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Taxpayers who owe and missed the April 18

WASHINGTON — The Internal Revenue Service encourages taxpayers who missed Monday's April 18 tax-filing deadline to file as soon as possible. While taxpayers due a refund receive no penalty for filing late, those who owe and missed the deadline…
WXC Corporation Miami Doral
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Extensions of time to file tax returns; some taxpayers instantly qualify

WASHINGTON — Taxpayers requesting an extension will have until Monday, Oct. 17, 2022, to file a return. Not everyone has to ask for more time, however. Disaster victims, taxpayers serving in combat zones and those living abroad automatically…
WXC Corporation Doral Miami
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IRS reminds holders of foreign bank of April FBAR deadline

WASHINGTON – The Internal Revenue Service today reminded U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is April 15. For additional…
WXC Corporation Miami Doral
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IRS warning: Scammers work year-round

WASHINGTON — As the new year begins, the Internal Revenue Service reminds taxpayers to protect their personal and financial information throughout the year and watch out for IRS impersonation scams, along with other schemes, that try to trick…
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All third Economic Impact Payments issued

WASHINGTON – The Internal Revenue Service announced today that all third-round Economic Impact Payments have been issued and reminds people how to claim any remaining stimulus payment they’re entitled to on their 2021 income tax return as…
WXC Corporation Miami Doral
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IRS announces 401(k) limit increases to $20,500

WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2022 has increased to $20,500, up from $19,500 for 2021 and 2020. The IRS today also issued technical guidance regarding…
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IRS: Families now receiving August Child Tax Credit payments

WASHINGTON — The Internal Revenue Service and the Treasury Department announced today that millions of American families are now receiving their advance Child Tax Credit (CTC) payment for the month of August as direct deposits begin posting…
WXC Corporation Miami
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IRS: New law provides relief for eligible taxpayers

WASHINGTON — The Internal Revenue Service provided a reminder today that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment for withdrawals from retirement…
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IRS: Make a tax payment now, avoid a tax-time surprise

WASHINGTON —Taxpayers who paid too little tax during 2019 can still avoid a tax-time surprise by making a quarterly estimated tax payment now, directly to the Internal Revenue Service. The deadline for making a payment for the…