Current Resources and Announcements
Check here often for the latest trends, tips and information from the IRS, Arizona Department of Revenue and other agencies and industry leaders. Past posts and articles have been categorized here for quick reference.
Issue Number: Tax Tip 2023-03: Tax basics: Understanding the difference between standard and itemized deductions
One of the first decisions taxpayers must make when completing a tax return is whether to take the standard deduction or itemize their deductions. There are several factors that can influence a taxpayer’s choice, including changes to their tax situation, any changes...
Issue Number: Tax Tip 2023-02: Taxpayers should hang up if tax season scammers come calling
The tax filing season is a popular time for scammers to call and try to dupe unsuspecting taxpayers. These thieves often make threatening or alarming calls posing as the IRS to try to steal taxpayer money or personal information. However, it’s easy for people to...
City of Prescott Sales Tax Rate to Decrease Effective January 1, 2023
https://www.prescott-az.gov/city-of-prescott-sales-tax-rate-to-decrease-effective-january-1-2023/ Slater & Rutherford offers a broad range of professional accounting, tax, and audit services to individuals and businesses throughout Yavapai County and Northern...
IR-2022-220: IRS reminder: For many employers and self-employed people, deferred Social Security tax payment due Dec. 31
WASHINGTON — The Internal Revenue Service today reminded employers and self-employed individuals that chose to defer paying part of their 2020 Social Security tax liability that their second annual installment of the deferred amount is due on December 31, 2022. As...
Arizona Department of Revenue: 2022 Standard Deductions and Key Tax Changes
Phoenix, AZ—The Arizona Department of Revenue would like to inform taxpayers of the tax year 2022 annual adjustments for Arizona standard deductions, new tax credits, and the reduced tax rate for small business income tax. Tax year 2022 adjustments generally are used...
Issue Number: Tax Tip 2022-183: Good recordkeeping year-round helps taxpayers avoid tax time frustration
Wading through a pile of statements, receipts and other financial documents when it’s time to prepare a tax return can be frustrating for people who haven’t managed their records. By knowing what they need to keep and how long to keep it, people can develop a good...
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