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 MoreAn individual’s claim for innocent spouse relief was rejected for lack of jurisdiction because the taxpayer failed to file his petition within the 90-day deadline under Code Sec. 6015(e)(1)(A). The taxpayer argued […]
Read MoreThe IRS has continued to increase the amount of information available in multiple languages. This was part of the IRS transformation work under the Strategic Operating Plan, […]
Read MoreThe IRS has granted to withholding agents an administrative exemption from the electronic filing requirements for Form 1042, Annual Withholding Tax Return for U.S. Source Income of […]
Read MorePresident Biden support extending the individual tax provisions of the Tax Cuts and Jobs Act, many of which are set to expire next year, Department of the Treasury Secretary […]
Read MoreCorporations and billionaires will be paying more in taxes if Congress follows recommendations President Biden gave during his State of the Union address. President Biden highlighted a number of initiatives […]
Read MoreThe IRS has launched a new initiative to improve tax compliance among high-income taxpayers who have not filed federal income tax returns since 2017. This effort, funded by the […]
Read MoreThe Internal Revenue Service has reviewed, redesigned and deployed 31 notices for the 2024 tax filing season in an effort to simplify the notices and improve […]
Read MoreThe IRS, with its Criminal Investigation (CI) arm, has urged businesses to review eligibility for the Employee Retention Credit (ERC). To combat fraud, they […]
Read MoreEffective 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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