Tax Alerts

IRS Optimizing Service and Strengthening Enforcement, IR-2023-126

The IRS delivered dramatically improved service in 2023 filing season and continues to build on this progress by focusing on critical work across the agency in achieving world class service strengthening enforcement against high-income individuals who do not pay taxes owed, and modernizing core technology infrastructure to enable better service and improve data security. The IRS has has cut phone wait times significantly and has digitized 80 times more returns than in the past year with the adoption of new scanning technology. Further, it has cleared the backlog of unprocessed individual tax returns of the past year without any errors and launched two new digital tools, and enabled a new direct-deposit refund option for taxpayers with amended returns. The IRS has been focused on optimizing the means in which taxpayers are able to seamlessly interact with the agency in the ways that work best for them on the phone, in-person and online, in addition to expanding in-person service and meeting taxpayers where they are, particularly those in underserved and rural communities.

The IRS has been working to ensure hold high-income filers pay the taxes they owe. Prior to the Inflation Reduction Act, more than a decade of budget cuts prevented IRS from keeping pace with the increasingly complicated set of tools that the wealthiest taxpayers use to hide their income and evade paying their share. Further, IRS has been modernizing decades-old technology to drive the agency’s efforts to provide world class customer service and protect taxpayers’ data. For more details about the IRS Strategic Operating Plan, visit the IRS website.

FL - Guidance issued on catastrophic event property damage

Florida provides guidance on catastrophic event property damage for property tax purposes. Topics discussed include the payment of property taxes, […]

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FL - Guidance issued on catastrophic event property damage

FL - Tax relief provided for taxpayers affected by Hurricane Idalia

In response to Hurricane Idalia, eligible taxpayers that file Florida corporate income tax returns with original due dates or extended […]

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FL - Tax relief provided for taxpayers affected by Hurricane Idalia

IRS Warns About ESOP Compliance Issues, IR-2023-144

As part of ensuring high income taxpayers pay what they owe, the IRS warned businesses and tax professionals to be alert to […]

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IRS Warns About ESOP Compliance Issues, IR-2023-144

Rates Used in Computing Special Use Value Issued, Rev. Rul. 2023-15

The 2023 interest rates to be used in computing the special use value of farm real property for which an election is made under Code Sec. 2032A were issued by the IRS. In the […]

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Rates Used in Computing Special Use Value Issued, Rev. Rul. 2023-15

Taxpayers Reminded of Identity Protection PINs' Importance, IR-2023-134

The IRS has reminded taxpayers about the IRS Identity Protection PIN opt in program to help protect people against tax-related identity theft. “The Identity Protection (IP) PIN is […]

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Taxpayers Reminded of Identity Protection PINs' Importance, IR-2023-134

Contractors Reminded of Expanded New Energy Efficient Homes Tax Credit, IR-2023-142

The IRS has reminded eligible contractors who build or substantially reconstruct qualified new energy efficient homes that they might qualify for a tax credit […]

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Contractors Reminded of Expanded New Energy Efficient Homes Tax Credit, IR-2023-142

IRS Reminds Educators About Expense Deductions in 2023, IR-2023-150

The IRS has reminded eligible educators that they will be able to deduct out of pocket classroom expenses upto $300 while filing their federal income tax returns next year. […]

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IRS Reminds Educators About Expense Deductions in 2023, IR-2023-150

FL - Guidance provided on 2023 tax holiday for tools used by skilled trade workers

Guidance is provided regarding the Florida sales tax holiday on tools commonly used by skilled trade workers, which is held […]

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FL - Guidance provided on 2023 tax holiday for tools used by skilled trade workers

FL - Highlands County tourist development tax rate hike announced

The Florida tourist development tax rate in Highlands County is increased from 4% to 5% effective August 1, 2023. Combined […]

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FL - Highlands County tourist development tax rate hike announced

IRS Reminds Employers of New Electronic Filing Requirements for Forms W-2, W-2c

The IRS has reminded employers that the new lower threshold for required electronic filing of information returns applies to tax year 2023 Forms W-2, Wage and Tax Statement, because they […]

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IRS Reminds Employers of New Electronic Filing Requirements for Forms W-2, W-2c