Oklahoma statutes provide that the sales tax is to be paid by the consumer to the seller. The seller is specifically prohibited from absorbing or paying the tax on behalf of the consumer and is required to collect the sales...more
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020, and, among other relief provisions, amends the Internal Revenue Code to provide relief to businesses and individuals....more
4/6/2020
/ CARES Act ,
Charitable Deductions ,
Coronavirus/COVID-19 ,
Federal Taxes ,
Income Taxes ,
Net Operating Losses ,
Retirement Funds ,
Tax Deductions ,
Tax Liability ,
Tax Relief ,
Tax Returns
The Oklahoma Tax Commission has followed the guidance issued by the Internal Revenue Service to allow individual taxpayers to defer up to $1 million of income tax payments due on April 15, 2020, until July 15, 2020, without...more