2025 Standard Mileage Rates Released (Notice 2025-5; IR-2024-312)
The IRS released the optional standard mileage rates for 2025. Most taxpayers may use these rates to compute deductible costs […]
Read MoreThe 2023 interest rates to be used in computing the special use value of farm real property for which an election is made under Code Sec. 2032A were issued by the IRS.
In the ruling, the IRS has listed the average annual effective interest rates on new loans under the Farm Credit System. The rates are employed in computing the special use value of real property used as a farm for which a Code Sec. 2032A election has been made. In addition to the interest rates, the IRS has provided an accompanying table that identifies the states within each Farm Credit System Bank Chartered Territory. The rates may be used by estates that value farmland under Code Sec. 2032A in 2023.
For 2023, the interest rate for each Farm Credit System Bank is:
The IRS released the optional standard mileage rates for 2025. Most taxpayers may use these rates to compute deductible costs […]
Read MoreThe IRS, in partnership with the Coalition Against Scam and Scheme Threats (CASST), has unveiled new initiatives for the 2025 […]
Read MoreThe IRS reminded disaster-area taxpayers that they have until February 3, 2025, to file their 2023 returns, in the entire […]
Read MoreThe IRS has announced plans to issue automatic payments to eligible individuals who failed to claim the Recovery Rebate Credit on their […]
Read MoreFlorida has issued motor vehicle sales tax rates by state as of January 15, 2025. Florida law allows a partial […]
Read MoreFor purposes of calculating the 2025 intangible personal property tax on governmental leaseholds, the Florida Department of Revenue has issued […]
Read MoreThe IRS, along with Security Summit partners, urged businesses and individual taxpayers to update their security measures and practices to protect against […]
Read MoreThe IRS has issued its 2024 Required Amendments List (2024 RA List) for individually designed employee retirement plans. RA Lists […]
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