The Ware's Tax Emporium

Taxes & Virtual Currency The IRS is placing a microscope into the virtual currency world. And they will now know what you are doing. Be prepared.

Common Tax Filing Mistakes With all the complexity in the tax code, it is easy to make a mistake. Here are some common ones, and what you can do to eliminate the possibility of them happening to you.

Pass Through Entity Tax With half the states introducing this tax idea in an effort to save your business from deduction limitations on personal tax returns, it's essential you're aware of the concept & how it impacts you.

2023 Individual Tax Highlights The worst time to know about new tax laws is when it is too late to do anything about it. Here is a summary of the most impactful changes this year.

*******An extremely important reminder*******

Those people claiming earned income credit or child tax credit will not get their monies disbursed until mid-February. Please read:

While most refunds are issued in less than 21 days, tax professionals should remind their clients not to rely on specific dates, especially for major purchases or bill payments. The IRS cannot issue Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds before mid-February due to the federal PATH Act.

ANY QUESTIONS, CALL Gregory @ (954) 865-3470 or (954) 954-0281

********ANOTHER IMPORTANT ANNOUNCEMENT*********
HUB Testing Dates Announced

The following testing schedule has been released by the IRS.

We will begin accepting e-files for HUB testing on Monday, January 15, 2024. These returns will be held for transmission until the IRS opens HUB testing on Wednesday, January 17, 2024, at 11 am EST.

The IRS will be accepting TY2023 returns.

WARE'S TAX EMPORIUM LLC is limited to a fixed daily number of e-files during this period. According to the results of the daily processing, the IRS may exercise its right to request that WARE'S TAX EMPORIUM LLC stop sending e-files for the day. The IRS may also change their schedule for the testing at their convenience.

You may begin transmitting e-files on Monday, January 15, 2024. However, there is no guarantee that any returns you transmit will be received and/or acknowledged by the IRS before Monday, January 29, 2024.

You may receive acknowledgments for some returns during this testing window, but it is likely that you will not receive all of your acknowledgments until after regular e-filing begins on Monday, January 29, 2024.

***********IMPOORTANT ANNOUNCEMENT****)*****

IRS Announces January 29 as Start of Tax Season
Posted on: 9 Jan, 2024 12:00 PM
The Internal Revenue Service (IRS) has officially set the start date for the 2024 tax season – Monday, January 29, 2024. On this day, the IRS will begin accepting and processing 2023 tax returns, with an expected 128.7 million individual tax returns to be filed by the April 15, 2024, deadline.

Key Filing Dates

For most taxpayers, the deadline to file personal federal tax returns is Monday, April 15, 2024.

However, residents of Maine or Massachusetts have until April 17, 2024, due to holidays.

Additionally, taxpayers in federally declared disaster areas may have additional time to file. To ensure a smooth filing process, the IRS encourages taxpayers to gather necessary information, report all taxable income accurately, and file electronically with direct deposit.

While most refunds are issued in less than 21 days, tax professionals should remind their clients not to rely on specific dates, especially for major purchases or bill payments. The IRS cannot issue Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds before mid-February due to the federal PATH Act.

January 29: Filing season start date for individual tax returns.

April 15: Due date of filing a tax return or requesting an extension for most of the nation.

April 17: Due date for Maine and Massachusetts.

October 15: Due date for extension

CALL ME FOR MORE INFO: 954-865-3470

Beginning January 3rd,YOU MAY BEGIN FILING YOUR RETURN IF YOU ARE TRYING TO GET A LOAN. for more info message us on Facebook today

4 Common Tax Surprises No one likes a big tax bill. Sometimes they cannot be avoided. But sometimes they can ... if you know about them ahead of time. Here are 4 of the most common tax surprises you need to know.

Understanding the 1099-NEC Beginning in 2020, compensation to vendors, consultants and all other nonemployee compensation must be reported on 1099-NEC. Here is what you need to know.

Something to adhere to.

Proving Your Deductions How do you support your deductions if challenged?

The Child Tax Credit Learn how the recent changes to the Child Tax Credit affect you.