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Oct. 16, 2023, is Deadline for Millions Who Filed Tax Extensions; But Many Get More Time Due to Disasters

CPA Practice

October 16 is this year’s deadline for taxpayers who requested additional time to file their taxes. This is often necessary for taxpayers who are still waiting on some documents before they can file their returns. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. 16 due date.

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Oct. 16, 2023, is Deadline for Taxpayers with an Extension

CPA Practice

October 16 is this year’s deadline for taxpayers who requested additional time to file their taxes. This is often necessary for taxpayers who are still waiting on some documents before they can file their returns. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. 16 due date.

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Avalara Gives Update on Online Marketplace and Tax Changes in 2024

CPA Practice

By 2027, marketplaces may account for 59% of ecommerce globally. But running a marketplace also brings unique tax and compliance challenges. Our 2024 Avalara Tax Changes report explores new and changing requirements for marketplace facilitators and sellers across a variety of industries. Who wouldn’t want a piece of that pie?

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Last Week in Payroll: Backup Withholding

ThomsonReuters

Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed. Beginning in tax year 2020, the IRS issued a new Form 1099-NEC for business taxpayers who receive nonemployee.

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Last Week in Payroll: Minimum Wage

ThomsonReuters

Although it is possible to automate payroll systems to account for these minimum wage increases, it is a good idea for payroll professionals to be aware of these changes to avoid the possibility of underpaying employees. Generally, if a tax filing or payment deadline falls on a weekend or legal holiday, the due date is the next business day.

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