Did you know?....
-Effective for years ending after 9/30/08, Partnership and Trust tax return extensions are now available for 5 months. Extended Forms 1065 and 1041 will be due by September 15th.
-For Massachusetts: Small Business with less than 5 employees and less than $1 million in sales, may file Mass Form ST-13 with their energy providers and will not be subject to Mass sales tax on their purchases. There is also a similar exclusion if you are considered a Manufacturer.
-Small Not-for-Profit organizations are no longer required to file for an "Advanced Ruling" with the Internal Revenue Service. The new redesigned forms 990, 990-EZ or 99N will serve as a request for Not-for-Profit status.
The above are just quick notes of interest, as you all know there are always specific limit and exceptions to every rule. For further discussion or possible implementation, give us a call.
