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 […]
Read MoreThe IRS has underscored the vital importance of selecting a tax professional carefully to safeguard personal and financial information. Taxpayers bear legal responsibility for their income tax return accuracy, regardless of the preparer. The IRS has provided a Directory of Federal Tax Return Preparers with Credentials and Select Qualifications and a dedicated IRS.gov page to guide individuals in Choosing a Tax Professional including selecting someone affiliated with a recognized national tax association. Also, the IRS has warned against unscrupulous tax return preparers, highlighting red flags such as the absence of a signature on the tax return. The IRS has advised taxpayers to avoid such unethical practices and select a tax professional with a valid Preparer Tax Identification Numberfor added security.
The IRS has requested taxpayers to:
Finally, taxpayers are expected to report preparer misconduct to the IRS by utilizing Form 14157, Complaint: Tax Return Preparer. In cases where taxpayers suspect a preparer filed or altered their tax return without consent, they should file Form 14157-A, Tax Return Preparer Fraud or Misconduct Affidavit.
Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]
Read MoreThe Florida Department of Revenue is offering corporate income tax return filing extensions for businesses in counties affected by severe […]
Read MoreFlorida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
Read MoreFlorida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
Read MoreThe 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 […]
Read MoreThe 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, […]
Read MoreThe 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 […]
Read MoreThe 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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