase 3 PRF subsidies during December 2020. HRSA requires that any practice...
by KNSS | Jan 19, 2022 | January 2022 news
Are you wondering how to navigate tax season as an independent contractor? Andrew Schwartz, CPA, recently presented a webinar for Barton Associates that covers many great tips to making the process as easy as possible. Please watch the recording of the webinar for the...
by KNSS | Jan 19, 2022 | January 2022 news, Practice resources
By Alex E. Oliver, Wealth Manager, First National Corporation The SECURE Act changed the deadline for establishing a profit sharing plan or cash balance plan in order for employer contributions to be made for the 2021 tax year. Previously, this would have been...
by KNSS | Jan 17, 2022 | January 2022 news
Regular IRAs (traditional and Roth) allow taxpayers investment choices such as commonly traded securities, bonds, mutual funds and exchange traded funds (ETFs) to invest their retirement funds into. Self-Directed IRAs (SDIRAs) offer investment choices in...
by KNSS | Jan 16, 2022 | January 2022 news
The U.S. Department of Education recently announced major changes to the Public Service Loan Forgiveness Program (PSLF). The PSLF program forgives the remaining balance on an individual’s federal Direct Loans (a federal student loan made by the U.S. Dept of Education)...
by KNSS | Jan 15, 2022 | January 2022 news
Beginning in 2022 the annual gift tax exclusion increases by $1,000 to $16,000 and to $32,000 for gifts jointly given by taxpayers and their spouse. This increase in the annual exclusion threshold is the first since the $1,000 jump for the 2018 tax year. For annual...
by KNSS | Jan 14, 2022 | January 2022 news
Amended tax returns continue to be backlogged. Typically, taxpayers can expect amended tax returns to be processed within 16 weeks. However, as of December 11, 2021, the IRS has a backlog of more than 2.4 million amended tax returns waiting to be processed by...
