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The 2023 tax season is officially underway and many South Carolinians have new changes to be aware of before filing. The IRS began accepting 2022 tax returns on Monday. The 2023 tax season ...
No RC or EZ has a population greater than 200,000. Qualifying businesses in RCs are eligible for employment credits (up to $1,500 yearly per RC resident employed). Qualifying RC businesses are also eligible for a 0% tax on the capital gains of assets sold, provided the business holds the asset at least five years.
For detailed information on all RC/EZ tax incentives, including which tax forms to file to claim the incentives, read IRS Publication 954, Tax Incentives for Distressed Communities. The empowerment zone employment credit provides businesses with an incentive to hire individuals who both live and work in an empowerment zone.
The Form 1040EZ ("easy form"), Income Tax Return for Single and Joint Filers With No Dependents, was the simplest, six-section Federal income tax return, introduced in 1982. Its use was limited to taxpayers with taxable income below $100,000 (as of tax year 2016 [update] ) who take the standard deduction instead of itemizing deductions and have ...
Owning a home can already be a costly proposition in 2023. Don’t leave money on the table too. The 2023 tax season is well underway any many people have begun filing their returns before the ...
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