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U.S. Senate Passes New Tax and Energy Bill: The Inflation Reduction Act

Aug 9, 2022 | Tax News

On Sunday, August 7, after more than a year of negotiations, the U.S. Senate passed new legislation in a 51-50 vote (Vice-President Harris provided the tie-breaking vote) that will invest in energy initiatives, curb drug prices and reduce the deficit, paid for by new...

Matthews, Carter & Boyce Named to Accounting Today’s 2022 “Best Firms to Work For”

Aug 8, 2022 | MCB Happenings

Matthews, Carter & Boyce (MCB) is pleased to announce the firm has been named to the 2022 Accounting Today Best Accounting Firms to Work For. 2022 is the 7th Year that MCB has been named to the list. “We are proud to once again be recognized by Accounting Today...
For Retro ERC, Use Form 941-X

For Retro ERC, Use Form 941-X

Aug 4, 2022 | Business Planning, Closely Held Business, Tax News

Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, may be your key to getting all the COVID relief your business is entitled to. It’s a 30-page form and the rules are complex, but here are the basics. First, understand how to...
All About Quarterly Tax Returns

All About Quarterly Tax Returns

Aug 2, 2022 | Business Planning, Closely Held Business, Tax News

IRS Form 941 is a tax form that businesses file quarterly. It is how businesses report income taxes as well as payroll taxes, Social Security, and Medicare taxes that the business withheld from employee paychecks over the previous tax year. Filing deadlines are the...
What You Need to Know About the 2022 Virginia One-Time Tax Rebate

What You Need to Know About the 2022 Virginia One-Time Tax Rebate

Jul 27, 2022 | Tax News

Reposted from the Virginia Department of Taxation website. Not every taxpayer is eligible. If you had a tax liability last year, you will receive up to $250 if you filed individually, and up to $500 if you filed jointly. Tax liability is the amount of tax you owe...
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