Tax Alerts

IRS Announces New Sign-In Process for Form 990-N Filers

The IRS has announced that beginning August 2022, smaller charities that are eligible and choose to file Form 990-N, Electronic Notice for Tax-Exempt Organizations (e-Postcard), must sign into the IRS modernized authentication platform using either their active IRS username or create an account with ID.me, the current IRS credential service provider. Further, filers have three options when accessing the Form 990-N submission page. They can sign in with their active IRS username, sign in with their existing ID.me account or create a new ID.me account if they don’t have an active IRS username credential.

Additionally, the IRS informed filers that ID.me account creation requires an email address and multifactor authentication. Filers who have an existing IRS username and register for an ID.me account must use the same email address. Further, filers can find filing instructions for Form 990-N here. Finally, the IRS informed filers that the filing process has not changed for organizations that file Form 990, Return of Organization Exempt from Income Tax, or Form 990-EZ, Short Form Return of Organization Exempt From Income Tax.

FL - Solid mineral tax rates for 2024 announced

Florida has released the severance tax rates on the production of heavy minerals and other solid minerals for 2024. From […]

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FL - Solid mineral tax rates for 2024 announced

IRS Provides Waiver for Taxpayers Failing to Meet Foreign Earned Income Requirements, Rev. Proc. 2024-17

The IRS has provided a waiver for any individual who failed to meet the foreign earned income or deduction eligibility requirements of Code Sec. 911(d)(1) because adverse conditions in a foreign country […]

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IRS Provides Waiver for Taxpayers Failing to Meet Foreign Earned Income Requirements, Rev. Proc. 2024-17

ERC Compliance Efforts Top $1 Billion in Six Months, IR-2024-78

The IRS announced that compliance efforts around erroneous Employee Retention Credit (ERC) claims have topped more than $1 billion within six months. “We are encouraged by the results so far of […]

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ERC Compliance Efforts Top $1 Billion in Six Months, IR-2024-78

IRS Provides Guidance on Replacement of Certain Lead Service Lines, Announcement 2024-10

The IRS has announced the federal income tax treatment of certain lead service line replacement programs for residential property owners. It is required by the federal and many […]

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IRS Provides Guidance on Replacement of Certain Lead Service Lines, Announcement 2024-10

IRS Releases Guidance on Form 1099-K, FS-2024-7; IR-2024-5

The IRS has released guidance to help taxpayers understand what to do with Form 1099-K. Responding to feedback from taxpayers, tax professionals and payment processors, […]

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IRS Releases Guidance on Form 1099-K, FS-2024-7; IR-2024-5

Treasury Department's AI-Powered Fraud Detection Yields $375 Million Recovery

The Treasury Department‘s Office of Payment Integrity (OPI) deployed Artificial Intelligence(AI)-based fraud detection at the onset of Fiscal Year 2023, resulting in the recovery of over $375 million. […]

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Treasury Department's AI-Powered Fraud Detection Yields $375 Million Recovery

FL - Senate approves IRC conformity changes

The Florida Senate approved a tax bill that changes the corporate income tax IRC conformity tie-in date. H.B. 7073, as […]

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FL - Senate approves IRC conformity changes

FL - House passes bill that modifies IRC conformity date

Florida House of Representatives passed a bill with a provision that modifies the IRC conformity tie-in date for determining corporate […]

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FL - House passes bill that modifies IRC conformity date

FinCEN Issues Guidance on Inflation Adjustments to Civil Monetary Penalties

The Financial Crimes Enforcement Network (FinCEN) issued guidance on inflation adjustments to its civil monetary penalties as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990 (the Act), as amended. This rule […]

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FinCEN Issues Guidance on Inflation Adjustments to Civil Monetary Penalties

FL - IRC conformity update, disability employment credit proposed

Legislation introduced in the Florida House of Representatives proposes to: update the IRC conformity tie-in date for determining corporate income […]

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FL - IRC conformity update, disability employment credit proposed