FL - Tax relief for Florida taxpayers impacted by severe storms, tornadoes, and flooding discussed
Florida will follow the corporate income tax relief granted by the IRS regarding tax return due dates for taxpayers affected […]
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The IRS has released frequently asked questions (FAQs) detailing reporting directions for certain passthrough entities and taxpayers partnership interests reporting held in connection with the performance of services, known as “carried interests”. The FAQs provide sample worksheets required by certain passthrough entities and taxpayers for reporting carried interests, partnership interests held in relation with the performance of services for tax returns, filed after December 31, 2021 in which a passthrough entity applies the final regulations.
The FAQs explain additional instructions for certain passthrough entities and taxpayers who must provide similar information and disclose whether the information was determined under the proposed regulations or another method for tax returns filed after December 31, 2021 for a tax year starting before January 19, 2021, though they are not required to file the sample worksheets. The FAQs aim to guide both Passthrough Entity filing and reporting requirements and Owner Taxpayer filing requirements following Department of the Treasury regulations revised in T.D. 9945.
Florida will follow the corporate income tax relief granted by the IRS regarding tax return due dates for taxpayers affected […]
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The Florida Legislature passed legislation that would update the IRC conformity tie-in date for determining corporate income tax liability. H.B. […]
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Florida increased the cap on the corporate income tax community contributions credit from $14.5 to $25 million for the 2023-2024 […]
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The IRS, Department of Labor (DOL) and Department of Health and Human Services (HHS) jointly issued frequently asked questions (FAQs), Part 58 and Part […]
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The IRS has released a new Audit Technique Guide (ATG) designed to provide assistance in auditing individuals in various roles in the entertainment industry. The auditor must develop issues in relation to […]
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The IRS has released the applicable terminal charge and the Standard Industry Fare Level (SIFL) mileage rate for determining the value of noncommercial flights on employer-provided […]
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The IRS today informed taxpayers and practitioners that it has revised Form 3115, Application for Change in Accounting Method, and its instructions. […]
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The IRS has issued frequently asked questions (FAQs) to provide guidance for victims who have received state compensation payments for forced, involuntary, or coerced sterilization. Some states have enacted […]
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The Internal Revenue Service said it delivered “significantly improvedcustomerservice“ during the 2023 tax filing season and cited funds made available to it from the Inflation Reduction Act as the key […]
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The IRS has provided indexing adjustments for the applicable dollar amounts under Code Sec. 4980H(c)(1) and (b)(1). These indexed amounts are used to calculate the employer shared responsibility payments (ESRP). This guidance is is effective […]
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