2022 corporation tax tax services 
xendoo
JANUARY 12, 2022
To help you with this process, we’ve put together this complete guide for filing business taxes in 2022. You can use the information and the dates we provide to form a strategic plan for preparing and filing your taxes in 2022. What Is the Business Tax Filing Deadline for 2022?
Withum
AUGUST 25, 2022
On August 24, 2022, the IRS issued Notice 2022-36 to announce broad-based penalty relief for certain failure to file penalties with respect to tax returns for taxable years 2019 and 2020 as long as they are filed by September 30, 2022. Penalties under §6699(a)(1) for form 1120-S (S corporation tax returns).
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Withum
NOVEMBER 17, 2022
2022 Tax Brackets and Rates. 2022 Long-Term Capital Gains Tax Bracket. Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Postpone income until 2023 and accelerate deductions into 2022. Tax-Advantaged Accounts.
Withum
JUNE 12, 2024
The bonus depreciation rate decreased to 80% in 2023 and will continue to decrease by 20% each year until it is zero for property placed in service after December 31, 2026. And What About the C Corporation Tax Rate? A conundrum exists when comparing the federal income tax rate for C corporations versus pass-through entities.
Withum
SEPTEMBER 2, 2022
New York City’s tax code was amended on August 31, 2022, to harmonize a number of the City’s provisions with New York State. New York City Corporate Economic Nexus. Under the factor-based nexus standard, a C corporation has nexus with New York City if it derives $1 million or more in receipts from activity in the state.
Withum
MAY 4, 2022
Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET. For context, in January 2022, New Jersey revised its PTET, resulting in it being more uniform with New York’s PTET. PTET Income Tax Addback. State and Local Tax Services.
Withum
MARCH 21, 2022
As you may recall, the 199A deduction was incorporated in the TCJA as a compromise for pass-through entities owners after significant public comment following the proposed decline of the corporate tax rate 35% to 21%. This results in over $100,000 more cash for the C corporation. Aren’t federal income taxes grand?
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