WXC Corporation

WXC Corporation Bookkeeping, Payroll, Tax Services

These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possib...
05/26/2026

These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possible. Accordingly, these FAQs may not address any particular taxpayer’s specific facts and circumstances, and they may be updated or modified upon further review. Because these FAQs have not been published in the Internal Revenue Bulletin, they will not be relied on or used by the IRS to resolve a case. Similarly, if an FAQ turns out to be an inaccurate statement of the law as applied to a particular taxpayer’s case, the law will control the taxpayer’s tax liability. Nonetheless, a taxpayer who reasonably and in good faith relies on these FAQs will not be subject to a penalty that provides a reasonable cause standard for relief, including a negligence penalty or other accuracy-related penalty, to the extent that reliance results in an underpayment of tax. Any later updates or modifications to these FAQs will be dated to enable taxpayers to confirm the date on which any changes to the FAQs were made. Additionally, prior versions of these FAQs will be maintained on IRS.gov to ensure that taxpayers, who may have relied on a prior version, can locate that version if they later need to do so.

More information about reliance is available. These FAQs were announced in IR-2026-55.

The Department of the Treasury and the Internal Revenue Service today issued proposed regulations that would provide rul...
05/14/2026

The Department of the Treasury and the Internal Revenue Service today issued proposed regulations that would provide rules and definitions related to the new excise tax imposed on certain remittance transfers, also referred to as the remittance transfer tax, under the One, Big, Beautiful Bill.

Beginning Jan. 1, 2026, a 1% remittance transfer tax applies to remittances sent from the United States to recipients in foreign countries when the sender provides cash, a money order, a cashier’s check, or other similar physical instrument to the remittance transfer provider. The sender is liable for the tax, and remittance transfer providers are required to collect the remittance transfer tax from certain senders, make semimonthly deposits, and file quarterly returns with the IRS. If the remittance transfer provider does not collect the tax from the sender, the tax becomes a liability of the remittance transfer provider.

The Internal Revenue Service today announced a new online tool to help taxpayers understand and resolve tax debt.The Tax...
05/07/2026

The Internal Revenue Service today announced a new online tool to help taxpayers understand and resolve tax debt.

The Tax Debt Help tool provides individuals and businesses with a simple, accessible way to explore payment options and identify next steps based on their situation. The tool is part of the IRS’s broader effort to expand digital services and make it easier for taxpayers to meet their obligations.

“This new Tax Debt Help tool reflects the agency’s commitment to making tax compliance clearer, more accessible, and less intimidating for taxpayers,” said IRS Chief Executive Officer Frank J. Bisignano. “By guiding taxpayers through their options to pay with simple, interactive questions, we’re helping them understand the paths available and take confident next steps. The deployment of this new tool shows the transformation underway at the IRS and the progress the agency has already made to deliver more user-friendly, digital-first services to taxpayers.”

As the end of filing season approaches, the Internal Revenue Service reminds taxpayers they can get an extension to file...
04/30/2026

As the end of filing season approaches, the Internal Revenue Service reminds taxpayers they can get an extension to file their federal income tax return until Oct. 15, 2026, but they must request the extension by April 15, 2026, in order to avoid penalties.

An extension provides extra time to file, not additional time to pay. Taxes owed are still due by April 15. To avoid or minimize penalties and interest, taxpayers should estimate their total tax liability, subtract any payments already made, and pay the remaining balance by the deadline.

Ways to request an extension to Oct. 15
Use IRS Free File. All individual filers can use IRS Free File guided software at IRS.gov to electronically request an extension at no cost.
Use Free File Fillable Forms. Taxpayers can complete and submit Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return PDF, electronically, regardless of income.
Pay online and select “extension.” Taxpayers who pay all or part of what they owe using IRS online payment options, including IRS Online Account, Direct Pay, or Electronic Federal Tax Payment System (if already registered), can select “extension” as the reason for the payment. This automatically generates an extension; no additional forms are required. Taxpayers should keep their confirmation number in their records.
File Form 4868 by mail. Taxpayers can complete and mail Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return PDF, to the address listed in the form instructions.

