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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…
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IRS launches business tax account

WASHINGTON — Following a dramatically improved 2023 filing season thanks to Inflation Reduction Act (IRA) investments, the Internal Revenue Service has targeted IRA resources on strengthening enforcement, with announcements on new initiatives…
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IRS clarifies rules for new corporate alternative minimum tax

WASHINGTON — The Department of Treasury and the Internal Revenue Service today issued Notice 2023-64PDF to provide additional interim guidance designed to help corporations determine whether the new corporate alternative minimum tax (CAMT)…
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Businesses must report of Cash Payments Over $10,000, beginning January 1, 2024

WASHINGTON —The Internal Revenue Service today announced that starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. This new requirement…
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Florida E-Verify Requirement Effective July 1, 2023

Starting July 1, 2023, Florida now requires that employers verify their new employee’s employment eligibility using E-Verify in addition to the Federal Form I-9. This new requirement applies only to employers where the new employee will be…
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IRS reminds tax-exempt organizations of annual May filing deadline

WASHINGTON — The Internal Revenue Service today reminded thousands of tax-exempt organizations of their May 15, 2023, filing deadline. The annual filing due date for certain returns filed by tax-exempt organizations is normally…
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Missed the April 18 filing deadline? File now to limit penalties and interest

WASHINGTON — The Internal Revenue Service today urged taxpayers who missed Tuesday's April 18 tax-filing deadline to file as soon as possible. Taxpayers who owe and missed the deadline without requesting an extension should file quickly to…
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IRS and Treasury issue final regulations on e-file for businesses

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued final regulations amending the rules for filing returns and other documents electronically (e-file). These regulations will require certain…
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Employer January 31 wage statement deadline almost here

WASHINGTON — The Internal Revenue Service today urged employers to be aware of the January deadline to file Forms W-2 and other wage statements. Filing these documents timely prevents late-filing penalties for employers, helps…