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 MoreIn light of the end of the COVID-19 public health emergency, the Treasury Department and the IRS have released guidance modifying prior guidance regarding benefits related to testing for and treatment of COVID-19 that can be provided by a high deductible health plan (HDHP). Specifically, the relief described in Notice 2020-15, which provides that a health plan will not fail to be a HDHP if it provides benefits related to the testing and treatment of COVID-19 prior to the satisfaction of a deductible, applies only with respect to plan years ending on or before December 31, 2024.
For subsequent plan years, a high deductible health plan (HDHP) is not permitted to provide health benefits associated with testing for and treatment of COVID-19 without a deductible, or with a deductible below the minimum deductible (for self-only or family coverage) for an HDHP.
Generally, an HDHP is not permitted to provide benefits for any year until the minimum deductible for that year is satisfied. However, an HDHP may provide preventive care benefits without a deductible, or with a deductible below the minimum annual deductible. The preventive care safe harbor described in Notice 2004-23, I.R.B. 2004-15, 725 includes screening services but generally not any service or benefit intended to treat an existing illness, injury, or condition, such as the flu. The guidance clarifies that the preventive care safe harbor therefore does not include screening for COVID-19. If COVID-19 testing were to be recommended with an “A” or “B” rating by the USPSTF, then that testing would be considered preventive care under Code Sec. 223(c)(2)(C).
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 […]
Read More