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 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 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 issued a cautionary alert to taxpayers about a new scam exploiting clean energy tax credits. This emerging […]
Read MoreThe IRS reminded taxpayers that marijuana will remains a Schedule I controlled substance till a federal rule is published. Businesses […]
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