FL - Tax relief for Florida taxpayers impacted by severe storms, tornadoes, and flooding discussed
Florida will follow the corporate income tax relief granted by the IRS regarding tax return due dates for taxpayers affected […]
Read MoreThe Financial Crimes Enforcement Network (FinCEN) announced a further extension of time for certain individuals to file a Report of Foreign Bank and Financial Accounts (FBAR) in light of ongoing questions regarding the filing requirement and its application to individuals with signature authority over, but no financial interest in, certain types of accounts. The filing due date is extended to April 15, 2024, for individuals whose filing due date for reporting signature authority was previously extended by FinCEN Notice 2021-1.
On March 10, 2016, FinCEN proposed to revise the regulations implementing the Bank Secrecy Act (BSA) regarding FBARs. One of the proposed amendments would expand and clarify the exemptions for certain U.S. persons with signature or other authority over foreign financial accounts. The proposed amendment seeks to address questions raised regarding the filing requirement and its application to the individuals with signature authority over, but no financial interest in, certain types of accounts as outlined in FinCEN Notice 2021-1.
This extension applies to the reporting of signature authority held during the 2022 calendar year, as well as all reporting deadlines extended by previous FinCEN Notices 2021-1, 2020-1, 2019-1, 2018-1, 2017-1, 2016-1, 2015-1, 2014-1, 2013-1, 2012-1, and 2012-2, along with Notices 2011-1 and 2011-2. For all other individuals with an FBAR filing obligation, the filing due date remains April 15, 2023.
Florida will follow the corporate income tax relief granted by the IRS regarding tax return due dates for taxpayers affected […]
Read MoreThe Florida Legislature passed legislation that would update the IRC conformity tie-in date for determining corporate income tax liability. H.B. […]
Read MoreFlorida increased the cap on the corporate income tax community contributions credit from $14.5 to $25 million for the 2023-2024 […]
Read MoreThe IRS, Department of Labor (DOL) and Department of Health and Human Services (HHS) jointly issued frequently asked questions (FAQs), Part 58 and Part […]
Read MoreThe IRS has released a new Audit Technique Guide (ATG) designed to provide assistance in auditing individuals in various roles in the entertainment industry. The auditor must develop issues in relation to […]
Read MoreThe IRS has released the applicable terminal charge and the Standard Industry Fare Level (SIFL) mileage rate for determining the value of noncommercial flights on employer-provided […]
Read MoreThe IRS today informed taxpayers and practitioners that it has revised Form 3115, Application for Change in Accounting Method, and its instructions. […]
Read MoreThe IRS has issued frequently asked questions (FAQs) to provide guidance for victims who have received state compensation payments for forced, involuntary, or coerced sterilization. Some states have enacted […]
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