Monthly Archives: January 2014
This article discusses Tax Notifications and Updates for 2014: Postponement of Filing Date Taxpayers are still feeling the effects of the federal government shutdown which lasted for 16 days in October. According to the IRS, January 31st is the earliest date that the agency will begin processing individual tax returns, a postponement that was necessary in order to complete all the system updates which were affected by the shutdown. Taxpayers can still submit their returns electronically as soon as they are ready and the e-filer will hold them until processing begins. However, the IRS encourages anyone who … Click to Read More
It seems that unemployment benefits may be set to expire. When Congress passed a budget deal last week, they failed to extend the program that provides federal unemployment benefits to the long term unemployed. As a result, unemployment benefits for anyone depending on federal unemployment assistance will stop this week. Federal benefits normally start when state benefits run out and can extend the overall benefit period by almost a year. Although the federal benefit checks are usually less than the state checks, they have provided extended relief to many who have not been able to find employment during the … Click to Read More
Wishing you a Happy New Year from Business Tax Preparation!