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US IRS Flags Deadline For Q2 Estimated Tax Payments

US IRS Flags Deadline For Q2 Estimated Tax Payments
US IRS Flags Deadline For Q2 Estimated Tax Payments
by Mike Godfrey, Tax-News.com, Washington
09 June 2021
The US Internal Revenue Service has issued a reminder to taxpayers who pay estimated taxes that they have until June 15 to pay their estimated tax payment for the second quarter of tax year 2021 without incurring a penalty.
Estimated tax is the method used to pay tax on income that isn't subject to withholding, including income from self-employment, interest, dividends, rent, gains from the sale of assets, prizes, and awards. Taxpayers may also have to pay estimated tax if the amount of income tax withheld from a salary, pension, or from other income isn't sufficient.

Washington , United-states , Mike-godfrey , Us-internal-revenue-service , Revenue-service , Tax , Ews , Ffshore , Ax-news , E-commerce , Egal , Aw

Mexico Enacts Outsourcing Tax Law Changes

Mexico Enacts Outsourcing Tax Law Changes
Mexico Enacts Outsourcing Tax Law Changes
by Mike Godfrey, Tax-News.com, Washington
09 June 2021
Mexico has recently enacted legislative amendments to various tax laws in a bid to restrict the ability of companies to enter into outsourcing arrangements.
The changes are intended to prevent companies from circumventing obligations that would apply to them if they engaged their workforce directly, not only in relation to income tax and social security contributions but also the obligation to pay employees a share of company profits. The new law caps such shares of profits at the greater of either: three months' salary, or the average amount of such payments in the past three years.

Mexico , Washington , United-states , Mike-godfrey , Mexico-enacts-outsourcing-tax-law , Tax , Ews , Ffshore , Ax-news , E-commerce , Egal

Town council hears about Shepherdstown Remote Worker Program, CATF events | News, Sports, Jobs

Town council hears about Shepherdstown Remote Worker Program, CATF events | News, Sports, Jobs
shepherdstownchronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from shepherdstownchronicle.com Daily Mail and Mail on Sunday newspapers.

United-states , Shepherdstown , West-virginia , Shepherd-university , Morgantown , American , Peggy-mckowen , Mike-godfrey , Reynolds-hall , Margaret-alcott , John-bresland , Keith-alexander

US IRS Reminds Of FBAR Filing Obligation

US IRS Reminds Of FBAR Filing Obligation
US IRS Reminds Of FBAR Filing Obligation
by Mike Godfrey, Tax-News.com, Washington
15 April 2021
The Internal Revenue Service is reminding US citizens, resident aliens, and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is still April 15, 2021.
The extension of the federal income tax filing due date and other tax deadlines for individuals to May 17, 2021, does not affect the FBAR requirement. However, filers missing the April 15 deadline will receive an automatic extension until October 15, 2021, to file the FBAR.
The Bank Secrecy Act requires US persons to file a FBAR if they have:

United-states , Washington , Mike-godfrey , Revenue-service , Foreign-bank , Bank-secrecy , Financial-crimes-enforcement-network-fin , Internal-revenue-service , Financial-accounts , Bank-secrecy-act , Financial-crimes-enforcement-network , Tax

US Tax Season Begins

US Tax Season Begins
22 February 2021
The Internal Revenue Service launched tax season for individuals on February 15, 2021, highlighting the various supports available for taxpayers when preparing their returns.
Taxpayers have until Thursday, April 15, 2021, to file their 2020 tax return and pay any tax owed. The IRS expects to receive more than 160 million individual tax returns this year, with nine out of 10 returns filed electronically.
Taxpayers can securely access their IRS account information through their individual online account, which includes a number of new features.
For example, people can now check the amounts of their Economic Impact Payments (EIPs) to help them accurately calculate any Recovery Rebate Credit they may be eligible for on their 2020 tax return.

Washington , United-states , Mike-godfrey , Revenue-service , Internal-revenue-service , Economic-impact-payments , Recovery-rebate-credit , Online-payment-agreement , Tax , News , Offshore , Tax-news

Beings of Oregon: McKenzie River's Margaret Godfrey rediscovering art after Holiday Farm wildfire

Register-Guard
On Sept. 8, Margaret Godfrey, 71, and her husband, Mike Godfrey, were enjoying a beautiful day at their home east of Blue River, Oregon.
They had just returned from a camping trip. He busied himself with stowing their camping gear, and she picked the last of the cherry tomatoes in the garden.
That evening, they were forced to flee as the Holiday Farm Fire swept down the valley and overran their property. Left behind in the chaos were their home, most of their belongings, two horses, two of three cats and a barn full of Margaret’s artwork.
The couple moved to the area in 1986, raised two daughters and worked on upgrading the house over the years. Along the way they added space inside an old pole barn on the property as a studio for Godfrey to do her artwork.

