The IRS announced a three-month tax filing and payment extension to Boston-area taxpayers and others affected by the explosions at the Boston Marathon. As a result, no filing and payment penalties will be due as long as returns are filed and payments are made by July 15, 2013. This [...]
Filing deadline extension - Business entities must certify tax status by April 12 to be listed in Corporations Book. The DOR is extending the deadline for business entities to certify their tax status through an online application on WebFile for Business, entitled Annual Certification of Entity Tax Status, until close [...]
Estimated Tax Responsibilities and Avoiding Underpayment Penalties: Below, we have included some helpful information relative to your estimated tax responsibilities and how to avoid underpayment penalties. The IRS assesses penalties for underpayment of income tax. If you did not pay enough tax throughout the year, either through withholding or [...]
RESIDENTIAL ENERGY CREDIT - 2012 The American Taxpayer Relief Act of 2012 (2012 Taxpayer Relief Act) provides benefits to homeowners like you by extending the Credit for Nonbusiness Energy Property (CNEP) for 2012 and 2013. The 2012 Taxpayer Relief Act does not modify the general requirements for the [...]
Dear Client: We are highlighting some of the business provisions included in the 2012 American Taxpayer Relief Act which was put in place on January 1, 2013. The new law includes some valuable business tax incentives. Many of these business tax incentives are temporary so taxpayers have a limited window [...]
American Taxpayer Relief Act of 2012 The Senate and House of Representatives passed the American Taxpayer Relief Act of 2012 (the “Act”) on January 1, 2013. The bill is heading for the President’s desk today for signature. The Act addresses a partial resolution to the “fiscal cliff” matter primarily [...]
The medical device excise tax ("the tax") was included in the Affordable Care Act signed into law in 2010. The tax equals 2.3% of the price paid for certain medical devices sold by any manufacturer, producer, or importer and applies to sales after December 31, 2012. On June 7, [...]
Overview Starting in 2013, if your Adjusted Gross Income (AGI) is over $200,000 as a single taxpayer or $250,000 as a married taxpayer filing jointly, the following new Medicare taxes may impact your 2013 tax liability: 0.9% on wages and self-employment income 3.8% on the lesser of your "net [...]
Waltham, MA – September 2012 – Newburg & Company, LLP is pleased to announce that it will be participating in the 2012 Greater Boston Walk Now for Autism Speaks on Sunday, September 28th. The Newburg Team is raising funds to help fight Autism, the disorder that now effects 1 [...]
Assuming there will be no Congressional intervention, significant tax changes may be on the horizon for 2013. Tax cuts originally enacted in 2001 and 2003 by President Bush were scheduled to expire in 2011. However, in 2010 President Obama temporarily extended the tax cuts through 2012. If Congress does [...]
