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Charitable Giving
The Tuesday after Thanksgiving marks Giving Tuesday when many people choose to make charitable donations. People making charitable donations for Giving Tuesday, or at any time during the year, should review whether their gift is tax-deductible.
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IRA Owners Age 70½ or Over – Qualified Charitable Distributions
IRA Owners Age 70½ or Over – Qualified Charitable Distributions
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Employers: beware of third parties promoting improper employee retention credit claims!
Employers should be wary of third parties advising them to claim the employee retention credit when they may not qualify. Some third parties are taking improper positions related to taxpayer eligibility for and computation of the credit. These third parties often charge large upfront fees or a fee that is contingent on the amount of…
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Employers warned to beware of third parties promoting improper Employee Retention Credit claims
The Internal Revenue Service today warned employers to be wary of third parties who are advising them to claim the Employee Retention Credit (ERC) when they may not qualify. Some third parties are taking improper positions related to taxpayer eligibility for and computation of the credit. These third parties often charge large upfront fees or…
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Columbus Day
Our office will be closed Monday October 10, 2022 in recognition of Columbus Day.
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COVID Tax Relief
$1.2 billion in penalties being refunded to 1.6 million taxpayers… IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic. To help struggling taxpayers affected by the COVID-19 pandemic, the Internal Revenue Service today issued Notice 2022-36,which provides penalty relief to most people and businesses who file certain 2019 or…
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Welcome Kaley N. Warren, Tax Accountant!
Kaley comes to Cook & Co. Tax Advisors from Regions Bank. Kaley is originally from Arab. She received her Bachelor of Science in Accounting from Athens State University. She successfully completed an internship as a Tax Accountant during her college studies, so she is already very familiar with our software. Kaley is doing a great…
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Just an Old Pocketknife…
An Old Pocketknife A longtime client and friend died last year. He and I only saw each other once a year when he made his annual trip to Arab to file his taxes. But we always spent extra time together talking about old pocketknives, a common interest we shared. This week my friend’s daughter was…
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Post-Pandemic Woes at the IRS
National Taxpayer Advocate issues mid-year report to Congress; expresses concern about continued refund delays and poor taxpayer service WASHINGTON — National Taxpayer Advocate Erin M. Collins today released her statutorily mandated mid-year report to Congress. The report expresses concern about continuing delays in the processing of paper-filed tax returns and the consequent impact on taxpayer…
