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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Starting in 2024, Form 5558 is no longer used to request an extension of time to file Form 5330, Return of Excise Taxes Related to Employee Benefit Plans. Instead, filers must use Form 8868, Application for Extension of Time To File an Exempt Organization Return or Excise Taxes Related to Employee Benefit Plans.
Form 5558 is still used to request an extension of time to file a Form 5500 series or Form 8955-SSA. The IRS had previously anticipated that Form 5558 could be filed electronically for the 2023 filing season. However, due to administrative issues involving the EFAST2 system, the IRS is postponing electronic filing of Form 5558 until January 1, 2025. Plan sponsors and administrators should continue to use a paper Form 5558 to request a one-time extension of time to file a Form 5500 series or Form 8955-SSA of up to 2� months after the normal due date.
Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]
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The Florida Department of Revenue is offering corporate income tax return filing extensions for businesses in counties affected by severe […]
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Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
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Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
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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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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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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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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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