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 corporate income tax guidance on the adoption of the 2023 Internal Revenue Code (IRC). As a result, Florida will follow the computation of federal taxable income. The publication states, among other things:
The annual credit cap for the community contribution tax credit is increased to $25 million, and the annual credit cap for the contaminated site rehabilitation tax credit is increased to $35 million beginning with the 2023-24 state fiscal year.
The internship tax credit program is renamed the experiential learning tax credit program, and the program’s availability is expanded.
The new live local program tax credit is available for tax years beginning on or after January 1, 2023.
Credit for manufacturing of human breast milk-derived human milk fortifiers is available for taxable years that begin within the 2023 and 2024 calendar years.
The residential graywater systems tax credit is available for tax years beginning on or after January 1, 2024.
Tax Information Publication, No. 23C01-04, Florida Department of Revenue, July 28, 2023, released September 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 […]
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