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From Our Insights
Form 1040-X corrects a filed return, and the refund clock closes 3 years after filing or 2 years after paying, whichever is later. Here is what actually triggers an amendment, when a superseding return applies, and what the IRS fixes on its own.
The IRS lists a yacht as an entertainment facility, and generally no expense for its use, including depreciation and operating costs, is deductible. Here is where the rule bites, what listed property means for a boat, and when a business really can depreciate one.
Florida reemployment tax funds unemployment benefits and is paid by the employer. It rides on the first $7,000 of each worker's wages, and the RT-6 is due the last day of the month after each quarter. Unpaid tax carries floating interest on the state's calendar.
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