Tax Blog
Tips to help you prepare for tax season
State Strategies for Closing FY 2020 with a Balanced Budget
Tax Policy - State Strategies for Closing FY 2020 with a Balanced Budget Key Findings As states grapple with declining revenues and delay tax collections, policymakers must begin to think about how to close out their FY 2020 budgets consistent with balanced...
NASBA Recommends CPE Grace Period
The National Association of State Boards of Accountancy (NASBA) on Tuesday announced that it was recommending state boards of accountancy across the country extend their CPE-completion deadlines to accommodate accountants affected by COVID-19 disruptions.… Read more (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…
Employer tax credits form, employee retention credit guidance posted
IRS Tax News - Employer tax credits form, employee retention credit guidance posted The IRS issued a new form and instructions for employers to use to obtain advance payments of three tax credits that were created to help businesses cope with the coronavirus...
IRS waives failure-to-deposit penalties during pandemic
IRS Tax News - IRS waives failure-to-deposit penalties during pandemic The IRS is permitting eligible employers who pay qualifying wages to retain an amount of the payroll taxes equal to the amount of qualifying wages that they paid, rather than deposit them...
Idaho, Mississippi, and Virginia are the Holdouts on July 15th Tax Deadlines
Tax Policy - Idaho, Mississippi, and Virginia are the Holdouts on July 15th Tax Deadlines As we all try to limit our exposure to the coronavirus as much as possible, delayed tax filing and payment deadlines are one less thing to worry about for now—at least in...
How Healthy is Your State’s Rainy Day Fund?
Tax Policy - How Healthy is Your State’s Rainy Day Fund? Economic cycles can have significant impacts on state revenue, but states can prepare for the inevitable downturns during good times by putting away money in a revenue stabilization fund—or rainy day...
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