FL - Interest rates for first half of 2025 announced
The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
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An individual who had electronically filed a petiton to seek redermination of tax deficiency eleven seconds after midnight of the due date had his petition dismissed as untimely. The […]
Read MoreThe IRS has released additional guidance for the Qualifying Advanced Energy Project Credit Allocation Program. The new guidance clarifies and modifies Notice 2023-18, I.R.B. 2023-10, 508 (TAXDAY, 2023/02/14, I.2). Background The […]
Read MoreThe IRS provided guidance in advance of an update to the Employee Plans Compliance Resolution System (EPCRS). The SECURE 2.0 Act of 2022 (P.L. 117-328, […]
Read MoreThe Internal Revenue Service has made progress on clearing out the backlog of paper original returns in the wake of the COVID-19 pandemic, but the backlog of unprocessed amended returns remains […]
Read MoreMark Mazur, former assistant secretary for Tax Policy U.S. at the Department of the Treasury, told members of the House Budget Committee that […]
Read MoreProposed regulations describe rules for an eligible taxpayer to make the Code Sec. 6418 election to transfer eligible credits to an unrelated person. In particular, the proposed regs: define several key terms, provide […]
Read MoreThe IRS today released an advance version of Rev. Proc. 2023-24 [PDF 1.5 MB] (462 pages), providing an updated annual list of automatic accounting method changes. Rev. Proc. 2023-24 updates and replaces Rev. Proc. […]
Read MoreDespite losing more than a quarter of the supplemental funding provided by the Inflation Reduction Act of 2022, the Internal Revenue Service does not expect the […]
Read MoreThe floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
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The sale, rental, and associated charges for the design, installation, removal, and storage of holiday decorations and lighting are subject […]
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The IRS has offered some tips to taxpayers about scammers using fake charities to exploit unsuspecting donors in the aftermath […]
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The IRS has provided a safe harbor under Code Sec. 213(d) for amounts paid for condoms. Because amounts paid for condoms are […]
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The IRS has encouraged taxpayers to register for an Identity Protection Personal Identification Number (IP PIN) to strengthen their defenses against tax-related […]
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The IRS has made significant progress on Employee Retention Credit (ERC) claims, with processing underway on about 400,000 claims, worth […]
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The IRS has issued a warning to taxpayers to be cautious of unscrupulous promoters claiming to offer help in resolving […]
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The IRS Independent Office of Appeals (Appeals) today launched a pilot program as part of the IRS’ ongoing transformation efforts […]
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