News and Events

We are reminded by the Internal Revenue Service to use their Tax Withholding Estimator if your 2023 withholdings need to be adjusted for next year. A few situations you may have not thought about that can change your return are: Using the Tax Withholding Estimator can help you see if you will get a refund […]

Now is the time to start gathering your tax support documents needed to prepare your 2022 Income Tax Return. Before bringing your paperwork into our office, here are a few things to check off your list: Gather tax paperwork and records for accuracy: Remember to report all types of income: You can avoid phone delays […]

The Internal Revenue Service (IRS) recently announced that they will begin accepting and processing 2022 tax year returns on January 23, 2023.  North Carolina Department of Revenue (NCDOR) is anticipating accepting 2022 Corporate Income and Franchise, Partnership Income, and Estates and Trust Income tax returns by Friday, January 27, 2023. 2022 Individual Income tax returns […]

We are looking forward to working with all of our clients again this year as we prepare for the 2023 tax season and want to take the opportunity to send a reminder as to the importance of submitting your tax documents by the due dates listed below. For our clients providing business tax information, it […]

The implementation of the $600 reporting threshold for third-party payment platforms’ Form 1099-K has been delayed. Third-party settlement organizations will now not be required to report their transactions for 2022 on this form to the IRS or the payee. Click on the links below to read about topic. Form 1099-K Implementation Delay Form 1099-K Frequently Asked […]

The Internal Revenue Service recently issued the standard mileage rates for 2023. If you need to calculate deductible costs of operating a vehicle for business, charitable, medical or moving purposes, you will want to click here to view the current rate and read about this topic. Source: Internal Revenue Service

Employers are required to file 2022 Form NC-3 electronically, along with Forms W-2 and Forms 1099-NEC. A $200 penalty will be assessed for failure to comply. These forms must be submitted by Tuesday, January 31, 2023. Click on the links below for filing information for Form NC-3, Form W-2 and Form 1099-NEC. NC Withholding Tax Information and Upload […]

Form W-2 and other wage statements must be filed by employers by Tuesday, January 31, 2023. Form 1099-NEC, which reports non-employee compensation, must be filed by employers by Tuesday, January 31, 2023. Both of these forms are due to recipients by Tuesday, January 31, 2023. Click on the links below for more information on these two forms. Form […]

Martin Starnes & Associates, CPAs, P.A. (MSA) would like to wish you and your family a very Happy New Year!    We hope 2022 was a successful year for you and your organization despite any ups and downs you may have faced.  As the new year causes us to reflect on the past, we would like to take this opportunity to say thank […]