Tax Alerts

2022 Filing Season Taxpayer Resource Page Launched

The IRS has announced a special new page on IRS.gov to provide the latest information affecting the 2022 filing season. The IRS has created this special web page to help taxpayers who may face numerous issues due to pandemic-related challenges and critical law changes that took place in 2021. The page will raise awareness about these issues and provide taxpayers with the latest timely information. The page will also provide a quick overview of information to help taxpayers who have previous year tax returns awaiting processing by the IRS. The page also includes links to information regarding the ongoing efforts by the agency to address the inventory of unprocessed tax returns filed before this year. This includes steps to stop over a dozen common letters to taxpayers and updates on IRS operations and unprocessed tax returns. The page will be available through the IRS.gov home page and shared through social media and other channels. The IRS began this tax season on January 24 and over 4 million tax refunds worth nearly $10 billion have gone out in less than two weeks. Millions more will go out in the weeks ahead.

IRS Commissioner Chuck Rettig stated that this new page provides a one-stop-shop for the latest key information taxpayers and the tax community may need. He further stated that the combination of new tax laws, the pandemic and numerous other factors have led to an unprecedented amount of unprocessed tax returns and correspondence remaining in the IRS inventory. He stated that the IRS must continue pursuing innovative strategies to return inventories to a healthy level before entering the 2023 filing season. Finally, he informed taxpayers that refunds for tax returns and amended tax returns in the inventory continue to flow out to taxpayers. The IRS urged taxpayers to carefully review their tax filings for accuracy and file electronically with direct deposit to speed refunds.

FL - Guidance issued on affidavit required to claim exemption for boats sold to nonresident purchasers

Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]

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FL - Guidance issued on affidavit required to claim exemption for boats sold to nonresident purchasers

FL - Storm Extensions Offered

The Florida Department of Revenue is offering corporate income tax return filing extensions for businesses in counties affected by severe […]

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FL - Storm Extensions Offered

FL - Credit for employing individuals with unique abilities discussed

Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]

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FL - Credit for employing individuals with unique abilities discussed

FL - Indexed tax rate on asphalt for 2024-2025 announced

Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]

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FL - Indexed tax rate on asphalt for 2024-2025 announced

IRS Tightens Scrutiny on Employee Retention Credit Claims, IR-2024-169

The IRS has announced plans to deny tens of thousands of high-risk Employee Retention Credit (ERC) claims while beginning to process lower-risk claims. The agency’s review has […]

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IRS Tightens Scrutiny on Employee Retention Credit Claims, IR-2024-169

Seniors Warned of Rising Impersonation Scams, IR-2024-164

The IRS has issued a warning about the increasing threat of impersonation scams targeting seniors. These scams involve fraudsters posing as government officials, including IRS agents, […]

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Seniors Warned of Rising Impersonation Scams, IR-2024-164

Clean Hydrogen Credit Inflation Factors and Applicable Amounts for 2023 and 2024 Released, Notice 2024-45

The IRS released the inflation adjustment factors and the resulting applicable amounts for the clean hydrogen production credit for 2023 and 2024. For 2023, the inflation adjustment factor is one, so the inflation adjusted applicable amounts are the same as those in Code Sec. 45V(b). Thus, the applicable amounts for a […]

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Clean Hydrogen Credit Inflation Factors and Applicable Amounts for 2023 and 2024 Released, Notice 2024-45

Inflation Adjusted Credit Rate for Carbon Dioxide Sequestration Released, Notice 2024-39

The IRS has released the inflation adjustment factor for the credit for carbn dioxide (CO2) sequestration under Code Sec. 45Q for 2024. The inflation adjustment factor is 1.3877, and the credit is $27.75 per metric ton […]

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Inflation Adjusted Credit Rate for Carbon Dioxide Sequestration Released, Notice 2024-39

United States-Russia Tax Treaty To Be Suspended, Announcement 2024-26

The United States has provided formal notice to the Russian Federation on June 17, 2024, to confirm the suspension of the operation […]

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United States-Russia Tax Treaty To Be Suspended, Announcement 2024-26

IRS Highlights Home Energy Credits for Taxpayers, IR-2024-137

The IRS has advised taxpayers that making specific energy-efficient updates to their homes could qualify them for home energy credits. This guidance comes under the expanded provisions of […]

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IRS Highlights Home Energy Credits for Taxpayers, IR-2024-137