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 - Gas and Sulfur production tax rates for 2024-2025 announced

Florida has issued the severance tax rates for the production of gas and sulfur effective July 1, 2024, through June […]

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FL - Gas and Sulfur production tax rates for 2024-2025 announced

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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No Further Funding Cuts For IRS In FY24

2024 Foreign Housing Expense Amounts Released, Notice 2024-31

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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2024 Foreign Housing Expense Amounts Released, Notice 2024-31

Energy Efficient Property and Improvement Rebate Guidance Issued, Announcement 2024-19; IR-2024-97

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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Energy Efficient Property and Improvement Rebate Guidance Issued, Announcement 2024-19; IR-2024-97

IRS Criminal Investigation Releases COVID Fraud Conviction Statistics, IR-2024-83

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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IRS Criminal Investigation Releases COVID Fraud Conviction Statistics, IR-2024-83

IRS Updates FAQ on Commercial Clean Vehicle Credits (FS-2024-14; IR-2024-111)

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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IRS Updates FAQ on Commercial Clean Vehicle Credits (FS-2024-14; IR-2024-111)

IRS Releases Major Filing Numbers Showing Service Improvements, IR-2024-109

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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IRS Releases Major Filing Numbers Showing Service Improvements, IR-2024-109

IRS Wraps Up Dirty Dozen, Warns of Bogus Tax Avoidance Strategies (IR-2024-105)

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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IRS Wraps Up Dirty Dozen, Warns of Bogus Tax Avoidance Strategies (IR-2024-105)

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 […]

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FL - Tax rate on commercial rentals reduced from 4.5% to 2% effective june 1, 2024

FL - Solid mineral tax rates for 2024 announced

Florida has released the severance tax rates on the production of heavy minerals and other solid minerals for 2024. From […]

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FL - Solid mineral tax rates for 2024 announced