The international tax system is undergoing the most important changes to be undertaken in a century.
Social Security Board of Trustees: Combined Trust Funds Projected Depletion One Year Sooner Than Last Year
Today [August 31, 2021], the Social Security Board of Trustees released its annual report on the long-term financial status of the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds. The combined trust funds are projected to become depleted in 2034, with 78% of benefits payable at that time. The DI Trust Fund …
South Carolina Again Extends Nexus, Withholding Relief
The South Carolina Department of Revenue has announced another extension of temporary nexus and income tax withholding requirements for employers with workers who are teleworking because of the COVID-19 pandemic.Information Letter 21-22, dated August 25, extends the temporary relief — initially provided in May 2020 via Information Letter 20-11 — through December 31.Under South Carolina law, businesses …
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Tax Filing 2020 News You Need to Know!
.QUOTE (Compliments of NAEA) "Tell me and I forget. Show me and I may remember. Involve me and I learn." — Benjamin Franklin (1707 - 1790) Founding Father of the United States.
The IRS Extends Deadline to Ensure People with Children Receive $500 Economic Impact Payments
The IRS has extended its deadline to September 30, 2020, for people to provide information to the IRS using its Non-Filer Tool at www.irs.gov/coronavirus/non-filers-enter-payment-info-here. People should do this if they: receive Social Security retirement, survivors, or disability benefits, or Supplemental Security Income (SSI) payments;did not file a 2019 or 2018 tax return;have a qualifying child under …
File by July 15 tax deadline
It's July? Already? Wednesday, July 15th is still standing as the final day to file taxes without an extension. There had been rumors about another extension of the tax season, but that was put to rest on Tuesday when the Treasury Department said July 15 was final. That means that on July 16th, penalties and interest will …
Treasury, IRS launch new tool to help non-filers register for Economic Impact Payments
The IRS reminds taxpayers that Economic Impact Payments will be distributed automatically to most people starting next week. Eligible taxpayers who filed tax returns for 2019 or 2018 will receive the payments automatically. Automatic payments will also go in the near future to those receiving Social Security retirement or disability benefits and Railroad Retirement benefits.
Filing Deadline Extended to July 15
This morning, U.S. Treasury Secretary Steven Mnuchin announced via Twitter: "At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties." We expect the IRS will issue official guidance today or Monday, officially extending …
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$50 SOUTH CAROLINA REBATE
Earlier this year, South Carolina lawmakers determined $61 million of the tax dollars generated by the 2018 Mega Millions winner would be used to fund $50 tax rebate checks for qualifying taxpayers. A rebate check may be on its way to your mailbox! Follow this link to learn if you qualify! >>
C Fitts Tax Solutions, LLC 
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