Brady Ware News

FBAR Penalty Not Time-Barred

In the Courts: Individual’s FBAR Penalty Not Time-Barred In U.S. v. Schwarzbaum, a federal district court recently rejected an individual’s claims that penalties assessed against him for failing to file multiple Reports of Foreign Bank and Financial Accounts (FBARs) should be set aside. He argued that they were assessed after the limitations period had expired. The…

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New Bankruptcy Relief

New Bankruptcy Relief Coming Soon Is your small business struggling to make ends meet? Some relief may be on the way for distressed business owners. The Small Business Reorganization Act of 2019 will make it faster and less expensive to benefit from a Chapter 11 bankruptcy. The legislation was signed into law in August, and…

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Year-End Tax Planning Moves for Small Businesses

Year-End Tax Planning Moves for Small Businesses It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019…

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Ohio State and Local Tax Updates October 2019

Ohio’s RITA no longer accepts CDs / USBs for electronic W-2 reporting Starting Jan. 1, Ohio’s Regional Income Tax Agency (RITA) will no longer accept CDs or USB drive submissions for electronic W-2 reporting. Any CD or USB drive submission will be destroyed. All electronic W-2 submissions must be submitted through the state’s “My Account”…

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Georgia State and Local Tax Updates October 2019

Georgia Dept. of Revenue reminds taxpayers of tax filing deadlines The Georgia Dept. of Revenue (GDOR) is reminding taxpayers of various upcoming tax filing deadlines. Taxpayers who needed additional time to file their individual income taxes, corporate taxes, or partnership taxes from the original April 15, 2019, deadline must file by Tuesday, Oct. 15, 2019….

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