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 IRS issued guidance on the federal income and employment tax treatment of cash payments made by employers under leave-based donation programs to aid victims of the further Russian invasion of Ukraine. Employer leave-based donation payments made by an employer before January 1, 2023, to Code Sec. 170(c) organizations to aid said victims (qualified payments) will not be treated as gross income, wages or compensation of the employees of the employer.
Similarly, employees electing or with an opportunity to elect to forgo leave that funds said qualified payments will not be treated as having constructively received gross income, wages, or compensation. Further, electing employees are not eligible to claim a charitable contribution deduction under Code Sec. 170 for the value of the forgone leave that funds said qualified payments.
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 reminded taxpayers that marijuana will remains a Schedule I controlled substance till a federal rule is published. Businesses […]
Read MoreThe IRS has warned taxpayers not to fall for scams centered around the Fuel Tax Credit, the Sick and Family […]
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