The Internal Revenue Service encourages all taxpayers to create an IRS Individual Online Account to access their tax acc...
03/31/2026

The Internal Revenue Service encourages all taxpayers to create an IRS Individual Online Account to access their tax account information securely online and to help protect against identity theft and fraud.

The IRS Individual Online Account is available to anyone who can verify their identity. Tax professionals can support this effort by encouraging clients to use an IRS Individual Online Account and by using their own Tax Pro Account to complete authorized actions on their clients’ behalf.

With the same convenience as online banking, taxpayers can use the IRS Individual Online Account to: View key tax return information, such as their adjusted gross income; Request an identity protection PIN and access it throughout the year; Check the status of their refund; Confirm the status of their amended return; Get account transcripts, including wage and income records; a many more options. Check the details in our website section News.

The Internal Revenue Service today announced the launch of a new web page that allows taxpayers to confidentially report...
03/25/2026

The Internal Revenue Service today announced the launch of a new web page that allows taxpayers to confidentially report suspected tax fraud, scams, evasion, or other tax-related illegal activities, as well as internal-facing improvements that will enhance how referrals are used to stop illegal activity.

The new web page consolidates multiple IRS fraud-reporting options into a single, centralized location, making it easier for taxpayers to report suspicious activity. The web page can be found by selecting the new ‘Report Fraud’ button on the IRS.gov homepage or at IRS.gov/SubmitATip. Taxpayers are encouraged to report suspected tax-related wrongdoing as soon as possible to help the IRS address fraud and noncompliance.

This Fact Sheet provides answers to frequently asked questions (FAQs) about the new deduction for qualified overtime com...
03/19/2026

This Fact Sheet provides answers to frequently asked questions (FAQs) about the new deduction for qualified overtime compensation, such as who may be eligible to claim the deduction, including federal employees, and where to find supplemental information on eligibility and other rules.

These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possible. Accordingly, these FAQs may not address any particular taxpayer’s specific facts and circumstances, and they may be updated or modified upon further review. Find detailed information in our website section News.

The Department of the Treasury and the Internal Revenue Service today provided interim guidance for taxpayers regarding ...
03/17/2026

The Department of the Treasury and the Internal Revenue Service today provided interim guidance for taxpayers regarding the special depreciation allowance for qualified production property enacted under the One, Big, Beautiful Bill.

Notice 2026-16 announces that Treasury and the IRS will issue proposed regulations on a new provision of the law allowing taxpayers to elect to take a depreciation deduction up to 100% of the unadjusted depreciable basis of any qualified production property placed in service during a taxable year. Qualified production property is, generally, nonresidential real property used by a taxpayer as an integral part of a qualified production activity.

For tax years before 2026 (other than 2020), if your allowable credit is less than your advance credit payments, a repay...
03/03/2026

For tax years before 2026 (other than 2020), if your allowable credit is less than your advance credit payments, a repayment cap may limit the amount of the excess advance payment of the PTC that is subtracted from your refund or added to your balance due. However, for tax years after 2025, if your allowable credit is less than your advance credit payments, there is no repayment cap and the total difference will be subtracted from your refund or added to your balance due.

Employees and employers are reminded of the importance of keeping the W-4 Form up to date whenever there are changes in ...
02/25/2026

Employees and employers are reminded of the importance of keeping the W-4 Form up to date whenever there are changes in an employee’s personal or tax-related information. The W-4 Form is used to determine the correct amount of federal income tax withheld from an employee’s paycheck. Failure to update the form when needed may result in incorrect withholdings, which could lead to additional tax payments or adjustments when filing a tax return.

Address

8750 NW 36th Street, Suite 540
Doral, FL
33178

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

(305) 676-6576

Website

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