Withum

JUNE 24, 2025

The deduction was provided under the Tax Cuts and Jobs Act in order to provide more equity in the applied tax rates for pass-through businesses and C Corporations, given that the C Corporation tax rate was decreased from 35% to 21% as part of the legislation.

Tax

Accounting Today

JULY 25, 2025

By Chris Gaetano 2h ago Tax IRS warns: Revalidate business tax accounts by July 29 or lose access The Internal Revenue Service said "designated officials" need to revalidate their business tax account by the July 29 deadline in order to maintain access. All rights reserved. Nomination information is available here.

Rhode Island

Withum

JUNE 12, 2024

The bonus depreciation rate decreased to 80% in 2023 and will continue to decrease by 20% each year until it is zero for property placed in service after December 31, 2026. Tax Provisions to Sunset After 2025 QBI Deduction Beginning in 2026, the 20% 199A QBIT deduction will no longer be available. million taxpayers.

income tax

Withum

OCTOBER 3, 2024

2023 Federal Form 1120 (C Corporations) April 15, 2023 October 15, 2024 May 1, 2025 2023 C Corporation Tax Payments April 15, 2023 June 15, 2023 September 15, 2023 December 15, 2023 N/A The IRS noted payments related to 2023 returns are not eligible for the extra time because they were due last spring before the hurricane occurred.

South Carolina

Inform Accounting

MARCH 15, 2023

What was hoped was that the chancellor was going to stop the planned corporation tax rise from 19% to 25% for businesses earning between £50k and £250k in profits. Sadly, this tax rise and all its complications still take effect. These will prove very punitive if you run multiple businesses. Reduce your overheads?

Non-Profits

Inform Accounting

NOVEMBER 18, 2022

The leaked and previously announced tax increases are still going ahead…. Corporation tax from April 1 2023 to increase to 25% for companies with profits over £250,000. Companies with profits under £50,000 will be taxed at 19%. Companies with profits between £50,000 and £250,000 will be taxed between 19% and 25%.

Tax

ThomsonReuters

MARCH 9, 2023

Congress passed the Inflation Reduction Act of 2022 which extends, through 2024, the credit for electricity produced from certain renewable resources; the energy credit; and other energy-related credits (with various extension dates) The Act also introduces two new corporate taxes and various new clean energy-related tax credits.

Tax