Tax Alerts

IRS Provides Helpful Tax Information for Military Personnel, FS-2023-14

The IRS encouraged members of the military and their families to learn more about the special tax benefits available to them. MilTax, a Department of Defense program generally offers free return preparation and e-filing software for all military members and some veterans, with no income limit. This includes federal tax returns and up to three state income tax returns for each qualified user. Additionally, many military bases offer free tax preparation and filing assistance during the tax filing season. Some also offer free tax help after the April tax filing deadline.

Further, the IRS provided a list of several of the key benefits mentioned in IRS Publication 3, Armed Forces’ Tax Guide. This includes Combat Pay, which is partially or fully tax-free. Additionally, members of the military, such as those who serve in a combat zone or are serving in contingency operations outside the U.S., can postpone most tax deadlines. Low and moderate income service members who receive nontaxable combat pay can use a special computation method that may boost the Earned Income Tax Credit (EITC), meaning they may owe less tax or get a larger refund. Moreover, dependent care assistance programs for military personnel are excludable benefits and not included in the military member’s income. Members of the armed forces on active duty may also be eligible to deduct unreimbursed moving expenses if their move was due to a military order and permanent change of station.

Additionally, both spouses normally must sign a joint income tax return, but if one spouse is absent due to certain military duties or conditions, the other spouse may be able to sign for him or her. As a reminder, the IRS has a special page on IRS.gov with Tax Information for Members of the U.S. armed forces.

FL - Gas and Sulfur production tax rates for 2024-2025 announced

Florida has issued the severance tax rates for the production of gas and sulfur effective July 1, 2024, through June […]

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FL - Gas and Sulfur production tax rates for 2024-2025 announced

No Further Funding Cuts For IRS In FY24

Other than a planned repurposing of Inflation Reduction Act supplemental funding, the Internal Revenue Service saw no other cuts as the President signed off on the resolution […]

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No Further Funding Cuts For IRS In FY24

IRS Criminal Investigation Releases COVID Fraud Conviction Statistics, IR-2024-83

The IRS released statistics that showed 1,644 tax and money-laundering cases related to COVID fraud, totaling $9 billion investigated by the Criminal Investigation (CI). CI is the law enforcement […]

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IRS Criminal Investigation Releases COVID Fraud Conviction Statistics, IR-2024-83

IRS Updates FAQ on Commercial Clean Vehicle Credits (FS-2024-14; IR-2024-111)

The IRS updated frequently asked questions (FAQ) on New, Previously Owned and Qualified Commercial Clean Vehicle Credits. These FAQs provide guidance on how the Inflation Reduction […]

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IRS Updates FAQ on Commercial Clean Vehicle Credits (FS-2024-14; IR-2024-111)

2024 Foreign Housing Expense Amounts Released, Notice 2024-31

KPMG TaxNewsFlash – United States March 20, 2024 The IRS today released Notice 2024-31 [PDF 156 KB] providing the adjustments to the limitation on housing expenses, under […]

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2024 Foreign Housing Expense Amounts Released, Notice 2024-31

Energy Efficient Property and Improvement Rebate Guidance Issued, Announcement 2024-19; IR-2024-97

The IRS has issued an announcement that addresses the federal income tax treatment of amounts paid for the purchase of energy efficient property and improvements. Taxpayers who […]

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Energy Efficient Property and Improvement Rebate Guidance Issued, Announcement 2024-19; IR-2024-97

IRS Releases Major Filing Numbers Showing Service Improvements, IR-2024-109

Reflecting on the 2024 tax filing season, the IRS released major filing numbers for the season. The agency highlighted a variety of improvements that dramatically expanded service for millions of taxpayers during […]

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IRS Releases Major Filing Numbers Showing Service Improvements, IR-2024-109

IRS Wraps Up Dirty Dozen, Warns of Bogus Tax Avoidance Strategies (IR-2024-105)

The IRS has wrapped up the 2024 Dirty Dozen campaign, with a warning to taxpayers to beware of promoters selling bogus tax avoidance strategies. Promoters have been peddling elaborate bogus schemes to […]

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IRS Wraps Up Dirty Dozen, Warns of Bogus Tax Avoidance Strategies (IR-2024-105)

FL - Tax rate on commercial rentals reduced from 4.5% to 2% effective june 1, 2024

Effective June 1, 2024, the Florida sales tax rate imposed on the total rent charged for renting, leasing, letting, or […]

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FL - Tax rate on commercial rentals reduced from 4.5% to 2% effective june 1, 2024

FL - Solid mineral tax rates for 2024 announced

Florida has released the severance tax rates on the production of heavy minerals and other solid minerals for 2024. From […]

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FL - Solid mineral tax rates for 2024 announced