WXC Corporation Doral Miami

Tax Issues When Selling a House After a Divorce

What are the tax consequences regarding a home sale if you and your spouse split up or divorce? The home sale exclusion remains one of the biggest and best tax breaks on the books. If a married couple filing jointly qualifies, they can…
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Special options available to help taxpayers who missed the April deadline

WASHINGTON — The Internal Revenue Service today encouraged taxpayers who owe unpaid taxes and missed the April 18 tax deadline to file their 2022 federal income tax return and pay any tax due by Wednesday, June 14, to avoid a larger late-filing…
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Time is running out for refunds

WASHINGTON ― The Internal Revenue Service today encouraged nearly 1.5 million people across the nation to submit a tax return to claim their refunds for tax year 2019 by the July 17, 2023, deadline. The IRS estimates almost $1.5 billion…
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Returning to the Office? The Remote Work Reckoning

The list of companies requiring their employees to return to the office at least a few days per week keeps growing, and it includes many well-known names. Some have been met with a strong response from their employees — and not an enthusiastic…
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Jobs Report Shows Pay Increased by 6.5% Over Last Year

Private sector employment increased by 278,000 jobs in May and annual pay was up 6.5 percent year-over-year, according to the May ADP National Employment Report produced by the ADP Research Institute in collaboration with the Stanford…
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Florida storm victims qualify for tax relief; April 18 deadline, other dates extended to Aug. 15

WASHINGTON — Florida storm victims now have until Aug. 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS is offering relief to any area designated…
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IRS reminds U.S. taxpayers living and working abroad to file their 2022 tax return by June 15

WASHINGTON — The Internal Revenue Service today reminded American taxpayers living and working outside the U.S. to file their 2022 federal income tax return by Thursday, June 15. This deadline applies to both U.S. citizens and resident aliens…
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IRS: Going green could help taxpayers qualify for expanded home energy tax credits

WASHINGTON — The Internal Revenue Service reminds taxpayers that making certain energy efficient updates to their homes could qualify them for home energy tax credits. The credit amounts and types of qualifying expenses were expanded by…
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Interest rates remain the same for the third quarter of 2023

WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2023. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded…