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 […]
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.
Florida has released the severance tax rates on the production of heavy minerals and other solid minerals for 2024. From […]
Read MoreThe 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 […]
Read MoreThe 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 […]
Read MoreThe 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 […]
Read MoreThe 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, […]
Read MoreThe 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. […]
Read MoreThe Florida Senate approved a tax bill that changes the corporate income tax IRC conformity tie-in date. H.B. 7073, as […]
Read MoreFlorida House of Representatives passed a bill with a provision that modifies the IRC conformity tie-in date for determining corporate […]
Read MoreThe 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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