FL - Guidance provided on change in application process for child care tax credit
Beginning October 1, 2024, taxpayers that wish to participate in the child care tax credit program must apply to the […]
Read MoreThe IRS has released a list of exceptions for the inclusion of a cancelled student loan debt in income. Generally, had a taxpayer’s student loan been cancelled or repaid by someone else, the taxpayer was mandated to include the cancelled or repaid loan amount as part of their gross income, for tax purposes. However, the American Rescue Plan Act of 2021 has modified the treatment of student loan forgiveness for discharges in 2021 through 2025, wherein the taxpayer may be able to exclude the repaid or cancelled loan amount from his gross income, if the loan could be categorized as one of the following:
Taxpayers can find more information about the list of exceptions to canceled student loan debt in income https://www.irs.gov/forms-pubs/modified-treatment-of-student-loan-forgiveness-for-discharges-in-2021-through-2025.
Beginning October 1, 2024, taxpayers that wish to participate in the child care tax credit program must apply to the […]
Read MoreThe IRS and the Security Summit concluded their eight-week summer awareness campaign by urging tax professionals to implement stronger security […]
Read MoreThe IRS has reminded employers that educational assistance programs can be used to help employees pay off student loans until […]
Read MoreThe IRS has updated the applicable percentage table used to calculate an individual’s premium tax credit and required contribution percentage […]
Read MoreThe IRS has reminded businesses that starting in tax year 2023 changes under the SECURE 2.0 Act may affect the […]
Read MoreThe IRS has urged taxpayers to conduct an end-of-summer tax checkup to avoid unexpected tax bills in the upcoming year. […]
Read MoreHillsborough County residents and non-residents who can verify taxable expenditures with receipts or other documentation will receive compensation equal to […]
Read MoreThe IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
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