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The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a taxreturn could leave a taxpayer open to liability for unpaid taxes, penalties and interest.
On August 9, 2024, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in all of South Carolina, most of Florida and North Carolina, and part of Georgia that were affected by Hurricane Debby.
Last week, the Federal Government released guidance allowing certain federal tax filings and payments to be extended until February 15, 2023, for the victims of Hurricane Ian. Individuals and households affected by Hurricane Ian that reside anywhere in Florida qualify for tax relief. Contact Us. Let’s Chat.
On August 30, 2023, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in parts of Florida that were affected by Hurricane Idalia. 46 of Florida’s 67 counties were mentioned in the News Release, but others have been added since then. 15, 2023, and Jan. 31, 2023, and Jan.
You can’t discount the value and simplicity that these services can offer, but how can you be confident that these services will understand your local business or Florida state law? Unfortunately, accounting software is similarly generic and can only take you so far in navigating the needs of local Florida businesses.
The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. This includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, 41 counties in Florida, eight counties in Tennessee, and six counties and one city in Virginia.
Key measures include: Tax Deadline Extensions : Taxpayers in affected areas have been granted extensions for filing and payment deadlines, now postponed to May 1, 2025. This relief is available in parts or all of Georgia, South Carolina, North Carolina, Alabama, Tennessee and Florida. More details can be found on the IRS website.
For example, common states where people move to reduce state taxes are Florida, Texas, Wyoming, and Nevada. Geography, such as distressed zones, enterprise zones, or tax-increment finance districts. Contact a member of Withum’s TaxServices Team to start planning as year-end approaches. Energy credits.
The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate. Shareholders still must file their personal income taxreturns and report the corporate dividends and capital gains they get as part of their taxable income.
Since joining the firm in 2021, Brianna has excelled in accounting, auditing, compliance, financial statement preparation, taxreturn preparation, and special projects. Nathan, who joined the firm in 2022, has shown outstanding proficiency in accounting, compliance, taxreturn preparation, business valuations, and special projects.
Consider relocating your residency and domicile for the purpose of reducing or eliminating your state income tax. For example, common states where people move to reduce state income taxes are Florida, Texas, Wyoming, and Nevada. The post Private Client Services: Individual Tax Planning appeared first on Withum.
Florida state tax website bug exposed filers’ data [ TechCrunch ]. A security flaw on the Florida Department of Revenue website exposed at least hundreds of taxpayers’ Social Security numbers and bank account numbers, a security researcher found. Trump’s chief enemies — the former F.B.I. director James B.
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