Frank Granatino, CPA’s Post

🔔 Tax Alert: Important Update on Corporate Tax Deadlines 🔔 The Federal Tax Authority (FTA) has announced an extension for submitting tax returns and corporate tax payments for short tax periods ending on or before February 29, 2024. The new deadline is December 31, 2024. 🗓 Key Points: FTA Decision No. (7) of 2024 postpones the deadline for tax returns and payments. Applies to taxpayers with financial years ending on: December 31, 2023 January 31, 2024 February 29, 2024 This extension supports taxpayers who have a first tax period shorter than the standard 12 months. 🚨 Example Scenario: A company established on June 10, 2023, with a financial year ending December 31, 2023, would have a first tax period from June 10 to December 31, 2023. Previously, the deadline was September 30, 2024. Now, it's extended to December 31, 2024. 📣 Statement from FTA Director General: His Excellency Khalid Ali Al Bustani emphasizes the FTA's commitment to supporting taxpayers in meeting their tax obligations seamlessly. 📝 What You Need to Do: Ensure all tax returns and payments for the applicable periods are completed by the new deadline: December 31, 2024. For more details, refer to Federal Decree-Law No. (47) of 2022 and its amendments. #TaxAlert #CorporateTax #FTAUpdate #TaxCompliance

Many of the #Tax Cuts and Jobs Act (#TCJA) tax provisions will unwind next year. Add to that an upcoming election, and uncertainty around tax policy changes is top-of-mind for many. More below:

Just when you thought you had your organizations NM taxes down patt.... "While New Mexico currently doesn’t require PTE’s (pass-through entities) to make payment of estimated state and local taxes during the year they are incurred, payment is required on or before the due date of the Federal tax return. The benefit of the PTET is enhanced if the 2024 tax is paid by December 31, 2024." Learn more with REDW's trusted tax experts👉 https://lnkd.in/geR7U2CH

#ITRFiling for FY2023-24: Eligibility and Procedure for switching between Old and New Tax Regimes A person deriving #income from business or profession who has exercised the option of opting out of the prevalent new tax regime u/s 115BAC could exercise the option of opting back to the said new tax regime only once. #ITR #TaxRegime #Taxation Click here to know more! 👇

On November 14, 2024, the Lower House of the Dutch Parliament passed the 2025 Tax Plan package. Various amendments and motions were also adopted. In our memorandum we describe the main changes achieved by the adopted amendments and explain several of the motions. #tax #updates #Meijburg #KPMG

Important tax provisions expire at the end of next year, thwarting tax planning and creating a monumental fiscal challenge for Congress. #tax #taxes #incometax #incometaxes #irc #sunset #incometax #incometaxes #gifttax #giftplanning #gifts #estatetax #estateplanning

Congress is considering passing the Tax Relief for American Families and Workers Act of 2024, which would increase tax deductions. Learn more about the proposed changes in TRAFWA and how they could affect your partnership’s previously filed return. #tax #deductions

Congress is considering passing the Tax Relief for American Families and Workers Act of 2024, which would increase tax deductions. Learn more about the proposed changes in TRAFWA and how they could affect your partnership’s previously filed return. #tax #deductions

Congress is considering passing the Tax Relief for American Families and Workers Act of 2024, which would increase tax deductions. Learn more about the proposed changes in TRAFWA and how they could affect your partnership’s previously filed return. #tax #deductions

Congress is considering passing the Tax Relief for American Families and Workers Act of 2024, which would increase tax deductions. Learn more about the proposed changes in TRAFWA and how they could affect your partnership’s previously filed return. #tax #deductions