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IRS updates guidance on deductions for meals and entertainment

WASHINGTON — The Internal Revenue Service issued proposed regulations on the business expense deduction for meals and entertainment following changes made by the Tax Cuts and Jobs Act (TCJA). The 2017 TCJA eliminated the deduction for…

Some popular tax benefits renewed for 2019

WASHINGTON ― The Internal Revenue Service reminds taxpayers that it is processing tax returns claiming benefits extended or changed by recent legislation. Most taxpayers can file when they are ready – and as they normally would – if they…
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Florida Workers’ Compensation Compliance Notice

Verification of Workers' Compensation Coverage Dear Business Owner, The Department of Financial Services, Division of Workers' Compensation (Division) is conducting a workers' compensation insurance awareness campaign. The purpose of…
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6 Security Measures That Protect Small Businesses

Most companies have experienced at least one instance of check theft, in which a bad actor washed a legitimate check and cashed it. Cases of check theft dipped in the early 2010s as companies and banks shored up their security. Most companies…
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IRS: Don’t be victim to “ghost” tax return preparers

WASHINGTON — With the start of the 2020 tax filing season near, the Internal Revenue Service is reminding taxpayers to avoid unethical "ghost" tax return preparers. According to the IRS, a ghost preparer does not sign a tax return they…
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IRS kicks off 2020 tax filing season with returns due April 15

WASHINGTON ― The Internal Revenue Service successfully opened the 2020 tax filing season today as the agency begins accepting and processing federal tax returns for tax year 2019. The deadline to file a 2019 tax return and pay any tax owed…
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Jan. 31 filing deadline to file independent contractor forms

WASHINGTON — With just a few days remaining until the deadline, the Internal Revenue Service reminds employers and other businesses that January 31 is the filing deadline for submitting wage statements and forms for independent contractors…
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SBA Modifies Method for Calculating Annual Average Revenues for Small Businesses

In early December, the U.S. Small Business Administration published in the Federal Register a final rule to modify its method for calculating annual revenues used to prescribe size standards for small businesses. The final rule is effective…
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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…