WXC Corporation Miami Doral

IRS reminds employers to e-file payroll tax returns timely

WASHINGTON — The Internal Revenue Service today reminded employers that the next quarterly payroll tax return is due November 1, 2021. The IRS urges employers to use the speed and convenience of filing the returns electronically. E-filing…
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69% of Leisure Travelers to Reduce Trips Due to Delta Variant

U.S. leisure travelers plan to significantly pare back travel plans amid rising COVID-19 cases, with 69% planning to take fewer trips, 55% planning to postpone existing travel plans, and 42% likely to cancel existing plans without rescheduling,…
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IRS reminds business owners to correctly identify workers as employees or independent contractors

WASHINGTON — During National Small Business Week, the Internal Revenue Service reminds business owners that it's critical to correctly determine whether the individuals providing services are employees or independent contractors. An employee…
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Expanded tax benefits help individuals and businesses give to charity during 2021

WASHINGTON — The Internal Revenue Service today explained how expanded tax benefits can help both individuals and businesses give to charity before the end of this year. The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted…
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Oct. 15 deadline for taxpayers who requested extensions to file 2020 tax returns

WASHINGTON — The Internal Revenue Service today reminds taxpayers about the upcoming October 15 due date to file 2020 tax returns. People who asked for an extension should file on or before the extension deadline to avoid the penalty for filing…
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Treasury, IRS provide additional guidance to employers claiming the employee retention credit

WASHINGTON — The Treasury Department and the Internal Revenue Service today issued further guidance on the employee retention credit, including guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022,…
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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…
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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…
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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…