Newsletters

IRS Identifies Drought-Stricken Areas for Tax Relief After Involuntary Sale of Livestock, Notice 2022-43

The IRS identified drought-stricken areas where tax relief is available to taxpayers that sold or exchanged livestock because of drought. […]

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Sen. Wyden Reveals Expectations For IRS Funding

Senate Finance Committee Chairman Ron Wyden has indicated to the Internal Revenue Service what his expectations for the recently allocated […]

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AICPA Comments on Passthrough Entity SALT Payment Deductions

The American Institute of CPAs has posted comments on guidance recently issued by the Internal Revenue Service regarding the deductibility […]

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2023 Inflation-Adjusted Tax Tables, Standard Deduction, AMT and Other Amounts Released, IR-2022-182; Rev. Proc. 2022-38

The IRS has released the annual inflation adjustments for 2023 for the income tax rate tables, plus more than 60 […]

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2023 Inflation Adjustments for Pension Plans, Retirement Accounts Released, Notice 2022-55; IR-2022-188

The 2023 cost-of-living adjustments (COLAs) that affect pension plan dollar limitations and other retirement-related provisions have been released by the […]

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Social Security Wage Cap and Benefit Amounts Increase for 2023, Social Security Fact Sheet: 2023 Social Security Changes

For 2023, the Social Security wage cap will be $160,200, and social security and Supplemental Security Income (SSI) benefits will […]

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2022-2023 Special Per Diem Rates Released, Notice 2022-44

The IRS has released the 2022-2023 special per diem rates. Taxpayers use the per diem rates to substantiate certain expenses […]

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FinCEN Issues Final Rule on Beneficial Ownership Reporting Under Corporate Transparency Act, RIN 1506-AB49

The Financial Crimes Enforcement Network (FinCEN) has issued a final rule implementing the beneficial ownership information reporting provisions under the […]

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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 […]

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IRS Highlights New Business Tax Account Features, FS-2024-27

Guidance Issued on Retirement Plan Employer Matching Contributions Made for Student Loan Payments, Notice-2024-63; IR-2024-217

The IRS has issued a series of questions and answers for 401(k) and similar retirement plans that provide, or wish […]

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Guidance Issued on Retirement Plan Employer Matching Contributions Made for Student Loan Payments, Notice-2024-63; IR-2024-217

IRS WBO Celebrates Contributions Leading to $7 Billion Recovery , IR-2024-199

The IRS Whistleblower Office has recognized the contributions of whistleblowers on the occasion of National Whistleblower Appreciation Day, which falls on July […]

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IRS WBO Celebrates Contributions Leading to $7 Billion Recovery , IR-2024-199

FL - Correction: interest rates for second half of 2024 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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FL - Correction: interest rates for second half of 2024 announced

Taxpayers Reminded That Day Camp Expenses May Qualify for Child and Dependent Care Credit, IR-2024-216

The IRS has issued a reminder that summer day camp expenses may be eligible for the Child and Dependent Care tax […]

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Taxpayers Reminded That Day Camp Expenses May Qualify for Child and Dependent Care Credit, IR-2024-216

IRS Updates FAQs on Commercial Clean Vehicle Credits, FS-2024-26; IR-2024-197

The IRS has updated frequently asked questions (FAQs) to provide guidance related to the critical mineral and battery component requirements […]

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IRS Updates FAQs on Commercial Clean Vehicle Credits, FS-2024-26; IR-2024-197

IRS Issues FAQs About Social Media Scams, FS-2024-24

The IRS has warned taxpayers not to fall for scams centered around the Fuel Tax Credit, the Sick and Family […]

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IRS Issues FAQs About Social Media Scams, FS-2024-24

IRS Issues Warning on Clean Energy Tax Credit Scam, IR-2024-182

The IRS has issued a cautionary alert to taxpayers about a new scam exploiting clean energy tax credits. This emerging […]

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IRS Issues Warning on Clean Energy Tax Credit Scam, IR-2024-182

Code Sec. 280E Not Applicable to Marijuana, IR-2024-177

The IRS reminded taxpayers that marijuana will remains a Schedule I controlled substance till a federal rule is published. Businesses […]

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Code Sec. 280E Not Applicable to Marijuana, IR-2024-177

FL - Guidance issued on affidavit required to claim exemption for boats sold to nonresident purchasers

Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]

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FL - Guidance issued on affidavit required to claim exemption for boats sold to nonresident purchasers