Taxes
IRS Extends Tax Deadline in Three States to Oct. 16 for Taxpayers Impacted By Disasters
Disaster-area taxpayers in most of California and parts of Alabama and Georgia received tax filing and payment relief.
529 Plans Get a Boost with Tax-Free Rollovers to Roth IRAs
Thanks to the SECURE 2.0 Act, the 529 plan to Roth IRA rollovers will go into effect on Jan. 1, 2024.
IRS Processing Tax Returns At a Quicker Rate Than Last Year
As of Feb. 3, the IRS said it has processed more than 16.7 million tax returns—29% more than in 2022.
Hotel-Based State and Local Tax Revenues Continue Increase
Average U.S. hotel occupancy is projected to reach 63.8% in 2023 – just shy of 2019’s level of 65.9%. Staffing is expected to remain a challenge for many U.S. hotels in 2023, as the industry continues to grow its workforce back to pre-pandemic levels.
Accounting Firm FORVIS Donates $500K to United Way for Hurricane Ian Relief in Florida
The firm’s donation also will help fund other unmet needs including construction costs for people repairing and rebuilding homes and labor costs for United Way staff assisting people through the recovery process.
Avalara Launches Automated Property Tax Compliance Solution for Businesses and Accountants
For businesses, keeping up with property tax requirements like filing deadlines and payment processes can be a complex, manual, and error-prone process that leads to costly noncompliance.
Here’s Some Crazy Things Small Business Owners Would Rather Do Than Their Taxes
Many small business owners dislike tax time so much that they would rather get a mullet haircut or a root canal.
IRS and Treasury Finalize E-Filing Rules for Businesses
The final regulations reflect changes made by the Taxpayer First Act that strengthen e-filing requirements.