The anticipated April 15th deadline to file individual income tax returns and payments has been extended by the Treasury Department and Internal Revenue Service to Monday, May 17, 2021. Without filing an extension, individual’s income tax filings, and payments are not due until May 17th. This relief does not apply to estimated tax payments that Read More…
On August 7, 2020, the IRS released final regulations (T.D. 9907) regarding the interaction of the $10,000/$5,000 cap on state and local tax (SALT) deduction and charitable contributions. Your SALT deduction includes real estate taxes, state income taxes (unemployment, disability, family leave, personal property taxes) and local taxes. For tax years after 2017, an individuals Read More…
If you owe taxes on your 2018 tax return, the due date to make the payment is Monday, April 15. Miss this deadline by just one day and the IRS will charge you interest and penalties! Don’t risk adding unnecessary dollars to your tax bill. Review the payment options below and make a plan now Read More…
In a 5-4 ruling the Supreme Court issued their decision opening the door for states and localities to collect sales tax on interstate purchases made on the internet. This decision overturns the long-standing decision in Quill, issued by the Supreme Court in 1992, requiring a physical presence test be met by sellers in the jurisdiction Read More…
As businsses grow and mature, they start to acquire customers that are located in various states. In this internet age, this can happen much easier than a generation ago. Combined with the fact that states are hungry for tax revenue and are becoming more sophisticated in tracking down companies doing business in their state, this Read More…
Cash strapped states are always looking for methods of changing the tax laws, which will create more sales tax revenue. As a result, states are trying to make more and more transactions subject to their sales tax. Businesses must become more aware of sales and use tax regulations, both within the state that their business Read More…
May 18, 2016 the Department of Labor (DOL) released its final changes to regulations governing overtime exemptions under the Fair Labors Standards Act (FLSA). Click here to read the DOL Overtime Rule Changes as they pertain to State & Local Government. Please don’t hesitate to contact us to discuss how these changes impact your organization Read More…
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