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 MoreThe IRS has sent reminder letters to encourage over 9 million taxpayers and families who are potentially eligible for expanded tax benefits, but haven’t yet filed a 2021 return, to review these valuable tax credits and claim them. The three tax credits include:
Besides the three credits above, taxpayers may also qualify for two other benefits with a tax return filed for 2021:
These tax credits are available to taxpayers even if they have little or no income from a job, business, or other source. However, to claim the benefits, individuals and families who don’t normally need to file a tax return should do so this year, even if they haven’t been required to file in recent years.
The IRS reminds taxpayers that there is no penalty for a refund claimed on a tax return filed after the regular April 2022 tax deadline and the fastest and easiest way to get a refund is to file an accurate return electronically and choose direct deposit. The taxpayers can also visit ChildTaxCredit.gov/file to file a 2021 income tax return. Individuals whose incomes are below $12,500 and couples whose incomes are below $25,000 may be able to file a simple tax return to claim the 2021 Recovery Rebate Credit—which covers any stimulus payment amounts from 2021 they may have missed.
Florida House of Representatives passed a bill with a provision that modifies the IRC conformity tie-in date for determining corporate […]
Read MoreThe 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 MoreLegislation introduced in the Florida House of Representatives proposes to: update the IRC conformity tie-in date for determining corporate income […]
Read MoreFor 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 MoreFor purposes of the low-income housing credit, the IRS concluded that additional housing credit dollar amounts (HCDAs) for 2021 and 2022 […]
Read MoreThe 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 MoreThe 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 MoreThe Florida Department of Revenue (department) determined that a taxpayer was not a private trust excluded from the definition of […]
Read MoreIn his State of the State Address, Florida Gov. Ron DeSantis proposed $1.1 billion in tax cuts, the continuation of […]
Read MoreThe Department of Treasury’s Financial Crimes Enforcement Network (FinCEN), has begun accepting beneficial ownership information report under the bipartisan Corporate Transparency Act, enacted in 2021. This effort requires companies doing […]
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