Although the IRS has extended the individual tax return due date for taxpayers who live in South Carolina (as well as Florida and North Carolina), our clients who live in South Carolina should take note. South Carolina has announced that it will honor this extension. That's the good news. The bad news is that [...]
You may have read that the IRS this year has extended the traditional April 15 individual tax deadline to May 17. This extension applies to both the filing due date and the due date to pay any taxes due with the return. However, the IRS has NOT extended the due date for making first [...]
Update: We have added additional blogs on key topics: FAQ re Coronavirus Stimulus Checks FAQ re Coronavirus Loans for Small Businesses Retirement Provisions of the Coronavirus Relief Bill We hope that you and your family are safe and healthy. As economic losses continue from the coronavirus pandemic, South Carolina and the federal government have [...]
December 10 Employees who work for tips - If you received $20 or more in tips during November, report them to your employer. You can use Form 4070. December 16 Corporations - Deposit the fourth installment of estimated income tax for 2019. A worksheet, Form 1120-W, is available to help you estimate your tax [...]
Anytime Employers - Income Tax Withholding. Ask employees whose withholding allowances will be different in 2020 to fill out a new Form W-4. The 2020 revision of Form W-4 will be available on the IRS website by mid-December. November 12 Employees who work for tips - If you received $20 or more in tips [...]
October 10 Employees who work for tips - If you received $20 or more in tips during September, report them to your employer. You can use Form 4070. October 15 Individuals - If you have an automatic 6-month extension to file your income tax return for 2018, file Form 1040 and pay any tax, [...]
Time is running short for taxpayers who requested an extra six months to file their 2018 tax return. As a reminder, Tuesday, October 15, 2019, is the extension deadline for most taxpayers. For taxpayers who have not yet filed, here are a few tips to keep in mind about the extension deadline and taxes: [...]
September 10 Employees Who Work for Tips - If you received $20 or more in tips during August, report them to your employer. You can use Form 4070. September 16 Individuals - Make a payment of your 2019 estimated tax if you are not paying your income tax for the year through withholding (or [...]
August 12 Employees Who Work for Tips - If you received $20 or more in tips during July, report them to your employer. You can use Form 4070. Employers - Social Security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2019. This due date applies only if you deposited [...]
July 10 Employees Who Work for Tips - If you received $20 or more in tips during June, report them to your employer. You can use Form 4070. July 15 Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in June. Employers - Social Security, Medicare, and withheld [...]
