On September 29, 2022, the IRS issued news release 2022-168 regarding Hurricane Ian. This release extends all tax return filing and tax payment deadlines starting on September 22, 2022 for individuals and business located in any area designated by the Federal Emergency Management Agency (FEMA), until February 15, 2023. As of this date, all counties Read More…
The IRS has extended tax relief to the victims of Hurricane Ida in six states from until February 15, 2022 to file various individual and business tax returns and make tax payments. Accordingly, the updated relief covers the entire states of Louisiana and Mississippi, as well as parts of New York, New Jersey, Connecticut and Read More…
Employers are scrambling to find ways to help their employees who are impacted by the novel coronavirus (COVID-19). Help is available. Now that the COVID-19 has been declared a national emergency,[1] Internal Revenue Code Section 139 can be used to allow employers to make tax-free payments or reimbursements to employees as “qualified disaster payments.” Below are Read More…
When an individual or a business incurs either a casualty or theft loss, questions often arise as to the deductibility of the loss, on their tax return. A casualty loss occurs when property is damaged, destroyed, or lost from any unexpected or sudden event, such as a fire or hurriane. A casualty loss does not Read More…
39 State Route 12, Suite 2, Flemington, NJ 08822 (908) 782-7900 Fax: (908) 782-4328
34 East Avenue, Woodstown, NJ 08098 (856) 769-0707 Fax: (856) 769-4657 info@bkc-cpa.com
© BKC, CPAs, PC. All rights reserved. 2024
