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2023 Year-End Guide: Accruable Benefits

By Payroll Update Staff Year-end processing poses a number of challenges to payroll administrators, accountants, business owners, and employers of all types. Checkpoint Payroll has put together this series of articles aimed at guiding you through the trials of the year-end processing season. Many companies offer some form of accrued time off for employees to …

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Maine Extends Deadlines for Natural Disaster Victims

by Jennifer J. Troyer, Esq. Maine Revenue Services is extending deadlines to file and pay taxes for victims of several natural disasters. Qualifying natural disasters are: Alabama severe storms, Alaska flooding, California severe stores, Georgia severe storms, the Hawaii wildfire, Hurricane Idalia, Hurricane Lee, Illinois flooding, Mississippi severe storms, Typhoon Mawar, and Vermont flooding. (Maine …

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Five-Minute Tax Briefing: October 17, 2023

Item for Tuesday, October 3, 2023 Tax Relief for Louisiana Residents Affected by Seawater Intrusion: The IRS has announced tax relief for individuals and businesses affected by seawater intrusion in the following Louisiana parishes: Jefferson, Orleans, Plaquemines, and St. Bernard. These taxpayers now have until 2/15/24 to file various federal and business tax returns and make …

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IRS Shifts Focus of Compliance Enforcement from Working-Class to Wealthy Taxpayers

As part of an effort to restore fairness to the tax system in Hollywood FL and the rest of the country, the IRS has announced its plan to shift the focus of compliance enforcement efforts away from working class taxpayers to high-income earners, partnerships, large corporations, and promoters of abusive tax-schemes. The changes will be …

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IRS Releases Proposed Regulations on Prevailing Wage and Apprenticeship Requirements: 

The Treasury Department and IRS issued proposed regulations related to increased clean tax credits or deduction amounts for clean energy facilities that meet certain prevailing wage and apprenticeship (PWA) requirements enacted as part of the Inflation Reduction Act. Ensure that your auditors can assist you in properly understanding this new act. In coordination with the …

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