News and Events

Important Reminder – Due Dates

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 […]

Form 1099-K Delay for Third-Party Payment Platforms

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 […]

IRS Issues Standard Mileage Rates for 2023

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

NCDOR Requires Electronic Filing of Annual Withholding Tax Reconciliation

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 […]

January 31, 2023 Deadline for Wage Statements & Information Returns

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 […]

Happy New Year From MSA

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 […]

MSA Participates in NCACPA Volunteer 365/CPA Day of Service

Once again, MSA employees did not disappoint when it came to the annual North Carolina Association of Certified Public Accountants (NCACPA) Volunteer 365 event (formerly called CPA Day of Service). We collected canned food to share with the Hickory Soup Kitchen along with cleaning, preparing and serving during lunch to those in need. We also […]

Preparing for Filing Taxes in 2023 – What Do You Need to Know?

It is not too early to start thinking about preparing for filing your 2023 taxes! The Internal Revenue Service (IRS) encourages every one to begin taking action to get ready for the upcoming tax season. Please click here to learn more this topic. Source: Internal Revenue Service

RS Reminder: Annual 2020 Deferred Social Security Tax Payment Due December 31, 2022

Attention employers and self-employed individuals who chose to defer paying part of their 2020 social security tax liability! Your second annual installment is due December 31, 2022. Employers and self-employed individuals were able to choose delaying paying their social security liability as part of the COVID relief provided during 2020. The payment for the first half […]