John T. Andrews CPA, PC

04/25/2022

The IRS posted an article regarding after tax day questions:

This year’s deadline to file and pay federal income taxes has passed for most people. If a taxpayer is due a refund, there is no penalty for filing late. However, those who owe and missed the deadline without requesting an extension should file quickly to limit penalties and interest.

Click the link below to read more about these topics:
* Check refund status
* Check withholding
* Review payment options
* Carefully consider if you need to amend a tax return

COVID Tax Tip 2022-63, April 25, 2022 — This year’s deadline to file and pay federal income taxes has passed for most people. If a taxpayer is due a refund, there is no penalty for filing late. However, those who owe and missed the deadline without requesting an extension should file quickly to ...

04/11/2022

Massachusetts COVID-19 Essential Employee Premium Pay Program

This program will distribute $500 million to lower-wage frontline workers who put themselves at risk with admirable commitment to their communities.

This program will distribute $500 million to lower-wage frontline workers who put themselves at risk with admirable commitment to their communities.

01/03/2022

Happy New Year!

Here is our Newsletter from December in case you missed it.

Here's some good news for you from the IRS as you get older: You get extra tax breaks. The Internal Revenue Code and other laws contain special provisions for the elderly. Click through to make sure you don't leave anything on the table.

06/10/2021

"There have been important changes to the Child Tax Credit that will help many families receive advance payments starting this summer.

For tax year 2021, families claiming the CTC will receive up to $3,000 per qualifying child between the ages of 6 and 17 at the end of 2021. They will receive $3,600 per qualifying child under age 6 at the end of 2021. Under the prior law, the amount of the CTC was up to $2,000 per qualifying child under the age of 17 at the end of the year.

Advance payments of the 2021 Child Tax Credit will be made regularly from July through December to eligible taxpayers who have a main home in the United States for more than half the year. The total of the advance payments will be up to 50 percent of the Child Tax Credit. "

Information for taxpayers who may receive advance Child Tax Credit payments in 2021.

06/09/2021

June Newsletter:
> Exploding 6 Estate-Planning Myths
> The Advantages of an ABLE Account and Saver's Credit
> How To Deposit and Report Employment Taxes
> What To Know About Pricing Strategies

Many people don't understand exactly what estate planning is and have misconceptions about what is involved. Click through to read about the confusion so common today so you can take the next steps on firm ground.

05/18/2021

The government has announced inflation-adjusted changes for health savings accounts. The new limits are a small increase over 2021. Click through for the details to remain in compliance next year.