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 […]
Read MoreThe IRS has informed taxpayers who make energy improvements to their existing residence including solar, wind, geothermal, fuel cells or battery storage may be eligible for expanded home energy tax credits as stipulated by the Inflation Reduction Act of 2022. The Residential Clean Energy Credit equals 30-percent of the costs of new, qualified clean energy property for a home in the United States installed anytime from 2022 through 2033. The taxpayers can claim their Energy Efficient Home Improvement Credit and the Residential Clean Energy Credit for the year the qualifying expenditures are made by filing Form 5695.
The IRS advised taxpayers to keep good records of purchases and expenses during the time the improvements are made. All requirements and qualifications for energy efficient equipment is available in the IRS website. Finally, taxpayers can compare the credit amounts for tax year 2022 and tax year 2023 on Energy.gov Credit Comparison Chart.
Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]
Read MoreThe Florida Department of Revenue is offering corporate income tax return filing extensions for businesses in counties affected by severe […]
Read MoreFlorida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
Read MoreFlorida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
Read MoreThe 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, […]
Read MoreThe 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 […]
Read MoreThe 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 […]
Read MoreThe 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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