IRS Offers Cybersecurity Tips, IR-2023-200
The IRS and Security Summit partners reminded taxpayers to remain vigilant against potential cybersecurity threats. As the National Cybersecurity Awareness Month is […]
Read MoreThe IRS has updated its real property foreclosure and construction industry Audit Technique Guides. An Audit Technique Guide focuses on developing highly trained examiners for particular market segments by presenting examination techniques, common and unique industry issues, business practices, industry terminology, and other information.
Real Property Foreclosures
The IRS has updated its Audit Technique Guide that provides guidance on tax consequences (primarily to individuals) for real estate property that is disposed of through foreclosure, short sale, deed in lieu of foreclosure, and abandonments. A discussion is also devoted to cancellation of debt income exclusions that are most commonly applicable to these types of dispositions and community property considerations.
The Real Estate Property Foreclosure and Cancellation of Debt Audit Technique Guide is available on the IRS website at https://www.irs.gov/pub/irs-pdf/p5550.pdf.
Construction Industry
The IRS has updated its Audit Technique Guide that provides guidance for examiners conducting audits in the construction industry, and information for taxpayers and practitioners associated with the construction industry. The Construction Industry Audit Technique Guide is available on the IRS website under the Businesses, Small Business/Self Employed category, at https://www.irs.gov/pub/irs-pdf/p5522.pdf.
The IRS and Security Summit partners reminded taxpayers to remain vigilant against potential cybersecurity threats. As the National Cybersecurity Awareness Month is […]
Read MoreThe IRS has issued a warning to taxpayers, advising them to be cautious of fraudulent solicitors who pretend to represent genuine charities. These […]
Read MoreThe IRS has announced that enrollment to the IRS Energy Credit Online tool is now open to the sellers of clean vehicles. The Energy Credits tool is available free of cost and will […]
Read MoreThe IRS has urged taxpayers to promptly review their tax withholding to avoid surprises, whether in the form of significant refunds or balances due when filing taxes next […]
Read MoreThe IRS has reminded low and moderate income taxpayers that they can save more for their retirement now through Saver’s Credit. This credit is available to taxpayers who are 18 years […]
Read MoreThe IRS has reminded individual retirement arrangement (IRA) owners, aged 70½ or older, of tax-free charitable transfers permitting senior citizens to contribute up to $100,000 annually to eligible charities […]
Read MoreEffective January 1, 2024, the Florida local communications services tax (CST) rates in Collier County are as follows: 2.1% in […]
Read MoreFlorida issued guidance regarding a corporate income tax credit for manufacturing equipment purchased for the production of human breast milk […]
Read MoreFlorida issued guidance regarding the student internship credit program for corporate income taxpayers. The program has been renamed as the […]
Read MoreThe Service has introduced an expanded chatbot to promptly address inquiries of taxpayers receiving notices about possible underreporting of taxes. The new chatbot feature will assist taxpayers receiving CP2000 , CP2501 and CP3219A notices. This tech […]
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