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IRS Provides Tax Relief to Victims of Hurricane Isaac; Return filing and Tax Payment Deadline Extended to Jan. 11, 2013

By |2012-09-05T16:07:27-04:00September 5th, 2012|Corporate Income Tax, Individual Income Tax|

source: IRS.gov Podcast Disaster Assistance: English | Spanish WASHINGTON –– The Internal Revenue Service is providing tax relief to individuals and businesses affected by Hurricane Isaac. Following recent disaster declarations for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in Louisiana and [...]

IRS Issues Rules for Providing K-1s Electronically

By |2012-02-20T15:40:27-05:00February 20th, 2012|Corporate Income Tax, Forms, Individual Income Tax|

Source: IRS.gov WASHINGTON — The IRS today issued guidance that now allows partnerships to provide Schedule K-1, Partner’s Share of Current Year Income, Deductions, Credits, and Other Items electronically to recipients. Certain entities, such as partnerships, are required annually to file K-1s with the IRS and provide a copy to [...]

2011 Changes Offer Tax Benefits to Almost Everyone; Special Tax Payment and Reporting Requirements Apply to Many

By |2012-01-07T15:54:27-05:00January 7th, 2012|Corporate Income Tax, Individual Income Tax|

Source: http://www.irs.gov/newsroom/article/0,,id=251837,00.html FS-2012-01, January 2012 Two Extra Days to File and Pay Taxpayers across the nation will have until Tuesday, April 17, 2012, to file their 2011 income tax returns and pay any taxes due. Taxpayers have extra time because April 15 falls on Sunday, and Emancipation Day, a holiday [...]

IRS Expands and Makes Permanent Its Compliance Assurance Process (CAP) for Large Corporate Taxpayers

By |2011-04-19T02:03:55-04:00April 19th, 2011|Corporate Income Tax|

Source: IRS.gov WASHINGTON — Internal Revenue Service officials announced today that the six-year-old Compliance Assurance Process (CAP) pilot program for large corporate taxpayers is being expanded and made permanent. “This marks another important step in our evolving relationship with corporate taxpayers,” said IRS Commissioner Doug Shulman. “Through greater cooperation and [...]

IRS Expands Use of Electronic Payments, Discontinues Paper Coupons

By |2010-08-23T12:58:49-04:00August 23rd, 2010|Corporate Income Tax, Individual Income Tax, Tax Payments|

Source: Journal of Accountancy, AICPA August 21, 2010 The IRS has issued proposed regulations that would eliminate paper coupons for deposits of employment taxes, corporate income and estimated taxes, and many other taxes (REG-153340-09). The paper coupon payment system will be shut down at the end of this year. With [...]