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 announced that enrollment to the IRS Energy Credit Online tool is now open to the sellers of clean vehicles. The Energy Credits tool is available free of cost and will enable dealers and sellers of clean vehicles to complete the entire process online and receive advance payments within 72 hours among other benefits. “This special onlinetool is designed to help dealers and sellers navigate this important new Clean Vehicle Credit and help taxpayers at tax time,” said IRS Commissioner Danny Werfel.
The Energy Credits Online Tool will generate a Time of Sale report that the taxpayer can use when filing their federal tax return to claim or report the credit. The IRS further stated that starting December, 2023 dealers and sellers will be able to authorize more than one employee to submit Time of Sale reports and advance payment requests. As of 2024,use of this tool will be made mandatory for clean vehicles sellers and licensed dealers to successfully claim or transfer the new or previously owned clean vehicle credit for vehicles placed in service January 1, 2024 or later.
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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