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 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 year. The IRS has provided tools to assist with this process.
The Tax Withholding Estimator helps taxpayers determine if they have too much income tax withheld and provides guidance on adjusting their withholding or making estimated tax payments to avoid tax bills during the 2023 tax filing.
For options to pay, taxes are usually paid throughout the year, with employers deducting income tax from employees’ salaries and forwarding it to the IRS. However, approximately 70-percent of taxpayers withhold an excess amount, resulting in refunds. The IRS advises individuals earning non-withheld income, like rental properties, gig economy work or self-employment to consider making quarterly estimated tax payments. Taxpayers can make payments using Form 1040-ES by mail, pay online,via phone or the IRS2Go app. Taxpayers can also manage payments through their Online Account on IRS.gov./account.
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 […]
Read MoreThe United States has provided formal notice to the Russian Federation on June 17, 2024, to confirm the suspension of the operation […]
Read MoreThe IRS issued frequently asked questions (FAQs) related to distributions from retirement plans and IRS for individuals impacted by federally declared disasters. These FAQs cover the ongoing disaster relief for certain distributions […]
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