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ASY are Small Business Accountants that treat me like family.

Bookkeeping • Payroll • Tax Preparation • Government Correspondence From small business to non-profit (501(c)(3))… from new business to established… we handle the numbers so you can concentrate on the business! AS of York caters to small business owners....

  • August 29, 2009

Tax credits and deductions for individuals

Tax credits and deductions change the amount of a person’s tax bill or refund. People should understand which credits and deductions they can claim and the records they need to show their eligibility. Tax credits A tax credit reduces the income...

  • January 15, 2024

IRS Resumes Collection Efforts and Provides Limited Penalty Relief

Penalty relief for tax years 2020 and 2021 The IRS has announced penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pandemic. The IRS will be providing...

  • December 20, 2023

IRS reminds taxpayers, Jan. 16 due date for final 2023 quarterly estimated tax payments

WASHINGTON –The Internal Revenue Service today reminded taxpayers who didn’t pay enough tax in 2023 to make a fourth quarter tax payment on or before Jan. 16 to avoid a possible penalty or tax bill when filing in 2024....

  • December 19, 2023

Choosing a reputable tax preparer is vital to tax security

As people get ready for tax filing season, it’s important that they select tax return preparers with the skills, education and expertise to prepare tax forms properly. Taxpayers are ultimately responsible for all the information on their tax return, regardless...

  • December 18, 2023

IRS: 2024 Flexible Spending Arrangement contribution limit rises by $150

WASHINGTON — During open enrollment season for Flexible Spending Arrangements (FSAs), the Internal Revenue Service reminds taxpayers that they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans through their FSA....

  • December 12, 2023

Get ready to file in 2024: What’s new and what to consider

WASHINGTON — The Internal Revenue Service today urged taxpayers to take important actions now to help them file their 2023 federal income tax return next year. This is the second in a series of reminders to help taxpayers get...

  • December 11, 2023

Clean vehicle sellers and dealers should register with Energy Credits Online; register by Dec. 1, 2023 to ensure Jan. 1 availability

WASHINGTON — The Internal Revenue Service reminded dealers and sellers of clean vehicles to register their organizations immediately on the Energy Credits Online tool. The IRS is strongly urging sellers of clean vehicles to register by Dec. 1, 2023,...

  • November 21, 2023

Employers should certify employees before claiming the Work Opportunity Tax Credit

Employers who hire people from certain groups can reduce the tax they owe when they claim the Work Opportunity Tax Credit on their federal tax return. This credit encourages employers to hire workers certified as members of any of...

  • November 16, 2023

Avoid a surprise next year; review tax withholding now before time runs out

WASHINGTON — With 2023 rapidly coming to a close, the Internal Revenue Service today encouraged taxpayers to review their tax withholding as soon as possible to avoid a potential surprise when they file their tax return next year. Although...

  • November 7, 2023

IRS: Beware of fake charities; check before donating

IR-2023-196, Oct. 23, 2023 WASHINGTON —With the tragic crises and natural disasters happening around the globe, many are responding to the call to give what they can to help. The Internal Revenue Service today warned taxpayers to be wary...

  • November 2, 2023

Businesses must electronically file Form 8300 for cash payments over $10,000

Beginning Jan. 1, 2024, businesses that file 10 or more information returns must e-file Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. For those with fewer information returns, e-filing Form 8300 is still...

  • September 27, 2023

Red flags for Employee Retention Credit claims; IRS reminds businesses to watch out for warning signs of aggressive promotion that can mislead people into making improper ERC claims

WASHINGTON – The Internal Revenue Service continues to warn businesses to watch out for aggressive marketing by nefarious actors involving the Employee Retention Credit (ERC) and urged people to watch out for red flags that can signal trouble. The...

  • September 19, 2023

What the IRS is doing and what you can do to avoid Employee Retention Credit scams

The IRS shared new steps the agency is taking to prevent honest taxpayers from falling victim to Employee Retention Credit (ERC) scams. The IRS continues to warn small businesses about aggressive promoters encouraging filing potentially ineligible claims. The IRS...

  • September 18, 2023

IRS reminds gig workers, self-employed and others of Sept. 15 third quarter estimated tax payment deadline

WASHINGTON – The Internal Revenue Service is reminding taxpayers who pay estimated taxes that the deadline to submit their third quarter payment is Sept. 15, 2023. Taxpayers not subject to withholding may need to make quarterly estimated tax payments....

  • September 14, 2023

Tips to help taxpayers make sure their donations go to legitimate charities

When disaster strikes, Americans can always be counted on to help. That help comes in countless ways, but often the easiest way to help is by donating money to charities. Sadly, criminals are just as likely to answer the...

  • September 13, 2023

Here’s What To Do if You Owe Taxes, but Can’t Pay

Here is a video tax tip from the IRS: Here’s What To Do if You Owe Taxes, but Can’t Pay English | Spanish | ASL | Chinese | Korean | Vietnamese | Haitian Creole Subscribe today: The IRS YouTube...

  • September 8, 2023

ERC audits: Be prepared

By   Roger Russell September 05, 2023, 5:06 p.m. EDT4 Min Read Despite the numerous warnings from the Internal Revenue Service, the American Institute of CPAs and various tax practitioner groups, advertisements for employers to take advantage of the Employee...

  • September 7, 2023

Lots of military spouses are also entrepreneurs – here’s some tax info they can use

Many military spouses run businesses or do gig work, and whether it’s a side hustle or a major operation, the IRS has tax resources, tools and information to help them keep things running smoothly. Tax resources on IRS.gov Small...

  • September 1, 2023

Keeping vital records safe can make disaster recovery easier

Natural disasters can strike without warning. Sometimes even the most diligent taxpayers are left without the important personal and financial records they need. People may need documentation for tax purposes, federal or state assistance programs or insurance claims. Here...

  • August 31, 2023

Businesses must electronically file Form 8300, Report of Cash Payments Over $10,000, beginning January 1, 2024

WASHINGTON —The Internal Revenue Service today announced that starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. This new requirement follows final regulations...

  • August 30, 2023