RMS Accounting - Your Account in South Florida

Tax Relief for Victims of Hurricane Ian in Florida

Oct 7, 2022 | Blog, Business Tax, Personal Tax

The IRS Announced Tax Relief for Victims of Hurricane Ian in Florida on September 29, 2022. Following the recent disaster declaration issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in certain areas will receive tax...

2022 Changes to the Credit for Electric Vehicles

Oct 3, 2022 | Blog, Business Tax, Personal Tax

Changes in the Electric Vehicle Tax Credit The Inflation Reduction Act of 2022 includes changes to the credit available for electric vehicles. The changes are complex, and phase in over time. If you are in the market for an electric vehicle, we should review the new...

2022 Educator Expense Deduction Increased to $300

Sep 19, 2022 | Blog, Personal Tax

The educator expense deduction has been increased for this year. Now teachers and other educators can deduct up to $300 in out-of-pocket classroom expenses when they file their 2022 federal income tax return. Who qualifies? Anyone who, is a teacher, instructor,...

IRS Announces Penalty Relief Late Filing of 2019 & 2020 Returns

Aug 31, 2022 | Blog, Business Tax, Personal Tax

Penalty Relief: IRS Notice 2022-36 The IRS has announced broad-based penalty relief for certain 2019 and 2020 returns due to the COVID-19 pandemic. The penalty relief will be automatic for people and businesses who qualify. Relief applies specifically to the failure...

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Tax Relief for Victims of Hurricane Ian in Florida

2022 Changes to the Credit for Electric Vehicles

2022 Educator Expense Deduction Increased to $300

IRS Announces Penalty Relief Late Filing of 2019 & 2020 Returns

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