No Further Funding Cuts For IRS In FY24
Other than a planned repurposing of Inflation Reduction Act supplemental funding, the Internal Revenue Service saw no other cuts as the President signed off on the resolution […]
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The IRS announced that taxpayers electronically filing their Form 1040-X, Amended U.S Individual Income Tax Return, will for the first time be able to select direct deposit for […]
Read MoreThe IRS has provided details clarifying the federal tax status involving special payments made by 21 states in 2022. Taxpayers in many […]
Read MoreThe IRS intends to change how it defines vans, sports utility vehicles (SUVs), pickup trucks and “other vehicles” for purposes of the Code Sec. 30D new clean vehicle […]
Read MoreThe IRS established the program to allocate environmental justice solar and wind capacity limitation (Capacity Limitation) to qualified solar and wind facilities eligible for […]
Read MoreThe IRS announced a program to allocate $10 billion of credits for qualified investments in eligible qualifying advanced energy projects (the Code Sec. 48C(e) program). […]
Read MoreThe IRS has notified taxpayers of the applicable reference standard required to be used to determine the amount of the […]
Read MoreThe Treasury Department and the IRS have provided guidance announcing that they intend to issue proposed regulations to address the […]
Read MoreWith the transition of leadership from Democrats to Republicans in the House of Representatives comes new rules that legislators must […]
Read MoreOther than a planned repurposing of Inflation Reduction Act supplemental funding, the Internal Revenue Service saw no other cuts as the President signed off on the resolution […]
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The IRS released statistics that showed 1,644 tax and money-laundering cases related to COVID fraud, totaling $9 billion investigated by the Criminal Investigation (CI). CI is the law enforcement […]
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The IRS updated frequently asked questions (FAQ) on New, Previously Owned and Qualified Commercial Clean Vehicle Credits. These FAQs provide guidance on how the Inflation Reduction […]
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KPMG TaxNewsFlash – United States March 20, 2024 The IRS today released Notice 2024-31 [PDF 156 KB] providing the adjustments to the limitation on housing expenses, under […]
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The IRS has issued an announcement that addresses the federal income tax treatment of amounts paid for the purchase of energy efficient property and improvements. Taxpayers who […]
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Reflecting on the 2024 tax filing season, the IRS released major filing numbers for the season. The agency highlighted a variety of improvements that dramatically expanded service for millions of taxpayers during […]
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The IRS has wrapped up the 2024 Dirty Dozen campaign, with a warning to taxpayers to beware of promoters selling bogus tax avoidance strategies. Promoters have been peddling elaborate bogus schemes to […]
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Effective June 1, 2024, the Florida sales tax rate imposed on the total rent charged for renting, leasing, letting, or […]
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Florida has released the severance tax rates on the production of heavy minerals and other solid minerals for 2024. From […]
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The 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 […]
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