Newsletters

Tax Code Simplification Among AICPA Priority Guidance Recommendations

The American Institute of CPAs is encouraging the Department of the Treasury and the Internal Revenue Service to simplify the tax code as part of its recommendations for what guidance should be given priority in the coming year.

In a May 9, 2023, letter to the IRS, the organization said that it “again encourages the Department of the Treasury and the Internal Revenue Service to continue pursuing tax simplification,” and offered a series of recommendations to help achieve that, including:

In addition to the guidelines for tax code simplification, AICPA offered its guidance recommendations across a range of topics. The letter containing the recommendations, along with other tax policy and advocacy comment letters issued by the organization, can be found here.

IRS Implements Measures to Prevent Refund Delays by Accepting Duplicate Dependent Returns with IP PIN, IR-2024-294

The IRS implemented measure to avoid refund delays and enhanced taxpayer protection by accepting e-filed tax returns with dependents already […]

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IRS Implements Measures to Prevent Refund Delays by Accepting Duplicate Dependent Returns with IP PIN, IR-2024-294

IRSAC Issues 2024 Annual Report with Key Recommendations for Tax Administration, IR-2024-293

The IRS Advisory Council (IRSAC) released its 2024 annual report, offering recommendations on emerging and ongoing tax administration issues. As a […]

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IRSAC Issues 2024 Annual Report with Key Recommendations for Tax Administration, IR-2024-293

IRS Announces Second Remedial Amendment Cycle For Code Sec. 403(b) Pre-Approved Plans, Announcement 2024-38

The IRS announced details for the second remedial amendment cycle (Cycle 2) for Code Sec. 403(b) pre-approved plans. The IRS also addressed […]

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IRS Announces Second Remedial Amendment Cycle For Code Sec. 403(b) Pre-Approved Plans, Announcement 2024-38

IRS Publishes Fiscal Year 2024 Financial Report and Receives Award for 2023 Report, IR-2024-286

The IRS has published its latest Financial Report, providing insights into the Service’s current financial status and addressing key financial […]

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IRS Publishes Fiscal Year 2024 Financial Report and Receives Award for 2023 Report, IR-2024-286

IRS Allocates Unused Low-Income Housing Credits, Rev. Proc. 2024-41

The IRS has published the amounts of unused housing credit carryovers allocated to qualified states under Code Sec. 42(h)(3)(D) for calendar year […]

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IRS Allocates Unused Low-Income Housing Credits, Rev. Proc. 2024-41

IRS Offers Checklist of Reminders as Taxpayers Prepare to File 2024 Tax Returns, IR-2024-297

The IRS has offered a checklist of reminders for taxpayers as they prepare to file their 2024 tax returns. Following […]

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IRS Offers Checklist of Reminders as Taxpayers Prepare to File 2024 Tax Returns, IR-2024-297

FL - Guidance issued on approval of constitutional amendment 5, annual inflation adjustment to homestead exemption value

Amendment 5 was approved by Florida voters in the November 5, 2024, general election for property tax purposes. This amendment: […]

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FL - Guidance issued on approval of constitutional amendment 5, annual inflation adjustment to homestead exemption value

FL - Interest rates for first half of 2025 announced

The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]

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FL - Interest rates for first half of 2025 announced

FL - Guidance provided on taxability of holiday decorations and lighting

The sale, rental, and associated charges for the design, installation, removal, and storage of holiday decorations and lighting are subject […]

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FL - Guidance provided on taxability of holiday decorations and lighting

IRS Warns of Charity Scams Following Hurricanes Milton and Helene, IR-2024-269

The IRS has offered some tips to taxpayers about scammers using fake charities to exploit unsuspecting donors in the aftermath […]

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IRS Warns of Charity Scams Following Hurricanes Milton and Helene, IR-2024-269