Sentences with phrase «tax filing period»

Not exact matches

(If you're subject to both late - filing and late - payment penalties in a given month, the maximum total penalty for that period would be 5 percent of unpaid taxes.)

The amended tax returns using the new accounting method must also be filed within the six - month extension period.

This way, the RRSP holder may be able to get more of their RRSP funds right away, rather than having to wait until the next tax - filing period to submit a rebate claim.

So if you hired someone or subcontracted some work to someone sometime during the current tax year, when you were claiming their wages or fees as an expense (on Form T2125 of the T1 income tax return if your business is a sole proprietorship or a partnership), you would deduct the GST / HST if you had already claimed it as GST / HST paid out when you filed your GST / HST return for the appropriate period.

Actual results may vary materially from those expressed or implied by forward - looking statements based on a number of factors, including, without limitation: (1) risks related to the consummation of the Merger, including the risks that (a) the Merger may not be consummated within the anticipated time period, or at all, (b) the parties may fail to obtain shareholder approval of the Merger Agreement, (c) the parties may fail to secure the termination or expiration of any waiting period applicable under the HSR Act, (d) other conditions to the consummation of the Merger under the Merger Agreement may not be satisfied, (e) all or part of Arby's financing may not become available, and (f) the significant limitations on remedies contained in the Merger Agreement may limit or entirely prevent BWW from specifically enforcing Arby's obligations under the Merger Agreement or recovering damages for any breach by Arby's; (2) the effects that any termination of the Merger Agreement may have on BWW or its business, including the risks that (a) BWW's stock price may decline significantly if the Merger is not completed, (b) the Merger Agreement may be terminated in circumstances requiring BWW to pay Arby's a termination fee of $ 74 million, or (c) the circumstances of the termination, including the possible imposition of a 12 - month tail period during which the termination fee could be payable upon certain subsequent transactions, may have a chilling effect on alternatives to the Merger; (3) the effects that the announcement or pendency of the Merger may have on BWW and its business, including the risks that as a result (a) BWW's business, operating results or stock price may suffer, (b) BWW's current plans and operations may be disrupted, (c) BWW's ability to retain or recruit key employees may be adversely affected, (d) BWW's business relationships (including, customers, franchisees and suppliers) may be adversely affected, or (e) BWW's management's or employees» attention may be diverted from other important matters; (4) the effect of limitations that the Merger Agreement places on BWW's ability to operate its business, return capital to shareholders or engage in alternative transactions; (5) the nature, cost and outcome of pending and future litigation and other legal proceedings, including any such proceedings related to the Merger and instituted against BWW and others; (6) the risk that the Merger and related transactions may involve unexpected costs, liabilities or delays; (7) other economic, business, competitive, legal, regulatory, and / or tax factors; and (8) other factors described under the heading «Risk Factors» in Part I, Item 1A of BWW's Annual Report on Form 10 - K for the fiscal year ended December 25, 2016, as updated or supplemented by subsequent reports that BWW has filed or files with the SEC.

But, if you get an extension for filing your tax return, you have until the end of the extension period to set up the account or deposit contributions.

• Tax Amnesty: In 2018, parliamentary approval will be sought to exempt taxpayers who register and file returns within a targeted period from paying penalties and interests for late or non-submission of returns and late payments.

September is an especially important month for evaluating the outlook for PIT receipts, because it marks the mid-point of the fiscal year and because Sept. 15 is one of four quarterly filing periods for estimated tax payments by investors, business owners and self - employed people.

The Chartered Institute of Taxation (CIOT) has called on HMRC to allow taxpayers a limited number of defaults before incurring a penalty for late submissions under the new proposals for digital tax reporting.1 This can be achieved by allowing those taxpayers a short extension period on those particular occasions.2 The CIOT says such an approach to penalties is more consistent with HMRC's five principles for penalties than alternative penalty regimes that HMRC recently consulted on.3 The CIOT has said that this «cumulative suspension» penalty regime is more likely to encourage compliance, penalise non-compliance and be a proportionate response to late filing.4 HMRC is yet to publish details about the level of the penalties, although it has confirmed that this will be a fixed penalty, irrespective of the size of the business.

