FICPA News
R&D credit claim transition period extended
Taxpayers now have until Jan. 10, 2024, to supply missing information within 45 days of submitting a Sec. 41 research and development credit refund claim under new requirements.
journalofaccountancy.com
IRS News
IRS: Hurricane Ian victims in the Carolinas qualify for tax relief; Oct. 17 deadline, other dates extended to Feb. 15 | Internal Revenue Service
Hurricane Ian victims throughout both North Carolina and South Carolina now have until February 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today. This is similar to relief announced last week for Ian victims in Florida.
irs.gov
Tax News
How to Fill Out Form for Illinois Income and Property Tax Rebates as Deadline Approaches
As part of the Illinois Family Relief Plan that was approved in April, roughly six million Illinois residents are eligible for income tax and property tax rebates, although time is running out to fill a form to find out if you’re eligible.
nbcchicago.com
Media magnate Jann Wenner said America's richest people should pay a minimum tax rate of 50%, and that rates for the super wealthy should 'escalate up' from up there
Appearing on the Joe Rogan Experience podcast, the cofounder of Rolling Stone said people who earn $20,000 a year should not pay tax.
businessinsider.com
Here's how uber-rich pass wealth to heirs tax-free when markets are down
Wealthy people like Michael Bloomberg and Mark Zuckerberg have used grantor-retained annuity trusts. The trusts have better odds of success in down markets.
cnbc.com
Pressure was lifted from sterling as the UK government announced a U-turn on its tax plans that had sent the pound to new lows. Here's what to know.
Following a week of chaos sparked by the UK government's mini budget, the pound got some relief yesterday, climbing off of recent lows against the dollar.
businessinsider.com
From The Desk of Keith L. Jones, CPA
1 Way To Filé An IRS Offer In Compromise To Get Tax Relief
An Offer In Compromise provides tax relief by settling back taxes for less than is owed. The Offer in compromise pre-qualifier allows you to see if you qualify.
keithjonescpa.com