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 identified drought-stricken areas where tax relief is available to taxpayers that sold or exchanged livestock because of drought. […]
Read MoreSenate Finance Committee Chairman Ron Wyden has indicated to the Internal Revenue Service what his expectations for the recently allocated […]
Read MoreThe American Institute of CPAs has posted comments on guidance recently issued by the Internal Revenue Service regarding the deductibility […]
Read MoreThe IRS has released the annual inflation adjustments for 2023 for the income tax rate tables, plus more than 60 […]
Read MoreThe 2023 cost-of-living adjustments (COLAs) that affect pension plan dollar limitations and other retirement-related provisions have been released by the […]
Read MoreFor 2023, the Social Security wage cap will be $160,200, and social security and Supplemental Security Income (SSI) benefits will […]
Read MoreThe IRS has released the 2022-2023 special per diem rates. Taxpayers use the per diem rates to substantiate certain expenses […]
Read MoreThe Financial Crimes Enforcement Network (FinCEN) has issued a final rule implementing the beneficial ownership information reporting provisions under the […]
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 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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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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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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