If a charitable, tax - exempt nonprofit — which are designated as 501 (c) 3 organizations — gives more than $ 2,500 to a covered 501 (c) 4, the charity will have to disclose all of its donors during that six - month filing period to the state Attorney General's Office, which will review the donors» identities for privacy issues before disclosing them to the public.

(Sec. 32104) Amends the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 to repeal the requirement that Treasury modify appropriate regulations to set maximum extension for the tax returns of employee benefit plans filing Form 5500 at an automatic three - and - a-half-month period ending on November 15 for calendar year plans.

Many taxpayers mistakenly believe that if they are currently unemployed or have been unemployed for an extensive period of time, then they shouldn't file taxes.

In March, you noticed that your take - home pay was about $ 100 more than in previous pay periods, so you're curious about what that $ 100 per pay period will mean when you file your 2018 tax return.

In fact, grandparents who are married and filing jointly can gift as much as $ 70,000 in one year and avoid incurring gift taxes if they elect to treat the contribution as if it were made over a five - year period.

Keep in mind that the IRS may file a «Notice of Federal Tax Lien» during a temporary delay period, in order to protect its interest in your assets.

If your net income on line 236 of your tax return exceeded $ 72,809 on your recent 2015 income tax filing, your OAS pension for the July 2016 to June 2017 payment period will be reduced by 15 cents for every dollar in excess.

Could an expert advise me on whether and how I may take a tax loss this week on my amended filing of a Fiscal Year 2015 Form 1040X return for my lost unemployment insurance claim worth $ 7000 over a 26 week period which I was denied today?

I called the Internal Revenue Service at 1-800-829-1040 to ask if I could take a tax loss this week on my amended filing of a Fiscal Year 2015 Form 1040X return for my lost Massachusetts unemployment insurance claim worth $ 7000 over a 26 week period which I was denied today.

The same period saw a sharper decline in the share of all tax returns filed as married (either «married, filing jointly» or «married, filing separately»).

As a result, you have no obligation to file an amended tax return after the relevant limitation period even if the correction would increase the amount of tax you owe.

Also, filing your tax return will begin the 10 - year period that the IRS has to collect on your tax debt, Otherwise, there will be no cap on the amount of time the IRS will be able to come after this money.

It said it will not apply interest or penalties to individual taxpayers filing their 2013 tax returns after April 30 for a period equal to the length of last week's service interruption.

Note that by becoming a resident alien, your spouse's worldwide income the whole year would be subject to US taxes, and would need to be reported on your joint tax filing, though he / she will be able to use the Foreign Earned Income Exclusion to exclude $ 100k of her foreign earned income, since he / she will have been out of the US for 330 days in a 12 - month period.

25 % Growth in ITR Filing The period between March 2017 and August 2017 saw a rise in filing of income tax returns by 25 % over corresponding last year pFiling The period between March 2017 and August 2017 saw a rise in filing of income tax returns by 25 % over corresponding last year pfiling of income tax returns by 25 % over corresponding last year period.

If you file your return within the extension period but do not pay the full balance of tax due with your return, the balance due will be subject to a late payment penalty of 6 % per month from the date of filing through the date of payment, to a maximum of 30 %.

Filing tax returns (for the period of your service, plus 180 days after you last day there; the extension period will also include the 46 days that were left before the Tax Day deadline when you entered the combat zone; during your 226 - day extension period, assessment and collection deadlines will be extended and you won't be charged penalties or interest connected to the extension peritax returns (for the period of your service, plus 180 days after you last day there; the extension period will also include the 46 days that were left before the Tax Day deadline when you entered the combat zone; during your 226 - day extension period, assessment and collection deadlines will be extended and you won't be charged penalties or interest connected to the extension periTax Day deadline when you entered the combat zone; during your 226 - day extension period, assessment and collection deadlines will be extended and you won't be charged penalties or interest connected to the extension period)

Filing a Chapter 13 case allows you to pay your back taxes over a 60 - month period rather than having the IRS garnish wages at a much higher rate.

Even paid federal tax liens remain on your credit report for a period of seven years from the file date.

The vending machine tax return must be filed electronically for each period showing the cost price or manufactured cost of tangible personal property sold through vending machines during the preceding period.

