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IRS Provides Tax Relief to Rhode Island Storm Victims

CPA Practice

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted federal tax relief for taxpayers impacted by severe storms in parts of Rhode Island. The relief includes extensions for various tax payment and filing deadlines. 2023 quarterly estimated income tax payments normally due on Jan.

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IRS Tax Relief for Taxpayers Impacted by Severe Storms in Rhode Island

Withum

The taxpayers eligible for relief under this information release now will have until June 17, 2024, to file various federal individual and business tax returns and to make tax payments. Please note that, as of this time, Rhode Island has not provided an extension of time to file the state income tax returns.

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Florida Fisherman Pleads Guilty to Evading $400K in Taxes

CPA Practice

According to court documents and statements made in court, Christopher Garraty, of New Port Richey, and formerly of Newport and East Greenwich, Rhode Island, worked as a commercial fisherman and deckhand for fishing companies operating out of New Bedford, Massachusetts.

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The Most Complex States for Personal Property Tax Compliance

CPA Practice

This blog post sheds light on what makes personal property tax compliance in certain states particularly tricky. The personal property tax forms and procedures conundrum Filing property tax returns is the first hurdle your company must overcome if you do business in any of the 37 states that tax tangible personal property.

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IRS Says State Issued Stimulus Payments are Not Taxable

CPA Practice

The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns. Other payments Other payments that may have been made by states are generally includable in income for federal income tax purposes.

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State Legislative Update: Tax Relief Opportunities and New Tax Obligations Enacted in 2022

ThomsonReuters

The tax credit is referred to as a “relief rebate.” ” To receive the tax credit, a person must have been a resident individual for the 2020 tax year, must have timely filed a Delaware resident personal income tax return, and must be living as of the date the credit is issued.

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Refunds and your sales tax compliance

TaxConnex

Have you already filed your sales tax return based on the original amount of sales tax charged? General rules, specific states Almost all the states (and the District of Columbia) that impose a sales tax generally allow retailers to deduct or exclude sales tax refunds for returned goods from taxable sales.

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