article thumbnail

IRS Extends Deadline for California Taxpayers Impacted by Natural Disasters

Withum

The last updated news release on February 24, 2023, states that affected taxpayers now have until October 16, 2023 to file various individual and business tax returns and make tax payments. 16 deadline also applies to 2023 estimated tax payments, normally due on April 18, June 15 and Sept.

article thumbnail

Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

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 tax returns and report the corporate dividends and capital gains they get as part of their taxable income.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

2022 Year-End Tax Planning Checklist

Withum

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 Tax Services Team to start planning as year-end approaches. Energy credits.

article thumbnail

Friday Footnotes: Why People Leave Public Accounting; Audit Workloads Up; Terrorist Clients (Literally) | 12.2.22

Going Concern

The Internal Revenue Service’s inspector general said in a report on Thursday that highly invasive audits of two of former President Donald J. McCabe — happened after their tax returns were randomly selected for inclusion in the initial pools from which the agency drew to carry out the examinations. director James B.