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 MoreFlorida issued guidance regarding the student internship credit program for corporate income taxpayers. The program has been renamed as the Experiential Learning Tax Credit Program, and its scope has been expanded to include the hiring of:
apprentices; or
preapprentices.
An eligible apprentice or preapprentice must work in the state for 500 or more hours.
For tax years beginning during calendar years 2022 through 2025, a student internship tax credit is available for up to five apprentices, preapprentices, or student interns per taxable year, per corporation. The credit amount is $2,000 per apprentice, preapprentice, or student intern. A total of $2.5 million in credits are available for each of the four years.
Who Is a Qualified Apprentice?
A qualified apprentice is any individual:
who is 16 years of age;
who is learning a skilled trade while working for a journeyworker craftsperson; and
who entered a written apprentice agreement with a registered apprenticeship sponsor.
A registered apprenticeship sponsor can include an employer, an association of employers, or a local joint apprenticeship committee.
Who Is a Qualified Preapprentice?
A qualified preapprentice is any individual:
who is 16 years of age or older; and
who is enrolled in a public school course that is registered as a preapprenticeship program with the Florida Department of Education.
Tax Information Publication, No. 23C01-02, Florida Department of Revenue, July 07, 2023, released August 2023
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 […]
Read More