Tax Alerts

IRS Issues FAQs on Child Tax Credit for 2021

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.

2025 Standard Mileage Rates Released (Notice 2025-5; IR-2024-312)

The IRS released the optional standard mileage rates for 2025. Most taxpayers may use these rates to compute deductible costs […]

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2025 Standard Mileage Rates Released (Notice 2025-5; IR-2024-312)

IRS Introduces New Measures to Combat Tax Scams During 2025 Filing Season (IR-2025-12)

The IRS, in partnership with the Coalition Against Scam and Scheme Threats (CASST), has unveiled new initiatives for the 2025 […]

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IRS Introduces New Measures to Combat Tax Scams During 2025 Filing Season (IR-2025-12)

IRS Reminds Taxpayers of Disaster Deadlines (IR-2025-1)

The IRS reminded disaster-area taxpayers that they have until February 3, 2025, to file their 2023 returns, in the entire […]

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IRS Reminds Taxpayers of Disaster Deadlines (IR-2025-1)

IRS to Issue Automatic Recovery Rebate Credit Payments for 2021 Tax Year (IR-2024-314)

The IRS has announced plans to issue automatic payments to eligible individuals who failed to claim the Recovery Rebate Credit on their […]

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IRS to Issue Automatic Recovery Rebate Credit Payments for 2021 Tax Year (IR-2024-314)

FL - Motor vehicle sales tax rates by state issued

Florida has issued motor vehicle sales tax rates by state as of January 15, 2025. Florida law allows a partial […]

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FL - Motor vehicle sales tax rates by state issued

FL - 2025 governmental leasehold intangible tax valuation factor table released

For purposes of calculating the 2025 intangible personal property tax on governmental leaseholds, the Florida Department of Revenue has issued […]

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FL - 2025 governmental leasehold intangible tax valuation factor table released

Security Summit Urges Updating Digital Security to Prevent Identity Theft, IR-2024-306

The IRS, along with Security Summit partners, urged businesses and individual taxpayers to update their security measures and practices to protect against […]

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Security Summit Urges Updating Digital Security to Prevent Identity Theft, IR-2024-306

2024 Required Amendments List Issued, Notice 2024-82

The IRS has issued its 2024 Required Amendments List (2024 RA List) for individually designed employee retirement plans. RA Lists […]

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2024 Required Amendments List Issued, Notice 2024-82

IRS and Security Summit Recommend Joining IP PIN Program, IR-2024-303

The IRS and the Security Summit partners encouraged taxpayers to join the Identity Protection Personal Identification Number (IP PIN) program at […]

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IRS and Security Summit Recommend Joining IP PIN Program, IR-2024-303

IRS Warns Taxpayers to Avoid Promoters of Fraudulent Charitable Contribution Tax Schemes, IR-2024-304

The IRS warned taxpayers to avoid promoters of fraudulent tax schemes involving donations of ownership interests in closely held businesses, […]

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IRS Warns Taxpayers to Avoid Promoters of Fraudulent Charitable Contribution Tax Schemes, IR-2024-304