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Cambridge Massachusetts online Form 668-B: What You Should Know
Your employees must fill out a Form 668–W(ICS) to get their salary. Federal Tax Breaks for the Arts and the Environment Mar 10, 2022 — On March 10, 2019, the IRS will no longer impose a levy on any wage, salary, self-employment income, business profits, or business expenses of any taxpayer (unless the taxpayer has been found guilty of a criminal tax misdemeanor). The following taxpayers will be exempt from levy as of 2019: Arts Organizations and the Museum of Fine Arts. The IRS will cease using its discretion to levy any wages, salary, self-employment income, business profits, and business expenses on taxpayers who are not art collectors, exhibitors, gallery owners, directors, employees, collectors, or the public. Any wages, salary, self-employment income, business profits or business expenses are not taxable at the federal rate, but are taxable at the amount of the levy. Federal Tax Breaks for Art, Environment and Conservation Mar 11, 2022 — On March 11, 2019, taxpayers must collect a valid Form 906, which can be completed online at the IRS website. The Form 906 provides a tax credit of 25% of the tax liability for certain conservation-related tax losses and is designed to be filed online and not done over the phone or in person (unless the IRS requests the return be done at an IRS office). The Form 906, with the appropriate payment for tax liability at the correct rate on January 1, 2018, and prior, and the corresponding payment for tax liability on January 1, 2019, can be filed. The fee for the Form 906 is 10¢ or 5. State and Local Tax Breaks for Artists Apr 12, 2022 — The National Endowment for the Arts (NEA) has announced the following new tax breaks for artists and museums of the United States (US): 1. Artists who live in New York City or Connecticut will be allowed to claim federal income tax deductions for their local artists' community grants in excess of the state and local tax deduction limits. 2.
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