Great Lakes Accounting Service, Inc.

08/31/2026

If you filed an extension for your Partnership return or Corporate return, the due date is September 15, 2026. There is no such thing as an extension on your extension. You must file or pay the penalty.

06/04/2026

IRS Tax Tip 2026-46: Important steps for future business owners Internal Revenue Service (IRS) sent this bulletin at 06/04/2026 11:04 AM EDT IRS Tax Tips June 4, 2026 Issue Number: Tax Tip 2026-46 Important steps for future business owners Choose a business structurebusiness structure Sole proprieto...

04/24/2026

https://www.irs.gov/newsroom/actions-taxpayers-should-take-if-they-missed-april-filing-and-payment-deadline

Tax Tip 2026-32 April 16, 2026 — Taxpayers who missed the April 15 filing deadline should submit their federal tax return as soon as possible.

04/24/2026

https://www.irs.gov/payments/get-help-with-tax-debt

If you owe a tax debt that you can't pay in full, we can help. You have options to resolve it.

04/20/2026

https://content.govdelivery.com/accounts/USIRS/bulletins/41347b3?reqfrom=share

IRS Tax Tip 2026-32: Actions taxpayers should take if they missed April filing and payment deadline Internal Revenue Service (IRS) sent this bulletin at 04/16/2026 03:08 PM EDT IRS Tax Tips April 16, 2026 Issue Number: IRS Tax Tip 2026-32 Actions taxpayers should take if they missed April filing and...

04/20/2026

https://content.govdelivery.com/accounts/USIRS/bulletins/41344cf?reqfrom=share

IR-2026-53: IRS launches new online tool to help taxpayers resolve tax debt Internal Revenue Service (IRS) sent this bulletin at 04/16/2026 02:05 PM EDT IRS Newswire April 16, 2026 Issue Number: IR-2026-53 Inside This Issue IRS launches new online tool to help taxpayers resolve tax debt IR-2026-53,....

04/07/2026

Charitable Cash Donations

Beginning in the 2026 tax year, a major benefit of cash donations is
the return of a permanent "above-the-line" deduction for non-itemizers, allowing individuals to deduct up to $1,000 ($2,000 for married filing jointly) in qualifying cash contributions from their adjusted gross income, even without itemizing deductions. This provides tax benefits to more donors.
Key Benefits and Details of 2026 Cash Donations:

Tax Deduction for Non-Itemizers: Taxpayers who claim the standard deduction can still deduct up to $1,000/$2,000 in cash donations made to qualified public charities, making it easier for average taxpayers to receive tax benefits for philanthropy.
Eligible Payment Methods: This deduction applies to cash contributions, which include checks, credit cards, debit cards, payroll deductions, and online donations.
Reduced Taxable Income: As an "above-the-line" deduction, this lowers your Adjusted Gross Income (AGI), which can provide tax benefits regardless of whether you itemize.
Increased Contribution Limit: The law extends the ability to deduct cash contributions up to 60% of AGI, allowing higher-income donors to make significant, tax-advantaged gifts.
Key Restrictions: Donations to donor-advised funds (DAFs) and private foundations are generally not eligible for this specific deduction.
Documentation Required: For gifts of $250 or more, donors must keep records like bank statements, cancelled checks, or written acknowledgments from the charity.

04/03/2026

Meet the new mascots of Great Lakes Accounting Service, Inc. Carmen & Jasmine. Photo credit to Jeanne Blakey.

04/03/2026

https://www.irs.gov/newsroom/tax-time-guide-steps-taxpayers-can-take-now-to-resolve-tax-issues-and-stay-on-track

IR-2026-41, March 26, 2026 — Taxpayers who owe taxes or have not yet filed can benefit from acting early.