I hope you are doing well after Hurricane Ian. Many have not been affected, but some have been, whether it be personally, business property damage, or loss of income and the ability to conduct normal business activities. As these local, state and federal programs become available I can notify you. Please just let me know.
I know some are still struggling to get back up to full speed due to water damage in buildings, computer equipment, power and internet services, while other businesses in the construction sector will have multiple opportunities to assist with rebuilding the damage. Regardless, please know I am here to help in whatever way I possibly can.
First, On September 29th, The IRS announced that those live in and/or operate a business in Florida will have some extra time to file their tax returns this year.
This is applicable to you if you had a valid extension filed for your return. Your return would have been due on October 17 but will now be due by February 15, 2023. If you did not have an extension for your return, your return is already late and this extended due date does not apply to you. I also want to note, that payments related to any of these extended returns was due on April 18 and this extension would not have any effect on penalties associated with late payment.
This deadline applies to the following:
• extended individual 1040 returns and business returns originally extended to October 17
• quarterly estimated tax payments, normally due January 17, 2023
• quarterly payroll and excise tax returns normally due October 31, 2022 and January 31, 2023
So, if you need the extra time because you are dealing with more pressing matters of cleanup and repair of your home or business, by all means, take the time. HOWEVER, if you don't need the time and are capable of getting your return prepared now, PLEASE DON'T WAIT. The IRS remains extremely backlogged and there are substantial delays in processing of returns. If you wait until February, your return is very likely to end up further buried in the backlog due to the 2022 filing deadlines coming up very soon after in March and April.
Also, the SBA has opened up Disaster Related Funds for both personal and business related property damages AND economic losses.
Here is the link to the SBA Hurricane Ian Disaster Loan website to get more information.
Here is the link to the IRS announcement if you'd like to read further. As always, if you have questions or need any assistance, feel free to schedule an appointment or reach out to my office.
I will be available to assist in any of these applications at your request.
I hope you and your family are safe and sound from the storm. My thoughts are certainly with those who were less fortunate and I hope you're able to recover quickly. #HurricaneIan #IRSTaxTip #seminolecountyfl #orangecountyflorida
IRS announces tax relief for victims of Hurricane Ian in Florida | Internal Revenue Service
www.irs.gov
FL-2022-19, September 29, 2022 — Victims of Hurricane Ian that began September 23 in Florida now have until February 15, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.Gorgeous & a great investment opportunity!!!!!Move In Ready — Multi Family / Investment Prop.
Each Floor is approx. 1800 sf—total building 3600 sf
Granite Counter Tops
Glass Top Confectioner Oven
3 Bedrooms and 2 Baths on each floor
Large Family / Dining Room combo
Beautiful Laminate Flooring
Inside Laundry Room — with Washer and Dryer
Can Lighting and Hanging Lighting
Ceiling Fans throughout
Septic System installed 2017
4 ton ac units—2022
Metal Roof—original
Hot water heaters—2022
New Water / Well Pump—2022
Exterior Porch—newly painted and new screen — still to come
Irrigation system 2022 — still to come
Sod and Landscaping — still to come
Residents in these 13 states could pay taxes on their student loan relief
Residents in these 13 states could pay taxes on their student loan relief
news.yahoo.com
Residents of 13 states who receive debt forgiveness from the federal government for their student loans may need to pay some state taxes on their forgiven amount, according to an analysis by the think tank Tax Foundation. Jared Walczak, the vice president of state projects for the Center for State T...Thank you to another one of our amazing silver business sponsors, Tina Allen,EA,Accountant Accounting Angel LLC We are so very grateful for your support and sponsorship!
What parents need to know after 6 months of child tax credit payments
abcn.ws
Eligible parents will receive a letter from the IRS to use in filing their taxes.
