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Keeping Pace With Corporate Income Tax Filing Season

ThomsonReuters

As the effects of the pandemic continue to reverberate through the economy, resource-constrained corporate tax departments are unceasingly adapting to change — including new regulatory requirements, new ways of working, extended tax deadlines, Covid tax relief provisions and, now, the demands of a busy tax-filing season.

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What New York-Based Tech Companies Should Know About QETC Filings

Shay CPA

Specifically, if you can get certified as a qualified emerging tech company (QETC), you and your investors can claim some meaningful credits to lower your tax liability. Plus, your company will qualify for a lower corporate tax rate on your New York State taxes. So, does your startup count as a QETC? Let’s dig in.

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Nebraska State Tax Updates

Withum

For the latest news and updates on Nebraska state and local tax. Nebraska Implements Corporate Income Tax Rate Reductions. 873 which reduces Nebraska’s corporate income tax rate over the next five years. April 3, 2020. However, the extension does not apply to estimated tax payments.

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Make Sure You Know Your IRS Tax Deadlines for Filing Your 2020 Business Taxes in 2021

inDinero Tax Tips

We’ll provide the information you need to create the appropriate 2021 business tax calendar to keep up with your tax filing responsibilities and avoid late penalties. Are you still working on your 2019 business taxes? Check out those dates in the 2019-2020 version of this calendar. sole proprietorship, S corporation).

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2021 Tax Deadlines

xendoo

S Corporation Tax Filing. for a calendar tax year). March 15 Submit Form 1120S Income Tax Return. Partnership Tax Filing. for a calendar tax year). March 15 Submit Form 1065 Income Tax Return. C Corporation Tax Filing. for a calendar tax year). Individual Tax Filing.

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Monthly State Sales and Use Tax Update

TaxConnex

Tennessee has become yet another state to beat expected tax revenues. million more than August 2020 and $267.9 The growth rate for all Tennessee taxes in August was 22.11 Sales tax revenues and state corporate tax receipts (franchise and excise taxes) both posted substantial growth. billion, $255.8

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FAQs on Tax Treatment for COVID Relief Programs

Withum

Even though the discharge of indebtedness generally is a taxable event, the CARES Act specifically states that the amount of PPP loan forgiveness that would have been taxable is excluded from gross income. The PPP loan forgiveness amount is not taxable but it will increase book income on the income statement.

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