…possibly assessments for back taxes, interest and penalties. It is worth noting that BPOL is a local tax so each locality has flexibility in determining taxability in these circumstances. Wineries,…
…organizations to Richmond. Understanding the BPOL tax Many Virginia localities charge a fee or tax for operating a business within their jurisdiction. This tax, known as the BPOL tax, applies…
…and individual personal property tax, machinery and tools tax, and commercial real estate taxes, the County will waive penalties and interest on meals and hotel tax payments through August. In…
…from $10,000 to $40,000 per year, effective 2024 through 2028. Removes the state tax pass through entity tax (PTET) deduction for SSTBs. This potential disallowance of deduction will mean that…
…Whether charitable giving is part of your personal goals or part of annual tax planning, now is the time to take a fresh look at your approach. Following is an…
…by an unusual scheme that involves their own bank accounts. After stealing client data from tax professionals and filing fraudulent tax returns, the criminals use taxpayers’ real bank accounts to…
…Department is able to allow taxpayers a delay in making tax payment and filing returns. This relief applies to the excise tax payment and reporting due dates for wine, beer,…
Cryptocurrency Tax Considerations for Taxpayers With the recent bankruptcy filings of FTX and affiliated companies, cryptocurrencies have been in the news a great deal over the past several weeks. If…
…tax year (upfront tax credit is not based on system performance). This credit is generally better for smaller scale projects. 2. Production Tax Credit (PTC) The PTC is a per…
…efforts to combat tax-related identity theft this tax season and steps you can take to obtain an IP PIN. How to Protect Your Personal Tax Information for the 2022/2023 Tax…
…expect from the Virginia Department of Taxation related to the new Virginia pass-through entity tax law Presented by Kay Gotshall, CPA, Tax Senior Manager on July 14, 2022. *CPE is…
COVID-19 Business Relief: Personal Protective Equipment Sales Tax Exemption Additional legislation providing relief for Virginia taxpayers became effective on March 11, 2021. The legislation provides for a temporary sales tax…