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 has updated the procedures for exempt organization determination letters with respect to the electronically submitted Form 1024, Application for Recognition of Exemption Under Section 501(a) or Section 521 of the Internal Revenue Code. Electronic submission is now the exclusive means of submitting a completed Form 1024-A, except for submissions eligible for 90-day transition relief.
The IRS has revised and updated Form 1024-A and provided for it to be electronically submitted. The electronic submission process for Form 1024-A replaces the paper submission process for Form 1024-A after January 3, 2022, subject to transition relief. The Service will process a completed paper Form 1024-A accompanied by the correct user fee, without applying the modifications of this revenue procedure, if the submission of the Form 1024-A is postmarked on or before the date that is 90 days after the effective date of this revenue procedure. The required user fee for Form 1024 will remain $600 for 2022. Taxpayers must pay the fee through www.pay.gov when submitting the form. Payment can be made directly from a bank account or by credit or debit card.
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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