Tax Alerts

IRS Cautions Taxpayers of Summer Email, Text Scams Involving EIPs, Tax Refunds, IR-2023-131

The IRS has cautioned taxpayers to be aware of a surge of tax scams as identity thieves continue pounding out a barrage of email and text messages promising tax refunds or offers to help ‘fix’ tax problems. The special Summer news release series is aimed at raising awareness among tax professionals on ways to protect themselves – and their clients – against identity theft. The IRS has highlighted some of the most recent wave of activity involving tax scammers; they are:

  • the Economic Impact Payment (EIP) scheme : these promise a third round of economic impact payment;
  • false Employee Retention Credit (ERC) claims : urge people to improperly claim their ERC with fake offers;
  • claim your tax refund scam : these proclaim people should claim their tax refund online;
  • the “Help You Fix-It” text scheme : identity thieves send messages offering to resolve the taxpayer’s problem if they click a link; and
  • the “delivery service”scam: involves a mailing that arrives from a delivery service claiming to be from the IRS.

The IRS has reminded taxpayers to look for telltale signs such as obvious grammatical errors, misspellings and factual inaccuracies. Further, the IRS cautioned taxpayers to be wary of clicking on anonymous links and sharing valuable personal information and financial information. However, if taxpayers are victims of any such tax scams then they should report the email to phishing@irs.gov. In addition, they should also file a complaint with Treasury Inspector General for Tax Administration and visit the IRS website.

FL - Guidance issued on affidavit required to claim exemption for boats sold to nonresident purchasers

Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]

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FL - Guidance issued on affidavit required to claim exemption for boats sold to nonresident purchasers

FL - Storm Extensions Offered

The Florida Department of Revenue is offering corporate income tax return filing extensions for businesses in counties affected by severe […]

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FL - Storm Extensions Offered

FL - Credit for employing individuals with unique abilities discussed

Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]

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FL - Credit for employing individuals with unique abilities discussed

FL - Indexed tax rate on asphalt for 2024-2025 announced

Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]

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FL - Indexed tax rate on asphalt for 2024-2025 announced

IRS Tightens Scrutiny on Employee Retention Credit Claims, IR-2024-169

The IRS has announced plans to deny tens of thousands of high-risk Employee Retention Credit (ERC) claims while beginning to process lower-risk claims. The agency’s review has […]

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IRS Tightens Scrutiny on Employee Retention Credit Claims, IR-2024-169

Seniors Warned of Rising Impersonation Scams, IR-2024-164

The IRS has issued a warning about the increasing threat of impersonation scams targeting seniors. These scams involve fraudsters posing as government officials, including IRS agents, […]

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Seniors Warned of Rising Impersonation Scams, IR-2024-164

Clean Hydrogen Credit Inflation Factors and Applicable Amounts for 2023 and 2024 Released, Notice 2024-45

The IRS released the inflation adjustment factors and the resulting applicable amounts for the clean hydrogen production credit for 2023 and 2024. For 2023, the inflation adjustment factor is one, so the inflation adjusted applicable amounts are the same as those in Code Sec. 45V(b). Thus, the applicable amounts for a […]

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Clean Hydrogen Credit Inflation Factors and Applicable Amounts for 2023 and 2024 Released, Notice 2024-45

Inflation Adjusted Credit Rate for Carbon Dioxide Sequestration Released, Notice 2024-39

The IRS has released the inflation adjustment factor for the credit for carbn dioxide (CO2) sequestration under Code Sec. 45Q for 2024. The inflation adjustment factor is 1.3877, and the credit is $27.75 per metric ton […]

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Inflation Adjusted Credit Rate for Carbon Dioxide Sequestration Released, Notice 2024-39

United States-Russia Tax Treaty To Be Suspended, Announcement 2024-26

The United States has provided formal notice to the Russian Federation on June 17, 2024, to confirm the suspension of the operation […]

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United States-Russia Tax Treaty To Be Suspended, Announcement 2024-26

IRS Highlights Home Energy Credits for Taxpayers, IR-2024-137

The IRS has advised taxpayers that making specific energy-efficient updates to their homes could qualify them for home energy credits. This guidance comes under the expanded provisions of […]

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IRS Highlights Home Energy Credits for Taxpayers, IR-2024-137