Vision Payroll

April 30, 2011

AL Taxpayers Receive Extension of Time to File Returns and Pay Taxes

Filed under: News — Tags: , , , — Vision @ 5:46 pm
AL Taxpayers Receive Extension of Time to File Returns and Pay Taxes
AL Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by the severe storms, tornadoes, straight-line winds, and flooding, in Alabama on April 15, 2011, President Barack Obama declared the following counties a federal disaster area: Autauga, Bibb, Blount, Calhoun, Chambers, Cherokee, Chilton, Choctaw, Clarke, Colbert, Coosa, Cullman, DeKalb, Elmore, Escambia, Etowah, Fayette, Franklin, Greene, Hale, Jackson, Jefferson, Lamar, Lauderdale, Lawrence, Limestone, Madison, Marengo, Marion, Marshall, Monroe, Morgan, Perry, Pickens, Shelby, St. Clair, Sumter, Talladega, Tallapoosa, Tuscaloosa, Walker, Washington and Winston.

Declaration Leads to Extension of Payroll Tax and Other Deadlines

Therefore, the Internal Revenue Service (IRS) announced recently that it will waive failure to deposit penalties for employment and excise taxes due after April 14, 2011 and before May 3, 2011 as long as the deposits were made by May 2, 2011. In addition, affected taxpayers have until June 30, 2011 to file most tax returns.

Vision Payroll is Here to Help Affected Taxpayers with Payroll Tax Issues

Contact Vision Payroll if you were affected by the severe storms, flooding, straight-line winds, and flooding and need further information on the relief provided by the IRS.

June 29, 2010

IRS To Help BP Oil Spill-Impacted Taxpayers

In IR-2010-078, the Internal Revenue Service (IRS) released guidance based on current law that explains how the government can help BP oil spill-impacted taxpayers.

“This is a very difficult time for many people affected by the oil spill in the Gulf of Mexico. As residents of the region cope with the evolving situation, I want to assure them that the IRS will be doing everything it can to provide tax help to those who need it,” IRS Commissioner Doug Shulman said. “We encourage anyone who has an issue with the IRS to contact us and explain their hardship, and we will work with them to find a solution. We’ll do everything we can under current law to help taxpayers.”

In the guidance, the IRS explains that generally payments received from BP for lost income should be treated “in the same way that the wages or business income these payments are replacing would have been.” There are new sections on the IRS website including Gulf Oil Spill Information Center and Gulf Oil Spill: Question and Answers. The IRS will also hold Gulf Coast Assistance Day on July 17. IRS employees will be available to meet with taxpayers and their representatives in Mobile, Alabama, Panama City, Florida, Pensacola, Florida, New Orleans, Louisiana, Houma, Louisiana, Baton Rouge, Louisiana, and Gulfport, Mississippi.

Further information will be available in the coming days and weeks so be sure to visit Vision Payroll for updated information.

June 27, 2010

IRS Provides Relief to Plan Sponsors in States Impacted by Storms

In Notice 2010-48, the Internal Revenue Service (IRS) provided administrative “relief to sponsors of defined contribution pre-approved plans (i.e., master and prototype (‘M&P’) and volume submitter (‘VS’) plans).” Notice 2010-48 extended the following from April 30, 2010 to July 30, 2010:

  • Deadline for restating affected pre-approved defined contribution plans,
  • Deadline for submitting determination letters to the Service, and
  • The § 401(b) remedial amendment period with respect to these plans.

The notice lists how a plan is considered in an affected area and lists the eight affected areas, all of which received previous relief from the IRS. The areas are the following:

  1. Connecticut
  2. Tennessee
  3. Alabama
  4. Mississippi
  5. New Jersey
  6. Massachusetts
  7. Rhode Island
  8. West Virginia

Contact Vision Payroll for further information on Notice 2010-48.

May 10, 2010

AL Taxpayers Receive Extension of Time to File Returns and Pay Taxes

Filed under: News — Tags: , , — Vision @ 11:23 am

Due to the severe storms, tornadoes, straight-line winds, and flooding in Alabama beginning April 24, 2010, President Barack Obama declared the following counties a federal disaster area: DeKalb, Marshall and Walker. Therefore, the Internal Revenue Service (IRS) announced recently that it will waive failure to deposit penalties for employment and excise taxes due after April 23, 2010 and before May 11, 2010 as long as the deposits are made by May 10, 2010. In addition, affected taxpayers will have until June 23, 2010 to file most tax returns. Contact Vision Payroll if you were affected by the severe storms, tornadoes, straight-line winds, and flooding and need further information on the relief provided by the IRS.

May 23, 2009

AL Taxpayers Receive Extension of Time to File Returns and Pay Taxes

Filed under: News — Tags: , , — Vision @ 7:07 pm

Due to severe storms, flooding, and tornadoes in Alabama on March 25, 2009, President Barack Obama declared the following counties a federal disaster area: Covington, Geneva and Houston. Therefore, the Internal Revenue Service (IRS) announced recently that it will waive failure to deposit penalties for employment and excise taxes due after March 24, 2009 and before April 10, 2009 as long as the deposits were made by April 9, 2009. Also, affected taxpayers will have until May 26, 2009 to file most tax returns. Contact Vision Payroll if you were affected by the storms, flooding, and tornadoes and need further information on the relief provided by the IRS.

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