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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The IRS has issued frequently asked questions (FAQs) related to the Child Tax Credit (CTC) for the 2021 filing season. The American Rescue Plan Act of 2021 expanded the CTC for tax year 2021 only. These CTC FAQs provide information helpful for taxpayers preparing their 2021 tax returns. Recipients of advance CTC payments will need to compare the amount of payments received during 2021 with the amount of the CTC that can be claimed on their 2021 tax return.
Taxpayers who received less than the amount they are eligible for can claim a credit for the remaining amount. Taxpayers who received more than the amount they are eligible for may need to repay some or all of the excess amount. The IRS sent Letter 6419 in January 2022 to provide the total amount of advance CTC payments that were received in 2021. The IRS urges taxpayers receiving these letters to ensure they hold onto them to assist them in preparing their 2021 tax returns.
Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]
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The Florida Department of Revenue is offering corporate income tax return filing extensions for businesses in counties affected by severe […]
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Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
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Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
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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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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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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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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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