Susan E Thomas CPA, LTD

12/15/2023

Tax Time -

07/26/2023

Ohio Sales Tax Holiday Alert -

06/20/2023

RITA Announces FastPay! -

06/19/2023

Work Opportunity Credit for Summer Hires -

With the school year ending and U.S. businesses hiring summer help, now is a good time for tax preparers to remind their business clients of the Work Opportunity Tax Credit (WOTC). As competition continues to rise among employers seeking seasonal workers, this credit may help businesses cope with th...

01/17/2023

IRS Lists Eligible Clean Vehicle Models -

The IRS released a list of vehicles that may be eligible for the new clean vehicle tax credit as a plug-in electric or fuel cell vehicle if purchased by a qualifying taxpayer in 2023. The list includes vehicles produced by 19 manufacturers as well as the limit on the manufacturer's suggested retai...

01/12/2023

New IRS Guidance for EV Makers and Sellers -

   The Treasury Department and IRS issued guidance on the procedures manufacturers and sellers of electric vehicles (EVs) must follow so that buyers of their vehicles will be eligible to claim the clean vehicle tax credit. The $7,500 credit was included in the Inflation Reduction Act of 2022 (IRA ...

01/10/2023

Business mileage rates increase 3 cents per mile in 2023 -

   The IRS announced 2023 mileage rates just in time to ring in the new year. This coming year, business rates increase by 3 cents per mile. Beginning Jan. 1, 2023, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

12/20/2022

Reporting Rules Changed for Form 1099-K -

   Taxpayers should receive Form 1099-K, Payment Card and Third Party Network Transactions, by January 31, 2023, if they received third party payments in tax year 2022 for goods and services that exceeded $600.

12/16/2022

Random Returns Chosen for NRP Audit -

12/12/2022

Deferred Social Security Payment Due Date -

12/08/2022

2022 Federal Tax Refund Dates -