IRS Allocates Unused Low-Income Housing Credits, Rev. Proc. 2024-41
The IRS has published the amounts of unused housing credit carryovers allocated to qualified states under Code Sec. 42(h)(3)(D) for calendar year […]
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The Florida tourist development tax rate in Highlands County is increased from 4% to 5% effective August 1, 2023.
Combined Tax Rate
Beginning August 1, 2023, dealers must collect a combined tax rate of 12.5% on transient rental transactions in Highlands County. The combined tax rate of 12.5% is composed of:
the 6% state sales tax;
the 5% tourist development tax;
the 1% local government infrastructure surtax; and
the 0.5% school capital outlay surtax.
Taxpayers should report the Highlands County tourist development tax along with sales tax on Line D of the Florida Sales and Use Tax Return (Form DR-15).
Adoption of Ordinance
The Highlands County Board of County Commissioners adopted Ordinance No. 22-23-24 increasing the tourist development tax rate. Tax Information Publication, No. 23A01-18, Florida Department of Revenue, July 21, 2023
The IRS has published the amounts of unused housing credit carryovers allocated to qualified states under Code Sec. 42(h)(3)(D) for calendar year […]
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The IRS implemented measure to avoid refund delays and enhanced taxpayer protection by accepting e-filed tax returns with dependents already […]
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The IRS Advisory Council (IRSAC) released its 2024 annual report, offering recommendations on emerging and ongoing tax administration issues. As a […]
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The IRS announced details for the second remedial amendment cycle (Cycle 2) for Code Sec. 403(b) pre-approved plans. The IRS also addressed […]
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The IRS has published its latest Financial Report, providing insights into the Service’s current financial status and addressing key financial […]
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The IRS has offered a checklist of reminders for taxpayers as they prepare to file their 2024 tax returns. Following […]
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Amendment 5 was approved by Florida voters in the November 5, 2024, general election for property tax purposes. This amendment: […]
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The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
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