Reading Time: 2 minutes Although the tax extension of the federal income tax filing and other tax deadlines for individuals has been extended to May 17, 2021, The Internal Revenue Service (IRS) wants to remind U.S. citizens, resident aliens, and any domestic legal...
Reading Time: 2 minutes Report of Foreign Bank and Financial Accounts (FBAR) Many individual and business taxpayers are often surprised to learn they are required to report certain financial account holdings held outside the U.S. Citizens, residents, expatriates,...
Reading Time: 4 minutes The original U.S. tax deadline (before extensions) for individuals has been historically set in stone as April 15th. If that day is over the weekend, it gets pushed to the next business day. As a reminder, the filing deadline is typically the...
Reading Time: 3 minutes As our economy becomes more global, even for smaller companies, it is quite possible that a business owner may find it necessary to send certain employees on long-term assignments to perform work. Sometimes these assignments are permanent or...
Reading Time: 3 minutes Updated 11/06/20 COVID-19 is changing our daily lives in terms of medical safety and how we conduct business. At Calvetti Ferguson, many of our clients have reached out with questions about their businesses, since after all, businesses pay...
Reading Time: 3 minutes COVID-19 Tax Planning Update We are hearing this question more and more now that the CARES Act has passed—are there other tax planning items to examine to minimize the amount of paperwork? Section 163(j) received a major overhaul with the 2017...
Reading Time: 3 minutes One of the questions we are getting from clients is “If my business has had some recent losses, but we also think we may be eligible for the research and development credit, how does the CARES allow us to maximize the cash tax refunds?” The...
