In a recent article published in Industry Today, Zack Leder and Ben Bowers provide insight to businesses who are preparing to file their 2016 income tax returns and highlight the changes to various requirements and tax breaks that may apply to businesses’ upcoming filings. Leder and Bowers explain that the legislative change that will affect almost all taxpayers is the new tax return due date schedule in the PATH Act, which made permanent the Code Sec. 179 deduction for personal property and certain qualifying real property.
They also provide tax changes in relation to the Affordable Care Act, saying that businesses with more than 50 full-time employees must generally furnish information returns to employees regarding their health care coverage, for which the IRS has extended the deadline to March 2nd, 2017, for health coverage offered in 2016. Click here for the full article.
For more information on tax filing requirement changes, please contact Zack Leder by calling 770.396.2200.