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 was aware that some payments made for 2021 tax returns were incorrectly applied to joint taxpayer accounts. These taxpayers received erroneous balance due notices (CP-14 notices) or notices showing the incorrect amount. These payments were made by the spouse (second taxpayer listed) on a joint return submitted through their Online Account. Some other taxpayers may also be affected outside of this group.
Taxpayers who received a notice but paid in a timely manner should not respond to the notice at this time. The IRS will provide an update as soon as possible. Taxpayers who partly paid reported balances due on their 2021 joint return, should pay the balance or follow instructions on the notice. Taxpayers could confirm previous payments by checking Online Account under the Social Security number that made the payment. Any assessed penalties and interest will be automatically adjusted when payments were applied correctly.
Programming affected certain returns. It did not move the payment to the married filing jointly account when the payment was (1) not electronic and made by the secondary spouse; and (2) electronic, made by the secondary spouse and posted before the joint return indicator was present to identify the primary taxpayer.
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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