Tax Alerts

Population Figures Provided for Calculating Low-Income Housing Tax Credits, Notice 2023-22

State and local housing credit agencies that allocate low-income housing tax credits and states and other issuers of tax-exempt private activity bonds have been provided with a listing of the proper population figures to be used when calculating the 2023:

These figures are derived from the estimates of the resident populations of the 50 states, the District of Columbia and Puerto Rico, which were released by the Bureau of the Census on December 22, 2022. The figures for the insular areas of American Samoa, Guam, the Northern Mariana Islands and the U.S. Virgin Islands are the midyear population figures in the U.S. Census Bureau’s International Database.

FL - Senate approves IRC conformity changes

The Florida Senate approved a tax bill that changes the corporate income tax IRC conformity tie-in date. H.B. 7073, as […]

Read More
FL - Senate approves IRC conformity changes

FL - House passes bill that modifies IRC conformity date

Florida House of Representatives passed a bill with a provision that modifies the IRC conformity tie-in date for determining corporate […]

Read More
FL - House passes bill that modifies IRC conformity date

FinCEN Issues Guidance on Inflation Adjustments to Civil Monetary Penalties

The Financial Crimes Enforcement Network (FinCEN) issued guidance on inflation adjustments to its civil monetary penalties as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990 (the Act), as amended. This rule […]

Read More
FinCEN Issues Guidance on Inflation Adjustments to Civil Monetary Penalties

FL - IRC conformity update, disability employment credit proposed

Legislation introduced in the Florida House of Representatives proposes to: update the IRC conformity tie-in date for determining corporate income […]

Read More
FL - IRC conformity update, disability employment credit proposed

Seller Report Deadlines Extended for Clean Vehicle Credits, Rev. Proc. 2024-12

For purposes of the new clean vehicle credit and the used clean vehicle credit, the IRS has extended the deadlines for submitting seller reports for vehicles placed in service in […]

Read More
Seller Report Deadlines Extended for Clean Vehicle Credits, Rev. Proc. 2024-12

Low-Income Housing Credit Allocation Increases for Disaster Zones May Be Reallocated Outside Disaster Zones, Rev. Rul. 2024-5

For purposes of the low-income housing credit, the IRS concluded that additional housing credit dollar amounts (HCDAs) for 2021 and 2022 […]

Read More
Low-Income Housing Credit Allocation Increases for Disaster Zones May Be Reallocated Outside Disaster Zones, Rev. Rul. 2024-5

IRS Emphasizes Importance of Choosing a Trusted Tax Professional for Secure and Confidential Tax Preparation, IR-2024-31

The IRS has underscored the vital importance of selecting a tax professional carefully to safeguard personal and financial information. Taxpayers bear legal responsibility for their income tax return accuracy, […]

Read More
IRS Emphasizes Importance of Choosing a Trusted Tax Professional for Secure and Confidential Tax Preparation, IR-2024-31

IRS Emphasizes Digital Asset Income Reporting Obligation, IR-2024-18

The IRS has reminded taxpayers to report digital asset income on 2023 federal tax returns, with an updated question now on Forms 1040, Individual Income Tax Return; 1040-SR, U.S. Tax Return […]

Read More
IRS Emphasizes Digital Asset Income Reporting Obligation, IR-2024-18

FL - Taxpayer did not qualify as private trust

The Florida Department of Revenue (department) determined that a taxpayer was not a private trust excluded from the definition of […]

Read More
FL - Taxpayer did not qualify as private trust

FL - Governor proposes tax cuts in state of the state address

In his State of the State Address, Florida Gov. Ron DeSantis proposed $1.1 billion in tax cuts, the continuation of […]

Read More
FL - Governor proposes tax cuts in state of the state address