News
How to Navigate The Colorado Sales Tax Forgiveness Program For Food & Beverage Industries
Colorado recently enacted legislation allowing retailers in the restaurant, bar, mobile food service, and catering industries to receive sales tax forgiveness for the period of July through September 2022. As a result of the COVID-19 pandemic, the Colorado Department of Revenue introduced House Bill 1004, Covid-19 Sales Tax Relief in December 2020. The measures of […]
Worried About Inflation? Good News – The IRS Is Raising Its Optional Standard Mileage Rate For The Rest Of 2022
On June 9th, the IRS announced an increase in the optional standard mileage rate for the rest of 2022. Due to the effects of inflation and the increase in gas prices across the nation, the standard mileage rate for business travel will now be increased to 62.5 cents per mile traveled, which is 4 cents […]
UPDATED: Colorado Taxpayers To Receive $800 TABOR Refund in 2024
Updated Thursday, January 11th, 2024 The next round of TABOR refund checks will be in Spring, 2024. Colorado taxpayers can expect their state refund after filing their Colorado state income taxes. Here’s what you need to know: Your 2024 TABOR refund will continue to be considered non-taxable income. Your TABOR refund will be processed upon […]
TurboTax Lawsuit: FTC Sues Intuit Over Misleading ‘Free Filing’ Ads
You know the ads: “Free free, free free free free.” For years, TurboTax maker Intuit has run ad campaigns focusing on the word, “free,” but can all TurboTax users really file their taxes for free? The answer is actually no (more on that later), and in a lawsuit filed March 27 of this year, the […]
“A New Era Of Enforcement”: What The IRS Hiring Surge Means For You
Last week, the Washington Post reported that the IRS plans to hire 5,000 new employees in the next month. Along with the implementation of a second “surge team” of reassigned employees and contractors, the move represents the agency’s most aggressive effort yet to address its massive backlog of tax returns and correspondence — a result […]
Boxelder Named One Of Denver’s Best Tax Services For 2022
Boxelder Consulting is honored to announce that our firm has been named to Expertise.com’s list of the Best Tax Services in Denver for 2022. Our team was selected from a competitive pool of more than 150 Denver tax firms, earning recognition for our qualifications, level of experience, availability, professionalism, and reputation. Expertise specifically highlighted Boxelder’s […]
Denver IRS Office to Hire 15 New Revenue Officers by End of Year
In prior articles, we’ve covered how the Biden Administration’s infrastructure bill proposes an $80 billion budget increase to the IRS over the next 10 years to enforce tax collections. And while the bill is expected to pass through the House of Representatives soon, it probably won’t become law until at least early October. But the […]
Biden Proposes $80 Billion Increase To IRS Budget – What This Means For Taxpayers
President Biden has proposed allocating an extra $80 billion to the IRS over the next 10 years in an effort to beef up the agency’s authority. Administration officials believe that an IRS with more power to crack down on tax cheating will raise at least $700 billion within a decade. The administration also plans to […]
Federal Taxes Waived on up to $10,200 of Unemployment Benefits – But Wait on Filing Your Amended Return
Two weeks ago, Joe Biden signed the American Rescue Plan Act of 2021, waiving federal taxes on up to $10,200 of unemployment benefits for single adults making less than 150,000 per year. For couples filing jointly, that number is doubled to $20,400. Since unemployment earnings are typically taxed just like normal wages, the unemployment tax […]