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City of Richmond and Surrounding Localities Provide Tax Amnesty Programs in Response to COVID-19

…2020 Tax Year real estate taxes by June 30, 2020, in order to receive the tax credit. Local Meals, Admissions, and Lodging Taxes Pursuant to Ordinance 2020-096, the City Council…

What Individuals Need to Know About H.R.1 (OBBBA)

…of those losses, and losses will be deductible only to the extent of the taxpayer’s gains from wagering transactions during the tax year. Charitable contributions and estate planning Tax benefits…

Nonprofit Parking Tax Repealed: Impact on Tax Exempt Organizations

…Additional Tax Resources Tax Extenders Deal Renewing Expired Tax Breaks Through 2020 Approved IRS Leans on Technology for Discovering Non-Compliance Not-for-Profit Board Review of Form 990 2019/2020 Tax Planning Guide…

Key Tax Credits Every Business Should Know About

2025 tax filing guidance As the new tax season approaches, businesses must stay informed about the tax credits available to them. Tax credits directly reduce your tax liability, potentially leading…

Life Insurance Policies: Planning Options If You No Longer Need Coverage

…insurance policy. Let’s review some of the tax issues associated with a sale or surrender of a life insurance policy. Investment in the life insurance contract (tax basis) Taxation of…

Leveraging Tax Advantages of Employing Your Child

…partnership, or an estate (even if it’s the parent’s estate), then payments for your child’s services are subject to income tax withholding, Social Security taxes, Medicare taxes, and FUTA taxes…

Position Opening: Tax Manager – State and Local Tax

…primary resource in a wide range of multistate sales and use tax matters, including FAS 5, reverse audits, tax planning, consulting, compliance, automation, mergers and acquisitions, controversy, and audit defense….

2024 Year-End Reminders and Tax Filing Deadlines

…941, Employer’s QUARTERLY Federal Tax Return (or Form 944, Employer’s ANNUAL Federal Tax Return) Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return Form VA-6, Employer’s Annual or Final Summary…

Remote Sales Tax Collection After the Wayfair Decision

…a member of the State and Local Tax team or Email | 804.747.0000 Source: VSCPA Disclosures Magazine Additional Sales and Use Tax Resources: Terry Barrett Talks Online Sales Tax Decision…

Working Remotely: Possible Income Tax Withholding Implications

…tax withholding and tax filing requirement in that other state? Remote Work State Withholding Requirements Pre and Post COVID-19 As the states have extended 2019 tax filing due dates, addressed…

Tax Implications of Your Business Structure

…taxes, and distributes profits to shareholders. C Corporations are subject to both corporate-level taxation and tax on dividends to shareholders. While recent tax reforms have made this classification more attractive…

IRS New Tax Pro Account Could Help Taxpayers

…Account and the tax professional’s Tax Pro Account. Tax professionals may then go to e-Services Transcript Delivery Service to see the taxpayer’s records. Additional IRS Tax Pro Account Features There…

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