2025 Standard Mileage Rates Released (Notice 2025-5; IR-2024-312)
The IRS released the optional standard mileage rates for 2025. Most taxpayers may use these rates to compute deductible costs […]
Read MoreFlorida issued corporate income tax guidance on the adoption of the 2023 Internal Revenue Code (IRC). As a result, Florida will follow the computation of federal taxable income. The publication states, among other things:
The annual credit cap for the community contribution tax credit is increased to $25 million, and the annual credit cap for the contaminated site rehabilitation tax credit is increased to $35 million beginning with the 2023-24 state fiscal year.
The internship tax credit program is renamed the experiential learning tax credit program, and the program’s availability is expanded.
The new live local program tax credit is available for tax years beginning on or after January 1, 2023.
Credit for manufacturing of human breast milk-derived human milk fortifiers is available for taxable years that begin within the 2023 and 2024 calendar years.
The residential graywater systems tax credit is available for tax years beginning on or after January 1, 2024.
Tax Information Publication, No. 23C01-04, Florida Department of Revenue, July 28, 2023, released September 2023
The IRS released the optional standard mileage rates for 2025. Most taxpayers may use these rates to compute deductible costs […]
Read MoreThe IRS, in partnership with the Coalition Against Scam and Scheme Threats (CASST), has unveiled new initiatives for the 2025 […]
Read MoreThe IRS reminded disaster-area taxpayers that they have until February 3, 2025, to file their 2023 returns, in the entire […]
Read MoreThe IRS has announced plans to issue automatic payments to eligible individuals who failed to claim the Recovery Rebate Credit on their […]
Read MoreFlorida has issued motor vehicle sales tax rates by state as of January 15, 2025. Florida law allows a partial […]
Read MoreFor purposes of calculating the 2025 intangible personal property tax on governmental leaseholds, the Florida Department of Revenue has issued […]
Read MoreThe IRS, along with Security Summit partners, urged businesses and individual taxpayers to update their security measures and practices to protect against […]
Read MoreThe IRS has issued its 2024 Required Amendments List (2024 RA List) for individually designed employee retirement plans. RA Lists […]
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