IRS Allocates Unused Low-Income Housing Credits, Rev. Proc. 2024-41
The IRS has published the amounts of unused housing credit carryovers allocated to qualified states under Code Sec. 42(h)(3)(D) for calendar year […]
Read MoreIn recognition of National Hurricane Preparedness Week and National Wildfire Awareness month, the IRS reminded taxpayers to have a year round complete emergency preparedness plan to protect personal financial and tax information during disasters. Taxpayers were advised to place important original documents in a waterproof container in a safe space. Additionally, taxpayers are advised to store copies of such important documents in a secure secondary location. Further, taxpayers can make lists of belongings by referring to Publication 584, Casualty, Disaster, and Theft Loss Workbook (Personal-Use Property). Meanwhile, taxpayers who have lost some or all their records during a disaster should visit IRS’s reconstructing records webpage as a first step.
The IRS may postpone certain deadlines for taxpayers who reside in disaster affected areas. The IRS Disaster relief page provides details on the states and counties that have been issued such relief. Further, taxpayers who do not reside or have a business in a covered disaster area but suffered impact from a disaster should call 866-562-5227 to find out if they qualify for disaster tax relief and to discuss other available options. Finally, those impacted by a disaster can contact the IRS at 866-562-5227 to ask their tax-related questions or visit disaster assistance website.
The IRS has published the amounts of unused housing credit carryovers allocated to qualified states under Code Sec. 42(h)(3)(D) for calendar year […]
Read MoreThe IRS implemented measure to avoid refund delays and enhanced taxpayer protection by accepting e-filed tax returns with dependents already […]
Read MoreThe IRS Advisory Council (IRSAC) released its 2024 annual report, offering recommendations on emerging and ongoing tax administration issues. As a […]
Read MoreThe IRS announced details for the second remedial amendment cycle (Cycle 2) for Code Sec. 403(b) pre-approved plans. The IRS also addressed […]
Read MoreThe IRS has published its latest Financial Report, providing insights into the Service’s current financial status and addressing key financial […]
Read MoreThe IRS has offered a checklist of reminders for taxpayers as they prepare to file their 2024 tax returns. Following […]
Read MoreAmendment 5 was approved by Florida voters in the November 5, 2024, general election for property tax purposes. This amendment: […]
Read MoreThe floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
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