Congress mulls bill to provide tax relief after natural disasters
The spring tornado season is here, and in some places in the country, has descended with force. The months of April and May have seen more than 500 tornadoes in a 30-day period, according reports from federal government weather forecasters in The New York Times. The violent storms stretched from eastern Colorado and New Mexico […]
Disaster relief payments help employees and can save taxes
In the aftermath of Hurricanes Florence and Michael this fall, employers are asking how they can help their employees during these difficult times. One option that employers have is to make disaster relief payments to their employees. A disaster relief payment is any amount paid to or for the benefit of an individual to reimburse […]
Hurricane Michael victims have more time to file some tax returns
Taxpayers in parts of Florida and south Georgia have been given more time to file some tax returns as a result of Hurricane Michael that hit the Florida panhandle earlier in October. The IRS has announced that certain counties in Florida and Georgia designated by the Federal Emergency Management Agency (FEMA) as federal disaster areas […]
IRS gives more disaster victims time to make tax payments
Disaster victims in parts of North Carolina and South Carolina will have more time to make some tax payments in the wake of Hurricane Florence. Much of coastal North Carolina and South Carolina are still recovering from massive flooding after Hurricane Florence made landfall on Sept. 14. As a result, the IRS has announced that […]
Hurricane Florence victims in N.C. given more time to file taxes
In the aftermath of Hurricane Florence, the IRS has extended tax filing deadlines for those individuals and businesses in certain parts of North Carolina. Much of coastal North Carolina is suffering from flooding in the aftermath of the storm that made landfall on Sept. 14. Many roads remain underwater or blocked by downed trees. The […]
Prepare your business now ahead of Hurricane Florence
Millions are preparing for Hurricane Florence, which is scheduled to strike the coasts of North Carolina and South Carolina in the coming days. But what happens after the storm? While no one can control the path and strength of the storm, as a business owner, you can take some steps now that will make it […]
Update your emergency plan before the storm hits
As cool days give way to warmer temperatures, the environment is ripe for hurricanes, tornadoes and other strong storms. While there’s not much that can be done to prevent natural disasters from occurring, business owners can take steps ahead of time to create or update their emergency plans and protect their most valuable documents and […]
Tax relief offered for employers affected by recent hurricanes
Many lives and businesses were disrupted this fall with several significant hurricanes that tore through the Southeast. In response, the IRS is giving those in areas impacted by the storms extra time to file tax returns. But employers are also given another hand up with a new federal tax credit for eligible employees who were […]
Tax deadline extended for victims of Hurricanes Harvey and Irma
Back-to-back hurricanes in the last few weeks have left much of the Southeast and Texas devastated, but the IRS is giving victims of these storms extra time to file tax returns. Taxpayers in those areas affected by Hurricanes Harvey and Irma that have been declared federal disaster areas are eligible for the extension of time. Taxpayers […]
Tax deductions can be silver lining behind storm clouds
The Southeast was plagued in 2016 and at the beginning of 2017 with natural disasters that resulted in the loss of business and property. Hurricane Matthew struck the East Coast in early October, impacting the coasts of Florida, Georgia, South Carolina and North Carolina. Throughout November, wildfires raged in North Carolina and in north Georgia. […]