WXC Corporation Miami Doral
,

IRS updates feature on Where’s My Refund?

The Internal Revenue Service made an important enhancement to the Where's My Refund? online tool this week, introducing a new feature that allows taxpayers to check the status of their current tax year and two previous years' refunds. Taxpayers…
WXC Corporation Miami Doral
,

IRS interest rates increase for the third quarter of 2022

WASHINGTON — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning July 1, 2022. The rates will be: 5% for overpayments (4% in the case of a corporation). 2.5% for the portion…
WXC Corporation Miami Doral
,

New Tax Twists and Turns for Moving Expense Deductions

Can you deduct the cost of moving expenses on your personal tax return? Probably not. Under the Tax Cuts and Jobs Act (TCJ), the deduction for job-related moving expenses has been suspended for 2018 through 2025, except for certain military…
WXC Corporation Miami Doral
,

Imports Set New Record at U.S. Ports

Imports at the nation’s major retail container ports set a new record this spring and are expected to see near-record volume this month as retailers bring in merchandise ahead of rising costs and further supply chain issues, according to the…
WXC Corporation Miami Doral
,

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
,

IRS reminds penalty relief related to Employee Retention Credit

WASHINGTON — The Department of the Treasury and the Internal Revenue Service have received requests from taxpayers and their advisors for relief from penalties arising when additional income tax is owed because the deduction for qualified…
WXC Corporation Miami Doral
,

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 Corporations Miami Doral
,

U.S. Ports Seeing Brief Slowdown From Last Year But Imports Remain High

The nation’s major retail container ports have begun to catch up with the backlog of cargo seen over the past several months but could experience another surge this summer, according to the monthly Global Port Tracker report released by the…
WXC Corporation Doral Miami
,

Many Small Businesses Still Struggling to Come Back from Pandemic

After two years of retooling and resilience, small businesses still face a difficult recovery, with nearly 80% of small businesses reporting continued negative effects and 63% reporting a reduction in revenue compared to 2019. Minority-owned…