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If you are unable to complete and file your federal income tax return by the April deadline, the IRS does provide taxpayers with the opportunity to request an extension. An extension gives the taxpayer until the middle of October of the current year to file their most recent federal income tax return. The Internal Revenue Service provides two avenues to request an automatic extension in advance of the April filing deadline, with taxpayers either using IRS Free File at IRS.gov/freefile to request an automatic filing extension or filing IRS Form 4868, Application for Automatic Extension of Time to File. #taxfiling #filingextension #1040

The Internal Revenue Service (IRS) Form 1040 is the United States of America’s individual income tax return. The IRS Form 1040 enables the taxpayer to calculate their taxable income and the tax on that income, so as to either claim a refund or pay income taxes due for the relevant tax year. http://www.lawtax.ca

The Internal Revenue Service devised a taxpayer campaign, known as the Dirty Dozen campaign, that is directed at warning taxpayers of the most common tax scams that are being perpetrated in the United States of America.

The IRS sets out their stated position with respect to travel expenses and their deductibility in IRS Publication 463, although for purposes of this particular video we are going to be focusing upon the broad term of travel expenses, without going into the technical aspects as to how much can be deducted, etc. It should also be noted that IRS Publication 463 of itself, for which we are providing but a brief look at, is itself merely an introductory overview, with the specifics actually needing to be discerned from the United States Internal Revenue Code and court decisions, in particular those of the US Tax Court and appellate decisions, typically in conjunction with seasoned tax professionals, to get down to the specifics. https://www.neufeldlegal.com

The Earned Income Tax Credit or Earned Income Credit is a tax credit that is available to low-income and moderate-income wage earners and families in the United States of America who meet criteria established by the Internal Revenue Service. The US federal government conceptualized the Earned Income Tax Credit as a “work bonus plan”, intended to supplement the wages of low-income and moderate-income workers and thereby help offset the effect of Social Security taxes. Considering its financial significance to many low-income wage earners, it is accordingly viewed as an anti-poverty tax benefit. https://www.neufeldlegal.com

The Internal Revenue Service, commonly referred to by its acronym IRS, is the United States government agency, under the Department of Treasury, responsible for the collection of taxes (including individual income taxes, employment taxes, corporate taxes, excise taxes, gift and estate taxes) and enforcement of tax laws. https://www.neufeldlegal.com

If your Canadian business meets the specified criteria of the federal government with respect to business size, it is legally obligated to file by May 31, 2024, a report on its actions with respect to forced labor and child labor in its supply chain (anti-slavery report). https://www.neufeldlegal.com

At Neufeld Legal, we recently saw the United States Federal Trade Commission vote to institute a new rule as to the interpretation of section 5 of the Federal Trade Commission Act, which bans current and future non-competes in the employment setting, with the exception of existing non-competes for senior executives. The new rule, which is set to come into effect at the end of August 2024, only provides for one permissible employment-related carve-out, which is provided to existing worker non-competes with respect to senior executives, who are workers earning more than $151,164 USD annually who are in a “policy-making position.” The US Federal Trade Commission’s explanation for this particular carve-out for existing non-competes with senior executives, was its determination that this subset of workers is less likely to be subject to the kind of acute, ongoing harms currently being suffered by other workers subject to existing non-competes and there were credible concerns raised as to the practical impacts of extinguishing existing non-competes for senior executives. https://www.neufeldlegal.com

What is the employee impact arising from Walmart's relocation and layoff initiative and what actions should employees consider? Even if you've acted, there might be more to consider! As an employee lawyer who looks at aspects of employment arrangements and employee layoffs from an angle that most other lawyers would appear to either overlook or not be interested in investigating, the recent announcement of substantial layoffs by Walmart at the corporate level was particularly concerning. Employees are effectively being provided but two choices, either (1) relocate one's life to Arkansas and leave everything you've worked for and built behind, including uprooting your family and all community ties (especially if forced to depart Toronto, Ontario, Canada) or (2) be permanently laid off and take Walmart's severance pay package, which has a lot of questions associated with it. https://www.employeelawyer.ca

Major employee pay improvement (as reported by Neufeld Legal) New rules are coming into effect around overtime pay in the United States on July 1, 2024, with an even larger bump up on January 1, 2025. Learn more, as there are major implications for employers and employees, but also other overtime pay rule changes that need to be reviewed. It always struck me when reviewing state payroll legislation, that the United States allowed administrative employees who were paid a salary to be exempt from overtime pay, such that office employees who were paid a relatively low salary could find themselves in the difficult position of working significant overtime hours without added remuneration. https://www.neufeldlegal.com