FL - Tax rate on commercial rentals reduced from 4.5% to 2% effective june 1, 2024
Effective June 1, 2024, the Florida sales tax rate imposed on the total rent charged for renting, leasing, letting, or […]
Read MoreThe IRS, state tax agencies and the tax industry have warned tax professionals of new and ongoing threats involving their systems and taxpayer data. This effort began with the Security Summit’s annual summer campaign “Protect Your Clients; Protect Yourself.” The special five-part news release series began July 19 and will run every Tuesday through August 16. This coincides with the dates for the 2022 IRS Nationwide Tax Forum.
The IRS reminds tax professionals to focus on fundamentals and to watch out for emerging vulnerabilities being seen for those practitioners using cloud-based services for their practice. Tax professionals are prime targets of criminal syndicates that are both tech- and tax-savvy and well-funded. Thieves can use stolen data to file fraudulent tax returns that make it more difficult for the IRS and the states to detect because the fraudulent returns use real financial information. Other data thieves sell the basic tax preparer or taxpayer information on the web so that other fraudsters can try filing fraudulent tax returns.
During the five weeks of the annual summer campaign, the Security Summit partners will highlight a series of simple actions that tax professionals can take to better protect their clients and themselves from sensitive data theft. These recommendations will be to:
The IRS also reminded tax professionals about the IRS Nationwide Tax Forum’s three webinars focused on cyber- and information security.
Effective June 1, 2024, the Florida sales tax rate imposed on the total rent charged for renting, leasing, letting, or […]
Read MoreFlorida has released the severance tax rates on the production of heavy minerals and other solid minerals for 2024. From […]
Read MoreThe IRS has provided a waiver for any individual who failed to meet the foreign earned income or deduction eligibility requirements of Code Sec. 911(d)(1) because adverse conditions in a foreign country […]
Read MoreThe IRS announced that compliance efforts around erroneous Employee Retention Credit (ERC) claims have topped more than $1 billion within six months. “We are encouraged by the results so far of […]
Read MoreThe IRS has announced the federal income tax treatment of certain lead service line replacement programs for residential property owners. It is required by the federal and many […]
Read MoreThe IRS has released guidance to help taxpayers understand what to do with Form 1099-K. Responding to feedback from taxpayers, tax professionals and payment processors, […]
Read MoreThe Treasury Department‘s Office of Payment Integrity (OPI) deployed Artificial Intelligence(AI)-based fraud detection at the onset of Fiscal Year 2023, resulting in the recovery of over $375 million. […]
Read MoreThe Florida Senate approved a tax bill that changes the corporate income tax IRC conformity tie-in date. H.B. 7073, as […]
Read MoreFlorida House of Representatives passed a bill with a provision that modifies the IRC conformity tie-in date for determining corporate […]
Read MoreThe Financial Crimes Enforcement Network (FinCEN) issued guidance on inflation adjustments to its civil monetary penalties as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990 (the Act), as amended. This rule […]
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