FL - Guidance provided on change in application process for child care tax credit
Beginning October 1, 2024, taxpayers that wish to participate in the child care tax credit program must apply to the […]
Read MoreThe IRS has updated the applicable percentage table used to calculate an individual’s premium tax credit and required contribution percentage for plan years beginning in calendar year 2025. This percentage is used to determine whether an individual is eligible for affordable employer-sponsored minimum essential coverage, as well as to determine whether an individual is eligible for an exemption from the individual shared responsibility payment due to a lack of affordable minimum essential coverage. For plan years beginning in 2025, the required contribution percentage under Code Sec. 36B is 9.02 percent. Further, the IRS and the Treasury Department have determined that the failsafe exception described in Code Sec. 36B(b)(3)(A)(ii)(III) applies for calendar year 2025, and no additional adjustment under Code Sec. 36B(b)(3)(A)(ii)(II) is required for calendar year 2025. The guidance is effective for tax years and plan years beginning after December 31, 2024.
Rev. Proc. 2014-37, I.R.B. 2014-33, 363 is supplemented.
Beginning October 1, 2024, taxpayers that wish to participate in the child care tax credit program must apply to the […]
Read MoreThe IRS has reminded businesses that starting in tax year 2023 changes under the SECURE 2.0 Act may affect the […]
Read MoreThe IRS and the Security Summit concluded their eight-week summer awareness campaign by urging tax professionals to implement stronger security […]
Read MoreThe IRS has reminded employers that educational assistance programs can be used to help employees pay off student loans until […]
Read MoreThe IRS has updated the applicable percentage table used to calculate an individual’s premium tax credit and required contribution percentage […]
Read MoreThe IRS has urged taxpayers to conduct an end-of-summer tax checkup to avoid unexpected tax bills in the upcoming year. […]
Read MoreHillsborough County residents and non-residents who can verify taxable expenditures with receipts or other documentation will receive compensation equal to […]
Read MoreThe IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
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