Blog Archives

IRS Increases Mileage Rate: effective 7/1/22

In recognition of recent gasoline price increases, the optional standard mileage rate for the final six months of 2022 has been increased. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for

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Child Tax Rebate Program – MUST APPLY BY 7/31/22

The child tax rebate, which was recently authorized by the Connecticut General Assembly and signed into law by Governor Ned Lamont, is intended to help Connecticut families with children. You may be eligible for a child tax rebate of up

4 Reasons NOT to Wait for Your K-1

Subchapter S corporations (“Sub S”), partnerships, limited liability companies (“LLC’s”) and estates and trusts issue form K-1s. This form documents the stockholders, partners, members or beneficiaries share of their profit or loss from the entity.  Don’t wait for this form

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3 Smart Reasons to Use IRS Form 911

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Do you have an IRS issue and you can’t seem to get it resolved?  You’re not alone.   Back in the day, if you had an

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Local Connecticut accounting firms gearing up for busy season. The IRS announced that the nation’s tax season will start on Monday, January 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.   VISIT THE

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