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Susan M Martin, CPA, PC is a full-service accounting firm serving clients throughout the area, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs.
On this website, you will find information about Susan M Martin, CPA, PC, including our list of services. We have also provided you with online resources to assist in the tax process and financial decision-making. These tools include financial calculators, news and links to other useful sites. Whether you are an individual or business in or around Bethpage, Susan M Martin, CPA, PC has years of valuable experience assisting professionals with their accounting needs.
"Inspirational Thought of the Month"
“The hardest thing in the world to undrstand is the Income Tax.”
- Albert Einstein
IRS PLANS TO ISSUE UNEMPLOYMENT REFUNDS IN MAY
The Internal Revenue Service said on Wednesday, it plans to take steps to automatically refund money starting in May and continuing through the summer to taxpayers who filed tax returns reporting unemployment compensation prior to recent changes under the ‘American Rescue Plan’.
The COVID relief package, which President Biden signed into law this month, enables taxpayers who earned under $150,000 in modified adjusted gross income to exclude unemployment compensation up to $20,400 if they’re married filing jointly, or $10,200 for all other eligible taxpayers. The relief package excludes only 2020 unemployment benefits. However, that change happened after some people already filed their taxes early this season, so the IRS said it will take steps in the spring and summer to figure out the appropriate change to their return, and that could result in a refund.
The first refunds are anticipated to go out in May and will continue into the summer.