However, this approach requires filing a gift tax return and, if the contributor dies before the end of the five - year period, the portion of the contribution allocable to the remaining years in the five - year period will be included in the contributor's gross estate for federal estate tax purposes.

If you want a MO state tax extension exceeding the federal automatic extension period, you must file Form MO - 60 on or before the end of the Federal automatic extension period.

Extend reassessment period for reportable tax avoidance transactions and tax shelters where information is not filed properly and on time.

If no return was filed, or if during any four - year period less than seventy - five percent of the taxes due for that period was paid, the statute of limitations shall be no more than six years after the end of the calendar year in which the return for the period was due or the end of the calendar in which the return for the period was filed, whichever occurs later.

Filed Under: Life Insurance 101 Tagged With: estate taxes, life insurance, Two - year contestability period

It is necessary for tax payers to remember that AY and FY are two very different time periods when they embark upon the process of filing their tax returns.

Make sure you keep the income tax record along with the paperwork carefully, as the IT Department can also go for legal proceedings for the returns filed within a period of 6 years.

Because so many people were caught off guard by the penalty, the government agreed to offer a special enrollment period that year for people who didn't know about the penalty until they filed their 2014 tax returns.

Since open enrollment for 2015 had already ended before many Americans filed their tax returns for 2014, the government granted a one - time special enrollment period in the spring of 2015, allowing people another chance to enroll in 2015 coverage if they had just found out about the penalty when they filed their taxes.

The period meant for filing all belated tax returns now has been reduced to one year instead of two years.

But state law will not prevent the government from collecting the tax from a beneficiary - spouse if he or she and the deceased spouse file a joint return for the period of the deficiency — under Section 6013 (d)(3) both joint and separate liability are imposed upon husband and wife when a joint return is filed.

Processed accounts payable, maintained up - to - date vendor statements to ensure timeliness and completeness, communicated with vendors to resolve questions and concerns on invoices, issued of checks to vendors, ran aging as required to identify current items due for payment Processed accounts receivable, sent information of customer aging summary to stores and collected the payments, maintained accounts receivable Calculated monthly sales, prepared all of federal and provincial sales tax report, and remitted the sales tax to government Prepared financial statement for the monthly end and year - end, processed closing account at the end of period Employment History (continued) Reconciled bank accounts, credit card accounts and other accounts required to reconciled Processed semi-monthly payroll, vacation pay, courted ordered deductions and other benefits, prepared payroll tax report and remitted payroll tax to government Made works compensation report and bill payment Filed sales invoices, purchase bills and all of documents; trained new employees; Communicated with vendors processing RMA (Return material authorization); provided some customer services as well as some office duties.

Reconcile bank accounts daily Process accounts payable Maintain general ledgers Create and modify existing Excel documents Maintain and process payroll Maintain accounting system Perform month - end procedures and account reconciliations Create and modify existing journal entries Perform accounting data reconciliations and verifications Prepare and file 1099s, 941s, 940s, W - 2s, and C - 3s Pay payroll taxes every pay period using the Electronic Federal Tax Payment System (EFTPS) Roll over tax and fiscal years at year - end and perform all closing procedures Organize and prepare files for yearly audTax Payment System (EFTPS) Roll over tax and fiscal years at year - end and perform all closing procedures Organize and prepare files for yearly audtax and fiscal years at year - end and perform all closing procedures Organize and prepare files for yearly audit.

These conditions may be evidenced in a variety of ways, including the couple's living together (although no minimum period of cohabitation is required), raising children together, using the same surname, wearing wedding rings, filing joint tax returns, holding joint checking and savings accounts, and listing each other as spouses on health plans, retirement accounts and life insurance policies.

Toronto sales rep Herminia Senoran of Toronto was fined $ 5,000 in the Ontario Court of Justice recently after being convicted on five counts of failing to file GST tax returns for various reporting periods between 2004 and 2008.

However, if your relinquished property sale transaction closes on or after October 17th, but on or before December 31st, of any given tax year, the 180 calendar day period ends after April 15th, which is the deadline to file your Federal income tax return if you are an individual filer.

Just when I was starting to write all this uplifting stuff about how I'm on the mend, mourning period over... Raj from the tax office calls to chastise me for not filing my 2012 and 2013 tax returns.