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 More
The Internal Revenue Service said it delivered “significantly improvedcustomerservice“ during the 2023 tax filing season and cited funds made available to it from the Inflation Reduction Act as the key reason for it.
According to statistics released April 17, 2023, by the agency, the IRS achieved 87 percent level of service, two percentage points above the 85 percent target set by Department of the Treasury Secretary Janet Yellen and well above the 15 percent recorded in 2022.
Compared to 2022, the agency answered 2 million more calls and cut average wait times from 27 minutes to four minutes. It also served 100,000 more taxpayers in person and digitized 80 times more tax returns through the adoption of new scanning technology. The IRS also reports that 92 percent of taxpayer assistance centers (335) were open by early April this year.
The IRS also made it possible to respond to nine notices online and plan to allow for 72 more notices to come with an online response form.
By Gregory Twachtman, Washington News Editor
Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]
Read More
The Florida Department of Revenue is offering corporate income tax return filing extensions for businesses in counties affected by severe […]
Read More
Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
Read More
Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
Read More
The 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 More
The 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 More
The 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 More
The 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
