IRS Highlights New Business Tax Account Features, FS-2024-27
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe Florida Department of Revenue (department) has issued a technical assistance advisement concurring with a taxpayer’s methodology for calculating income generated by a qualifying capital investment project for purposes of the Florida capital investment tax credit. Generally, a qualified project is eligible for a credit against the corporate income tax imposed provided certain criteria are met. No annual credit may be claimed without a letter from the Department of Economic Opportunity stating that the appropriate annual requirements have been satisfied. In this matter, the taxpayer successfully proposed using a two-factor method to determine the income generated by or arising out of the project. The two equally weighted factors were a jobs-change factor and a property factor. The department accepted the use of the proposed method, provided the facts represented by the taxpayer in its request remained unchanged. Technical Assistance Advisement, No. 21C1-007, Florida Department of Revenue, July 28, 2021, released January 2022
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe IRS has issued a series of questions and answers for 401(k) and similar retirement plans that provide, or wish […]
Read MoreThe IRS Whistleblower Office has recognized the contributions of whistleblowers on the occasion of National Whistleblower Appreciation Day, which falls on July […]
Read MoreThe floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
Read MoreThe IRS has issued a reminder that summer day camp expenses may be eligible for the Child and Dependent Care tax […]
Read MoreThe IRS has updated frequently asked questions (FAQs) to provide guidance related to the critical mineral and battery component requirements […]
Read MoreThe IRS has warned taxpayers not to fall for scams centered around the Fuel Tax Credit, the Sick and Family […]
Read MoreThe IRS has issued a cautionary alert to taxpayers about a new scam exploiting clean energy tax credits. This emerging […]
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