Five Indiana Counties Increase Tax Rates as of October 1, 2022

The Indiana Department of Revenue updated Departmental Notice #1 which assists withholding agents in determining the correct amount of Indiana county income tax to withhold from an employee’s wages by providing the tax rate for each county. Five counties have increased their rates effective October 1, 2022. The changes are highlighted below. For a complete […]

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New Schedule K-2 and K-3 Guidance / Potential Filing Delays

The IRS issued updated instructions in mid-January 2022 for new tax forms K-2 and K-3 applicable to tax year 2021 for S-Corporations and partnerships/LLCs. The Schedule K-2 and K-3 forms expand on the IRS’s objective of more transparency related to a business or individual’s foreign (non-U.S.) income or foreign investments. The updated instructions indicate that […]

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