Mckenzie-river , Oregon , United-states , Blue-river , Mike-godfrey , Margaret-godfrey , Mckenzie-high-community-college , Holiday-farm-fire , Mckenzie-high-school , Lane-community , Upper-mckenzie-rural-fire-district

These were the 10 most-read KSL.com articles of 2020

The COVID-19 pandemic and its effects on Utahns dominated the news this year. While it was five days after Gov. Gary Herbert announced a state of emergency over COVID-19, Utah Jazz star Rudy Gobert's positive test on March 11 ultimately signaled that normalcy as we knew it would change.
Yet it was the moments outside of COVID-19 that dominated this year's most-read KSL.com stories list. It might not much of a surprise when taking into account natural disasters like earthquakes, windstorms and wildfires all hit the Beehive State over the course of 2020. There were also historic human moments, such as this summer's protests over social injustice, and plenty of political moments.

Minnesota , United-states , Salt-lake-city , Utah , Salt-lake , Mike-godfrey , Carter-williams , Gary-herbert , Kyle-burgess , Utah-jazz , Rudy-gobert , George-floyd

Alabama Power coal ash cleanup estimate grows to $3.3 billion

Alabama Power coal ash cleanup estimate grows to $3.3 billion
Updated Dec 16, 2020;
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Alabama Power expects to spend $3.3 billion over the next several years to close its coal ash ponds, a growing expense that already led to higher utility bills across the state.
Last year Alabama Power estimated those cleanup costs to be around $2.8 billion, but the company’s assistant comptroller, Wendy Hoomes, told state regulators last week during a public hearing that the new estimate is $3.3 billion.
Last year, Alabama Power increased customer rates by about 3%, citing coal ash clean-up costs as a driving factor. Next year’s 2 percent increase, which takes effect in January, is not tied to coal ash or environmental compliance costs, but other infrastructure costs.

Mobile-county , Alabama , United-states , Greene-county , Shelby-county , Walker-county , Jefferson-county , Etowah-county , Wendy-hoomes , Mike-godfrey , Us-environmental-protection-agency , Alabama-department-of-environmental-management

Let's Go! The New CityPlace Burlington will Benefit Everyone

The planned corner of Bank and St. Paul streets
For years, Burlington residents have been pushing the city to make progress on two important goals: improved walkability, which will reduce its carbon footprint; and a healthy mix of locally owned businesses, to serve not just tourists but the people who actually live downtown.
The new CityPlace Burlington project "has the potential to solve both problems," according to University of Vermont economics professor Jane Knodell, a former Burlington city councilor.
In the decades she served the city, Knodell says she heard from many Burlingtonians who wanted to see more stores selling "the daily essentials of life." And she listened to shop owners complain about sporadic foot traffic — heavy in the summer and fall, and on snowy winter weekends, but too light the rest of the time.

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UK, Canada Sign Post Brexit Continuity Agreement

UK, Canada Sign Post Brexit Continuity Agreement
UK, Canada Sign Post Brexit Continuity Agreement
by Mike Godfrey, Tax-News.com, Washington
10 December 2020
Canada and the UK have formally signed a post-Brexit trade continuity agreement that will apply from January 1, 2021.
The UK-EU Brexit transition period ends on December 31, 2020. The Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada will no longer apply to the UK as of January 1, 2021.
A Trade Continuity Agreement (TCA) between the UK and Canada was agreed in principle on November 21, 2020, and was signed on December 9, 2020. The TCA aims to preserve the main benefits of CETA.
In the case of Canada, this will ensure the continued elimination of tariffs on 98 percent of products exported to the UK. The UK will benefit from tariff-free trade on 98 percent of goods that can be exported to Canada. In addition, tariffs will be eliminated on UK car exports to Canada.

Canada , United-kingdom , Washington , United-states , Canadian , Mike-godfrey , Canada-sign-post-brexit-continuity , Comprehensive-economic , Trade-agreement , Trade-continuity-agreement , Canadian-government