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 MoreThe Internal Revenue Service announced that it has unintentionally made certain data collected from Form 990-T available for bulk download through its Tax Exempt Organization Search tool.
In a September 2, 2022, statement posted to its web site, the agency said it took steps to address the situation, including removing the data with the intent of replacing the data files with the correct versions that are supposed to be publicly available.
The IRS “will be working with groups that routinely use the files to remove the erroneous files and replace them with the correct versions as they become available,” the agency said in the posted statement, adding that it will “contact all impacted filers in the coming weeks.”
Form 990-T is the business tax return used by tax-exempt entities to report and pay income tax that is generated from certain investments as well as income generated from activities not related to their exempt purpose. The agency is generally required to disclose the information for these 501(c)(3) organizations, but the data made available included information on a subset of non-501(c)(3) organizations which are not subject to a public disclosure requirement.
The IRS said the data included in the release does not include Social Security numbers, detailed account-holder information or individual tax returns, although in some cases there was a release of individual names and business contact information.
Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]
Read MoreThe Florida Department of Revenue is offering corporate income tax return filing extensions for businesses in counties affected by severe […]
Read MoreFlorida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
Read MoreFlorida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
Read MoreThe 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 MoreThe 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 MoreThe 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 MoreThe 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 […]
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