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 […]
Read MoreThe IRS announced that it would issue information letters to Advance Child Tax Credit (APTC) recipients starting in December and to recipients of the third round of the Economic Impact Payments (EIPs) at the end of January. Using this information when preparing a tax return can reduce errors and delays in processing. The Service also urged taxpayers receiving these letters to make sure they hold onto them to assist them in preparing their 2021 federal tax returns in 2022. Taxpayers can use the CTC portal to check their payments.
The IRS will send Letter 6419, 2021 advance CTC, starting late December 2021 and continuing into January. The letter will include the total amount of ACTC payments taxpayers received in 2021 and the number of qualifying children used to calculate the advance payments. Taxpayers should keep this and any other IRS letters about ACTC payments with their tax records.
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 […]
Read MoreThe IRS implemented measure to avoid refund delays and enhanced taxpayer protection by accepting e-filed tax returns with dependents already […]
Read MoreThe IRS Advisory Council (IRSAC) released its 2024 annual report, offering recommendations on emerging and ongoing tax administration issues. As a […]
Read MoreThe IRS announced details for the second remedial amendment cycle (Cycle 2) for Code Sec. 403(b) pre-approved plans. The IRS also addressed […]
Read MoreThe IRS has published its latest Financial Report, providing insights into the Service’s current financial status and addressing key financial […]
Read MoreThe IRS has offered a checklist of reminders for taxpayers as they prepare to file their 2024 tax returns. Following […]
Read MoreAmendment 5 was approved by Florida voters in the November 5, 2024, general election for property tax purposes. This amendment: […]
Read MoreThe floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
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