,

IRS highlights higher penalties for some tax returns filed after Sept. 14

WASHINGTON — The Internal Revenue Service today urged individuals who owe taxes but have not yet filed for 2019 to act now to avoid larger penalties that, by law, start after Sept. 14. The tax deadline was July 15 this year. Taxpayers who…
,

IRS adds six more forms to list that can be signed digitally; 16 now available

WASHINGTON — On August 28, the IRS announced that it would temporarily allow the use of digital signatures on certain forms that cannot be filed electronically. Today, the agency added several more forms (PDF) PDF to that list. The…
,

IRS reminds taxpayers who filed an extension that the Oct. 15 due date approaches

WASHINGTON – The Internal Revenue Service today reminds taxpayers who filed an extension that the October 15 due date to file 2019 tax returns is approaching. Taxpayers should complete their tax returns and file on or before the October 15…
WXC Corporation Miami
,

What is a Series LLC and why your clients should care

A slowdown in the economy means your clients may have some time on their hands to get their businesses better organized. One option you might suggest is for them to better  protect their assets by setting up a series limited liability company…
WXC Corporation Miami
,

IRS issues final regulations on business interest expense deduction limitation

WASHINGTON — The Internal Revenue Service issued final regulations (PDF) regarding the provision of the Tax Cuts and Jobs Act that limits the deduction for business interest expense, including basic statutory amendments made by the CARES…
WXC Corporation Miami
,

IRS grants additional relief for rehabilitation credit deadlines

WASHINGTON — Because of the burdens the COVID-19 pandemic has placed on taxpayers claiming the rehabilitation credit, the Internal Revenue Service today issued Notice 2020-58 (PDF) that provides additional relief to taxpayers in satisfying…
WXC Corporation Miami
,

IRS: New law provides relief for eligible taxpayers

WASHINGTON — The Internal Revenue Service provided a reminder today that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment for withdrawals from retirement…

45% of U.S. Workplaces Don’t Have a Return to Work Date Set

A new shows that while 53 percent of U.S. workplaces plan to reopen by July 15, at least 45 percent have yet to set a return to work date. Sponsored by the SHRM (Society for Human Resource Management), the survey reveals not only when workers…

An extension to file is not an extension to pay taxes

For most taxpayers the filing and payment deadline was postponed July 15. Those who need more time to file beyond the postponed date, can request an extension to file. Taxpayers must request an extension to file by July 15. This gives them…