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Reasons why some tax refunds filed electronically take longer than 21 days

WASHINGTON — Even though the Internal Revenue Service issues most refunds in less than 21 days for taxpayers who filed electronically and chose direct deposit, some refunds may take longer. Many different factors can affect the timing of…
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Interest rates increase for the second quarter of 2022

WASHINGTON — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning April 1, 2022. The rates will be: 4% for overpayments (3% in the case of a corporation); 1.5% for the portion…
WXC Corporation Miami Doral
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Hotel Industry Forecasts Improving Market for Lodging

The hotel industry will continue moving toward recovery in 2022, but the path will be uneven and potentially volatile, and full recovery is still several years away, according to the American Hotel & Lodging Association (AHLA)’s 2022…
WXC Corporation Doral Miami
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41% of Workers Considering a New Job in 2022

For many workers, 2022 will be a chance to start anew, perhaps even with a new job, research from talent solutions and business consulting firm Robert Half shows. The company's biannual Job Optimism Survey of more than 2,400 professionals tracks…
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Top 5 things to remember when filing income tax returns in 2022

WASHINGTON — With filing season beginning January 24, the Internal Revenue Service reminded taxpayers about several key items to keep in mind when filing their federal income tax returns this year. Given the unprecedented circumstances…
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IRS sets forth required information for a valid research credit claim for refund

WASHINGTON — The IRS has set forth the information that taxpayers will be required to include for a research credit claim for refund to be considered valid. Existing Treasury Regulations require that for a refund claim to be valid, it must…
WXC Corporation Miami Doral
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COVID relief: IRS helps employers wanting to rehire retirees

WASHINGTON — To help address COVID-related labor shortages, the Internal Revenue Service today reminded employers that they generally will not jeopardize the tax status of their pension plans if they rehire retirees or permit distributions…
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69% of Leisure Travelers to Reduce Trips Due to Delta Variant

U.S. leisure travelers plan to significantly pare back travel plans amid rising COVID-19 cases, with 69% planning to take fewer trips, 55% planning to postpone existing travel plans, and 42% likely to cancel existing plans without rescheduling,…
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Oct. 15 deadline for taxpayers who requested extensions to file 2020 tax returns

WASHINGTON — The Internal Revenue Service today reminds taxpayers about the upcoming October 15 due date to file 2020 tax returns. People who asked for an extension should file on or before the extension deadline to avoid the penalty for filing…