FL - Guidance issued on catastrophic event property damage
Florida provides guidance on catastrophic event property damage for property tax purposes. Topics discussed include the payment of property taxes, […]
Read MoreThe 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.
Florida provides guidance on catastrophic event property damage for property tax purposes. Topics discussed include the payment of property taxes, […]
Read MoreIn response to Hurricane Idalia, eligible taxpayers that file Florida corporate income tax returns with original due dates or extended […]
Read MoreAs part of ensuring high income taxpayers pay what they owe, the IRS warned businesses and tax professionals to be alert to […]
Read MoreThe 2023 interest rates to be used in computing the special use value of farm real property for which an election is made under Code Sec. 2032A were issued by the IRS. In the […]
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Read MoreThe IRS has reminded eligible educators that they will be able to deduct out of pocket classroom expenses upto $300 while filing their federal income tax returns next year. […]
Read MoreGuidance is provided regarding the Florida sales tax holiday on tools commonly used by skilled trade workers, which is held […]
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