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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The IRS, as part of the National Small Business week initiative, has urged business taxpayers to begin planning now to take advantage of tax–saving opportunities and get ready for reporting changes that take effect in 2023. The […]
Read MoreFlorida will follow the corporate income tax relief granted by the IRS regarding tax return due dates for taxpayers affected […]
Read MoreThe Florida Legislature passed legislation that would update the IRC conformity tie-in date for determining corporate income tax liability. H.B. […]
Read MoreFlorida increased the cap on the corporate income tax community contributions credit from $14.5 to $25 million for the 2023-2024 […]
Read MoreThe IRS has released the applicable terminal charge and the Standard Industry Fare Level (SIFL) mileage rate for determining the value of noncommercial flights on employer-provided […]
Read MoreThe IRS today informed taxpayers and practitioners that it has revised Form 3115, Application for Change in Accounting Method, and its instructions. […]
Read MoreThe IRS has issued frequently asked questions (FAQs) to provide guidance for victims who have received state compensation payments for forced, involuntary, or coerced sterilization. Some states have enacted […]
Read MoreThe IRS, Department of Labor (DOL) and Department of Health and Human Services (HHS) jointly issued frequently asked questions (FAQs), Part 58 and Part […]
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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