WXC Corporation Doral Miami
,

IRS reminds gig workers, self-employed to pay quarter estimated taxes

WASHINGTON — The Internal Revenue Service sent a reminder to taxpayers who pay estimated taxes that the deadline to submit their third quarter payment was Sept. 15, 2023. Taxpayers not subject to withholding may need to make quarterly…
WXC Corporation Doral Miami
,

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)…
WXC Corporation Doral Miami
,

Red flags for Employee Retention Credit claims

WASHINGTON — The Internal Revenue Service continues to warn businesses to watch out for aggressive marketing by nefarious actors involving the Employee Retention Credit (ERC) and urged people to watch out for red flags that can signal trouble. The…
WXC Corporation Doral Miami
,

IRS expands use of chatbots to help answer questions on key notices

WASHINGTON — The Internal Revenue Service today announced the availability of expanded chatbot technology to help quickly answer basic questions for people receiving notices about possibly underreporting their taxes. The new chatbot feature…
WXC Corporation Doral Miami
,

IRS: Those impacted by Idalia qualify for tax relief

WASHINGTON — The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns…
WXC Corporation Doral
,

IRS launches paperless processing initiative

Taxpayers will have the option to go paperless for IRS correspondence by 2024 filing season, IRS to achieve paperless processing for all tax returns by filing season 2025 FS-2023-18, Aug. 2023 IRS paperless processing initiative will eliminate…
wxc corporation miami
,

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…
WXC Corporation Miami Doral
,

Interest rates increase for the fourth quarter 2023

WASHINGTON — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning Oct.1, 2023. For individuals, the rate for overpayments and underpayments will be 8% per year, compounded daily.…
WXC Corporation Doral Miami
,

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…