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IRS provides relief for certain employers claiming the Work Opportunity Tax Credit

WASHINGTON — The Internal Revenue Service today announced it is providing transition relief to certain employers claiming the Work Opportunity Tax Credit (WOTC). The WOTC is a federal income tax credit available to employers that hire certified…
WXC Corporation Doral Miami
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2021 Tax Breaks for Self-Employed Business Vehicles

The new 2022 car and truck models will be in dealership showrooms soon. If you’re in the market for a vehicle for your self-employed business, don’t forget to factor taxes into the equation. Starting point: Generally, you can claim deductions…
WXC Corporation Doral Miami
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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 Doral
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Home Values Up 11.6% Over Last Year

Seemingly endless demand and low supply have driven record-breaking home value appreciation over the past year, Zillow's latest Market Report shows. Data from April pushed the envelope even further: Annual home value growth for a typical U.S.…
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IRS urges caution with email, social media and phones

WASHINGTON — The Internal Revenue Service today continues its "Dirty Dozen" scam series with a warning to taxpayers to watch out for unexpected schemes in the form of emails, text or social media messages and phone calls. Unscrupulous…
WXC Corporation Miami Doral
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IRS release state-by-state data on third round of Economic Impact Payments

WASHINGTON — The Internal Revenue Service and the Treasury Department released information today detailing how many people in each state received the third round of Economic Impact Payments through early June. The new details, available…
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IRS sending more than 2.8 million refunds to those who already paid taxes

WASHINGTON —The Internal Revenue Service is sending more than 2.8 million refunds this week to taxpayers who paid taxes on unemployment compensation that new legislation now excludes as income. IRS efforts to correct unemployment compensation…
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Two Thirds of Small Business Fear Inflation Will Hurt Recovery

The Alignable Inflation Poll, conducted among 7,735 small business owners from 4/24/21 to 5/5/21, shows that more than two out of three small business owners (67%) are concerned that inflation will hurt their ability to recover. And 38% of small…
WXC Corporation Miami Doral
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Interest rates remain the same for the third quarter of 2021

WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2021. The rates will be: 3% for overpayments (two (2) % in the case of a corporation), …