No Further Funding Cuts For IRS In FY24
Other than a planned repurposing of Inflation Reduction Act supplemental funding, the Internal Revenue Service saw no other cuts as the President signed off on the resolution […]
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Recent legislation enacted a Florida sales and use tax exemption for oral hygiene products. “Oral hygiene products” are defined as […]
Read MoreIn light of the end of the COVID-19 public health emergency, the Treasury Department and the IRS have released guidance modifying prior guidance regarding […]
Read MoreThe IRS has an renewed alert to warn businesses against misleading employee retention credit scams. Employee Retention Credit (ERC) is a a refundable tax […]
Read MoreThe IRS has published the reference price under Code Sec. 45K(d)(2)(C). The credit period for the nonconventional source production credit under Code Sec. 45K ended on December 31, 2013, for […]
Read MoreAn organization that developed paid name, image,and likeness (NIL) opportunities for student-athletes was operating for a substantial nonexempt purpose. This would […]
Read MoreThe IRS encouraged members of the military and their families to learn more about the special tax benefits available to them. MilTax, a Department of […]
Read MoreThe IRS has highlighted numerous payment plan options for taxpayers who cannot pay taxes in one go. Further, the IRS has advised taxpayers to use the Online Payment Agreement (OPA) to set it up to pay off […]
Read MoreFlorida provides guidance regarding the two 2023 back-to-school sales tax holidays, which will be held on: July 24, 2023, through […]
Read MoreOther than a planned repurposing of Inflation Reduction Act supplemental funding, the Internal Revenue Service saw no other cuts as the President signed off on the resolution […]
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The IRS released statistics that showed 1,644 tax and money-laundering cases related to COVID fraud, totaling $9 billion investigated by the Criminal Investigation (CI). CI is the law enforcement […]
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The IRS updated frequently asked questions (FAQ) on New, Previously Owned and Qualified Commercial Clean Vehicle Credits. These FAQs provide guidance on how the Inflation Reduction […]
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KPMG TaxNewsFlash – United States March 20, 2024 The IRS today released Notice 2024-31 [PDF 156 KB] providing the adjustments to the limitation on housing expenses, under […]
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The IRS has issued an announcement that addresses the federal income tax treatment of amounts paid for the purchase of energy efficient property and improvements. Taxpayers who […]
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Reflecting on the 2024 tax filing season, the IRS released major filing numbers for the season. The agency highlighted a variety of improvements that dramatically expanded service for millions of taxpayers during […]
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The IRS has wrapped up the 2024 Dirty Dozen campaign, with a warning to taxpayers to beware of promoters selling bogus tax avoidance strategies. Promoters have been peddling elaborate bogus schemes to […]
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Effective June 1, 2024, the Florida sales tax rate imposed on the total rent charged for renting, leasing, letting, or […]
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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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