Published: 5/12/2020 7:59:48 PM

Workers Must Return to Work When Recalled Workers who have been placed on a temporary layoff related to COVID-19 but refuse to return to work when recalled by their employer will lose unemployment benefits, except for certain circumstances. View guidance. Businesses should report employees who refuse to return to work without good reason or who quit their jobs to as soon as possible. The CARES Act specifically provides for serious consequences for fraudulent cases. Individuals are responsible for paying back benefits deemed as overpayments due to ineligibility. Revised Employee Notification Posting Requirement South Dakota law requires a workplace posting informing employees about

» Read more

Federal Tax Deferral

Published: 3/18/2020 11:00:45 AM

Federal Tax Deferral On March 17, 2020 Treasury Secretary Mnuchin announced that TAX RETURNS ARE STILL DUE APRIL 15. However, payments that are due on April 15th, or due with an extension on April 15th, may be delayed until July 15, 2020 without penalty or interest. If the return is not timely filed, or properly extended the 90-day relief will not apply. The maximum amount of deferral is $1,000,000 for an individual and $10,000,000 for a corporation. Refunds are unaffected. Within 90 days of April 15th the amount is due, without penalty or interest, and the IRS says they will

» Read more

IRS Reminds Taxpayers of Refund Delays in 2017

Published: 11/22/2016 2:21:43 PM

As Holidays Approach, IRS Reminds Taxpayers of Refund Delays in 2017 WASHINGTON –As the holidays approach, the Internal Revenue Service today reminded taxpayers to remember that a new law requires the IRS to hold refunds until mid-February in 2017 for people claiming the Earned Income Tax Credit or the Additional Child Tax Credit. In addition, new identity theft and refund fraud safeguards put in place by the IRS and the states may mean some tax returns and refunds face additional review.

» Read more

Employers Face New Jan.31 W-2 Filing Deadling

Published: 11/2/2016 12:18:33 PM Reminder: Employers Face New Jan. 31 W-2 Filing Deadline; Some Refunds Delayed Until Feb. 15 IR-2016-143, Oct. 28, 2016 WASHINGTON — The Internal Revenue Service today reminded employers and small businesses of a new Jan. 31 filing deadline for Forms W-2. The IRS must also hold some refunds until Feb. 15. A new federal law, aimed at making it easier for the IRS to detect and prevent refund fraud, will accelerate the W-2 filing deadline for employers to Jan. 31. For similar reasons, the new law also requires the IRS to hold refunds involving two key refundable tax credits

» Read more

IRS to Delay Tax Refunds Involving EITC and ACTC Next Year

Published: 6/16/2016 10:17:27 AM

IRS to Delay Tax Refunds Involving EITC and ACTC Next Year Washington, D.C. (June 13, 2016) By Michael Cohn The Internal Revenue Service is warning tax professionals that next year a new law will require the IRS to hold all Earned Income Tax Credit and Additional Child Tax Credit refunds until Feb. 15 as a safeguard against identity theft and tax fraud. The IRS pointed out the new law is likely to affect some returns submitted early in the tax filing season. The IRS is encouraging tax professionals to begin preparing for the change now. Planning is also underway for

» Read more

South Dakota sales tax and use tax rate increase June 1st

Published: 5/23/2016 10:05:49 AM

The South Dakota state sales and use tax rate will increase from 4% to 4.5% on June 1. All transactions that are currently subject to the 4% state sales or use tax rate will be subject to the 4.5% sales or use tax rate effective June 1, 2016. The Municipal taxes are not affected by this rate increase. If you have questions, you can find answers on the Department of Revenue’s website FAQ section at this address:, or you can call the South Dakota Department of Revenue Taxpayer Assistance Center at (800) 829-9188.

» Read more

IRS Statement on Experiencing Systems Outage

Published: 2/4/2016 3:21:46 PM

Feb. 3, 2016 The IRS experienced a hardware failure this afternoon affecting a number of tax processing systems, which are currently unavailable. Several of our systems are not currently operating, including our modernized e-file system and a number of other related systems. The IRS is currently in the process of making repairs and working to restore normal operations as soon as possible. We anticipate some of the systems will remain unavailable until tomorrow. The IRS remains in close contact with e-file software transmitters and the tax community during this period. A number of taxpayer and tax practitioner tools are unavailable.

» Read more

Tax Extenders - Tax Year 2015

Published: 12/21/2015 5:03:22 PM

On December 18, 2015, the President signed into law the Protecting American from Tax Hikes Act of 2015 (PATH Act). The following (along with others) have been reinstated retroactive to January 1, 2015. Educator expenses. The new law makes the adjustment to income for qualified expenses of elementary and secondary school teachers permanent. The law also indexes the current expense cap of $250 for inflation beginning in 2016. State and local general sales taxes. Charitable contributions of IRA distributions. Enhanced Section 179 expense. A temporary Section 179 expense limit of $500,000 and investment limit of $2 million before phaseout was

» Read more