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IRS Increases Mileage Rate: effective 7/1/22

Posted in Small Business, Tax News on June 14, 2022

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

Posted in Tax News on June 1, 2022

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…

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2021 TAX RETURNS START BEING ACCEPTED JANUARY 24, 2022

Posted in Firm News, Tax News on February 1, 2022

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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CT Tax Amnesty Program-If You Owe, Do NOT Wait! Jan 31st Deadline

Posted in Small Business, Tax News on January 25, 2022

Reduced Interest and No Penalties Offered through January 31, 2022 HARTFORD, Connecticut / October 28, 2021 – Connecticut Department of Revenue Services (DRS) Commissioner Mark Boughton today announced the 2021 Tax Amnesty program offering individuals and businesses the opportunity to…

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Benefits NOW Available: CT’s Paid Family & Medical Leave Law

Posted in Small Business, Tax News on January 4, 2022

Information posted by local Manchester CPA firm Borgida & Company, P.C. By now most every Connecticut resident is undoubtedly aware of the State’s new Paid Family & Medical Leave law because they’ve been seeing an additional deduction in their paycheck…

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