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NCDOR Sends $200 Million in Business Recovery Grants

1 month 3 weeks ago

The N.C. Department of Revenue (NCDOR) mailed checks to more than 3,900 North Carolina businesses awarded under Phase 2 of the Business Recovery Grant Program (BRG) on Thursday, Sept. 29. Businesses will begin to receive payments in the coming days.

tcbeam

Individual Income Tax Returns With Extensions Are Due On Oct. 15

2 months 1 week ago

Taxpayers who received a valid extension to file 2021 individual income tax returns that were originally due on April 15, 2022, must file those returns by Oct. 15. Since Oct. 15 falls on a Saturday, taxpayers have until Monday, Oct. 17 (i.e., the next succeeding day which is not a Saturday, Sunday, or legal holiday), to file their returns and not be subject to the late filing penalty.

tcbeam

Student Loan Forgiveness Currently Considered Taxable Income

2 months 3 weeks ago

Student loan forgiveness excluded pursuant to IRC 108(f)(5) is currently considered taxable income in North Carolina. The Department of Revenue is monitoring any further enactments by the General Assembly that could change the taxability of student loan forgiveness in North Carolina. 

tcbeam