Newsletters

Second Part of ERC Withdrawal Process “Soon” – Werfel

The Internal Revenue Service is still working on the details of how it is going to help taxpayers that may […]

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Form 1099-K Reporting Threshold Delayed for TPSOs for 2023, Notice 2023-74; IR-2023-221; IRS Fact Sheet FS-2023-27

The IRS has announced that calendar year 2023 would continue to be regarded as a transition period for enforcement and administration of the de […]

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IRS Releases 2024 Inflation-Adjusted Tax Tables, Standard Deduction, AMT and Other Amounts, IR-2023-208; Rev. Proc. 2023-34

The IRS has released the annual inflation adjustments for 2024 for the income tax rate tables, plus more than 60 other tax provisions. The IRS makes these cost-of-living adjustments (COLAs) each year to reflect inflation. […]

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2024 Inflation Adjustments for Pension Plans, Retirement Accounts Released, Notice 2023-75; IR-2023-203

The 2024 cost-of-living adjustments (COLAs) that affect pension plan dollar limitations and other retirement-related provisions have been released by the IRS. In general, many of the pension plan limitations will […]

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IRS Reminds Eligible Previous Years’ Non-Filers to Claim Recovery Rebate Credit, IR-2023-217

The IRS reminded taxpayers who may be entitled to claim Recovery Rebate Credit (RRC) to file a tax return to claim their credit before the April-May, 2024 […]

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Goals For 2024 Filing Season Outlined, FS-2023-25

The Internal Revenue Service is looking to improve its customer service metrics as well as improve its technology offerings in […]

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IRS Launches Business Taxpayer Accounts, Allows Online Notice Responses

The Internal Revenue Service announced the launch of the first phase of rolling out business taxpayer accounts, as well as enable taxpayers to respond to notices online. In an […]

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Social Security Wage Cap and Benefit Amounts Increase for 2024, Social Security Fact Sheet: 2024 Social Security Changes; Social Security Announces 3.2 Percent Benefit Increase for 2024

For 2024, the Social Security wage cap will be $168,600, and social security and Supplemental Security Income (SSI) benefits will increase by 3.2 percent. These changes reflect cost-of-living adjustments to account for inflation. Wage Cap for Social Security Tax […]

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Energy Credit Online Tool Now Available to Sellers, IR-2023-202

The IRS has announced that enrollment to the IRS Energy Credit Online tool is now open to the sellers of clean vehicles. The Energy Credits tool is available free of cost and will […]

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Energy Credit Online Tool Now Available to Sellers, IR-2023-202

IRS Offers Cybersecurity Tips, IR-2023-200

The IRS and Security Summit partners reminded taxpayers to remain vigilant against potential cybersecurity threats. As the National Cybersecurity Awareness Month is […]

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IRS Offers Cybersecurity Tips, IR-2023-200

IRS Cautions Against Charity Scams Amid Global Crisis, IR-2023-196

The IRS has issued a warning to taxpayers, advising them to be cautious of fraudulent solicitors who pretend to represent genuine charities. These […]

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IRS Cautions Against Charity Scams Amid Global Crisis, IR-2023-196

IRS Reminds IRA Owners of Tax-Free Charitable Transfer Option, IR-2023-215

The IRS has reminded individual retirement arrangement (IRA) owners, aged 70½ or older, of tax-free charitable transfers permitting senior citizens to contribute up to $100,000 annually to eligible charities […]

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IRS Reminds IRA Owners of Tax-Free Charitable Transfer Option, IR-2023-215

IRS Urges Taxpayers to Review Withholding, IR-2023-205

The IRS has urged taxpayers to promptly review their tax withholding to avoid surprises, whether in the form of significant refunds or balances due when filing taxes next […]

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IRS Urges Taxpayers to Review Withholding, IR-2023-205

Low and Moderate Income Taxpayers Can Save More through Saver’s Credit in 2024, IR-2023-222

The IRS has reminded low and moderate income taxpayers that they can save more for their retirement now through Saver’s Credit. This credit is available to taxpayers who are 18 years […]

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Low and Moderate Income Taxpayers Can Save More through Saver’s Credit in 2024, IR-2023-222

FL - Change in Collier County local communications services tax rates announced

Effective January 1, 2024, the Florida local communications services tax (CST) rates in Collier County are as follows: 2.1% in […]

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FL - Change in Collier County local communications services tax rates announced

FL - Guidance on credit for human milk fortifier manufacturing equipment issued

Florida issued guidance regarding a corporate income tax credit for manufacturing equipment purchased for the production of human breast milk […]

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FL - Guidance on credit for human milk fortifier manufacturing equipment issued

FL - Guidance on internship tax credit program issued

Florida issued guidance regarding the student internship credit program for corporate income taxpayers. The program has been renamed as the […]

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FL - Guidance on internship tax credit program issued

IRS Introduces Expanded Chatbot Technology to Assist Taxpayers with Underreporting Notices, IR-2023-78

The Service has introduced an expanded chatbot to promptly address inquiries of taxpayers receiving notices about possible underreporting of taxes. The new chatbot feature will assist taxpayers receiving CP2000 , CP2501 and CP3219A notices. This tech […]

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IRS Introduces Expanded Chatbot Technology to Assist Taxpayers with Underreporting Notices, IR-2023-78