WXC Corporation Miami Doral
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Many businesses must report beneficial ownership information

The Internal Revenue Service will sponsor a free one-hour webinar designed to help the many businesses that must report their beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network. Because this…
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IRS issues proposed regulations for Corporate Alternative Minimum Tax

WASHINGTON — The Internal Revenue Service today issued proposed regulations to provide guidance on the Corporate Alternative Minimum Tax (CAMT). The Inflation Reduction Act created the CAMT, which imposes a 15% minimum tax on the adjusted…
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IRS shares new warning signs of incorrect claims for Employee Retention Credit

The IRS recently shared five new warning signs of incorrect claims by businesses for the Employee Retention Credit. The new list comes from common issues the IRS has seen while reviewing and processing ERC claims. Aggressive promoters convinced…
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IRS shares more warning signs of incorrect claims for the Employee Retention Credit

WASHINGTON — As the Internal Revenue Service intensifies work on the Employee Retention Credit, the agency today shared five new warning signs being seen on incorrect claims by businesses. The new list comes from common issues the IRS compliance…
WXC Corporation Doral Miami
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Interest rates remain the same for the second quarter of 2024

WASHINGTON — The Internal Revenue Service today announced interest rates will remain the same for the calendar quarter beginning April 1, 2024. For individuals, the rate for overpayments and underpayments will be 8% per year, compounded…
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Jan. 31 filing deadline for employers to file wage statements

WASHINGTON - With tax season rapidly approaching, the IRS reminds employers that Jan. 31 is the deadline for submitting wage statements and forms for independent contractors with the government. Employers must file their copies…
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Minimum Wage in Florida – Notice to Employees

Effective September 30, 2023, the Florida minimum wage is $12.00 per hour, with a minimum wage of at least $8.98 per hour for tipped employees, in addition to tips, through September 29, 2024. On November 3, 2020, Florida voters approved…
WXC Corporation Doral Miami
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Treasury, IRS issue guidance for the advanced manufacturing production credit

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued proposed regulations to provide guidance for the advanced manufacturing production credit established by the Inflation Reduction Act (IRA). The new…
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Avoid a surprise next year; review tax withholding now before time runs out

WASHINGTON — With 2023 rapidly coming to a close, the Internal Revenue Service today encouraged taxpayers to review their tax withholding as soon as possible to avoid a potential surprise when they file their tax return next year. Although…