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 […]
Read MoreThe IRS Whistleblower Office has recognized the contributions of whistleblowers on the occasion of National Whistleblower Appreciation Day, which falls on July 30. Since its inception in 2007, the office has awarded over $1.2 billion to whistleblowers, leading to the recovery of $7 billion from non-compliant taxpayers. The Whistleblower Office, under the leadership of Director John Hinman, aims to enhance its program by improving the processing of high-value information, ensuring fair and timely awards, and maintaining transparency with whistleblowers. Fiscal Year 2023 saw the office pay out $88.8 million in awards, based on the collection of $338 million in taxes and other amounts. The number of award claims increased by 44% compared to the average of the prior four years. The office has also updated Form 211 and is developing a digital submission portal expected to launch in 2025. Whistleblower information has proven to be a vital component of effective tax administration, helping to identify non-compliance and reduce the tax gap. The awards typically range between 15 and 30% of the proceeds collected due to the whistleblower’s information. National Whistleblower Appreciation Day marks the anniversary of America’s first whistleblower law, enacted on July 30, 1778.
The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
Read MoreThe sale, rental, and associated charges for the design, installation, removal, and storage of holiday decorations and lighting are subject […]
Read MoreThe IRS has offered some tips to taxpayers about scammers using fake charities to exploit unsuspecting donors in the aftermath […]
Read MoreThe IRS has provided a safe harbor under Code Sec. 213(d) for amounts paid for condoms. Because amounts paid for condoms are […]
Read MoreThe IRS has made significant progress on Employee Retention Credit (ERC) claims, with processing underway on about 400,000 claims, worth […]
Read MoreThe IRS has issued a warning to taxpayers to be cautious of unscrupulous promoters claiming to offer help in resolving […]
Read MoreThe IRS Independent Office of Appeals (Appeals) today launched a pilot program as part of the IRS’ ongoing transformation efforts […]
Read MoreThe 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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