Tax Alerts

Plan Sponsors Who Timely Filed Forms 8955-SSA Not Required to Respond to Certain Penalty Notices

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.

Energy Credit Online Tool Now Available to Sellers, IR-2023-202

The 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 […]

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Energy Credit Online Tool Now Available to Sellers, IR-2023-202

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 […]

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IRS Offers Cybersecurity Tips, IR-2023-200

IRS Cautions Against Charity Scams Amid Global Crisis, IR-2023-196

The IRS has issued a warning to taxpayers, advising them to be cautious of fraudulent solicitors who pretend to represent genuine charities. These […]

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IRS Cautions Against Charity Scams Amid Global Crisis, IR-2023-196

IRS Urges Taxpayers to Review Withholding, IR-2023-205

The 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 […]

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IRS Urges Taxpayers to Review Withholding, IR-2023-205

Low and Moderate Income Taxpayers Can Save More through Saver’s Credit in 2024, IR-2023-222

The 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 […]

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Low and Moderate Income Taxpayers Can Save More through Saver’s Credit in 2024, IR-2023-222

IRS Reminds IRA Owners of Tax-Free Charitable Transfer Option, IR-2023-215

The 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 […]

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IRS Reminds IRA Owners of Tax-Free Charitable Transfer Option, IR-2023-215

FL - Change in Collier County local communications services tax rates announced

Effective January 1, 2024, the Florida local communications services tax (CST) rates in Collier County are as follows: 2.1% in […]

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FL - Change in Collier County local communications services tax rates announced

FL - Guidance on credit for human milk fortifier manufacturing equipment issued

Florida issued guidance regarding a corporate income tax credit for manufacturing equipment purchased for the production of human breast milk […]

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FL - Guidance on credit for human milk fortifier manufacturing equipment issued

FL - Guidance on internship tax credit program issued

Florida issued guidance regarding the student internship credit program for corporate income taxpayers. The program has been renamed as the […]

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FL - Guidance on internship tax credit program issued

IRS, Treasury Release 2023-2024 Priority Guidance Plan, 2023–2024 Priority Guidance Plan Initial Version

The Treasury and IRS have released their 2023-2024 Priority Guidance Plan. The plan continues to prioritize taxpayer engagement with the Treasury Department and the Service through a variety […]

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IRS, Treasury Release 2023-2024 Priority Guidance Plan, 2023–2024 Priority Guidance Plan Initial Version