Estimate Extension

WASHINGTON — The Internal Revenue Service reminds taxpayers that estimated tax payments for tax year 2020, originally due April 15 and June 15, are no...

CARES ACT CHANGES TO CHARITABLE DONATIONS

IAAI NEWSFLASH By: Joel Shabsin, C.P.A. CARES ACT CHANGES TO CHARITABLE DONATIONSOne of the provisions in the CARES Act revolves around changes to the...

IRS Enhances Get My Payment Online Application to Help Taxpayers

WASHINGTON – The Internal Revenue Service today announced significant enhancements to the “Get My Payment” tool to deliver an improved and smoother ex...

Coronavirus Announcement

To whom it may concern,

We understand that everyone is concerned about Coronavirus. And we are as well, which is why we are taking precautions to kee...

IRS Tip on Adoption

IRS Tax Tip 2020-33, March 10, 2020

Taxpayers who adopted or started the adoption process during 2019 should review the rules around the adoption cre...

Mileage 2020

IR-2019-215, December 31, 2019

WASHINGTON — The Internal Revenue Service today issued the 2020 optional standard mileage rates (PDF) used to calculat...

Four Common Tax Errors that can be Costly for Small Businesses

IRS Tax Tip 2019-164, November 21, 2019

A small business owner often wears many different hats. They might have to wear their boss hat one day, and t...

Website Make-over

Compton Accounting is excited to announce the recent launch of our firm’s new website. We’ve been working very hard to enhance our website and give ou...

Tax Tip for Teachers

IRS Tax Tip 2019-137, October 2, 2019

Now that fall is here and school has started, many teachers are dipping into their own pockets to buy classroom...

Estimated Taxes

The U.S. tax system operates on a pay-as-you-go basis. This means that taxpayers need to pay most of their tax during the year, as the income is earne...

IRS launches new Tax Withholding Estimator; Redesigned online tool makes it easier to do a paycheck checkup

WASHINGTON — The Internal Revenue Service today launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make...

Taxpayers can file Form 2290 electronically to pay heavy highway vehicle use tax

IRS Tax Tip 2019-105, August 6, 2019

Taxpayers who must pay the heavy highway vehicle use tax should remember they can file and pay electronically.

Good tax planning includes good recordkeeping

IRS Tax Tip 2019-97, July 23, 2019

Tax planning should happen all year long, not just when someone is filing their tax return. An important part of...

Set Up Shop

Despite “the Amazon effect” on the world of retail, the dream of setting up a brick-and mortar retail space is still a reality.

All taxpayers should check their wilthholding ASAP

All taxpayers should check their withholding ASAP

All taxpayers should check their withholding – also known as doing a Paycheck Checkup – as soon as...