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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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
Florida has released the severance tax rates on the production of heavy minerals and other solid minerals for 2024. From […]
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The IRS has provided a waiver for any individual who failed to meet the foreign earned income or deduction eligibility requirements of Code Sec. 911(d)(1) because adverse conditions in a foreign country […]
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The IRS announced that compliance efforts around erroneous Employee Retention Credit (ERC) claims have topped more than $1 billion within six months. “We are encouraged by the results so far of […]
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The IRS has announced the federal income tax treatment of certain lead service line replacement programs for residential property owners. It is required by the federal and many […]
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The IRS has released guidance to help taxpayers understand what to do with Form 1099-K. Responding to feedback from taxpayers, tax professionals and payment processors, […]
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The Treasury Department‘s Office of Payment Integrity (OPI) deployed Artificial Intelligence(AI)-based fraud detection at the onset of Fiscal Year 2023, resulting in the recovery of over $375 million. […]
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The Florida Senate approved a tax bill that changes the corporate income tax IRC conformity tie-in date. H.B. 7073, as […]
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Florida House of Representatives passed a bill with a provision that modifies the IRC conformity tie-in date for determining corporate […]
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The Financial Crimes Enforcement Network (FinCEN) issued guidance on inflation adjustments to its civil monetary penalties as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990 (the Act), as amended. This rule […]
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