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 […]
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The IRS has informed that due to a result of a programming issue in the IRS system that receives Forms 8955-SSA, the Service has sent out CP 283-C penalty notices to plan sponsors who timely filed complete 2022 Forms 8955-SSA. The notices indicate a late or incomplete filing of Form 8955-SSA.
Plan sponsors that timely filed a complete return do not need to respond to penalty notices dated prior to September 1, 2023. The IRS has resolved the programming issue and is updating its records to reflect the timely and complete filings.
Plan sponsors who have any questions may contact the IRS at 877-829-5500. The IRS has also reminded plan sponsors that Form 8955-SSA must be filed with the IRS and not with DOL through the EFAST2 System. If a Form 8955-SSA is filed in EFAST2, it will not be treated as timely filed by the IRS. Plan sponsors may also visit IRS.gov/5500corner for more information on filing Form 5500 series returns and Form 8955-SSA.
Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]
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The Florida Department of Revenue is offering corporate income tax return filing extensions for businesses in counties affected by severe […]
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Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
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Florida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
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The 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 […]
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The 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, […]
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The 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 […]
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The 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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