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Pay Close Attention to Your 2020 Financial Documents - Especially 1099s

The Connecticut Society of CPAs (CTCPA) is warning residents to pay close attention to the accuracy of their 2020 financial documents, especially 1099s recording unemployment funds received.  Click through for more information.

Will You Be Subject to a Penalty for Not Filing Your 2020 Estimated Taxes?

2020 was a hard year. But taxes for that crazy year still will be due on April 15, 2021, and if you underestimated the amount of tax you owe, you may be subject to a hefty penalty. Click through to find out whether you could be delinquent.

Reporting Virtual Currency to the IRS in 2020

Taxpayers must now answer a question about virtual currency on their 2020 Form 1040.  Click through for more details about disclosing cryptocurrency to the IRS.

New York State Revenue Bill Proposals

On January 19th, 2021, New York’s Governor Andrew Cuomo announced a revenue bill that will be part of the state’s fiscal year 2022 budget.  Click through for more details on the budget proposals.

IRS Clarifies Issues Around CP59 Notices

The IRS erroneously sent CP59 notices to many taxpayers, due to confusion about the filing of 2019 returns. The agency has now issued a clarifying statement. Click through for a full explanation.

Please Welcome

We are pleased to announce the newest addition to the CironeFriedberg family. Click through to meet our new team member.

CironeFriedberg, LLP
CironeFriedberg, LLP
info@cironefriedberg.com
24 Stony Hill Rd, Bethel, CT 06801
(203) 798-2721
6 Research Dr, Suite 450, Shelton, CT 06484
(203) 366-5876
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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