The IRS has issued a notice that updates administrative exemptions from and waivers of the requirements to file certain returns in electronic form. Talk with an accounting professional if you have clarifications on exemptions and waivers. An additional exemption is now available for filers whose use of technology required to file electronically conflicts with their …
has issued a notice announcing its intent to propose regulations regarding the requirements for taxpayers including those in South Florida who want to claim the Energy Efficient Home Improvement Credit for home energy audits. Guidance in the notice provides specific requirements to claim the credit as well as the process for conducting the home energy …
IRS Issues Notice Providing Requirements for Home Energy Audits: Read More »
The IRS Office of Chief Counsel has issued a memorandum to clarify the potential applicability of the Employee Retention Tax Credit (ERTC) to businesses that navigated supply chain disruptions. To ensure more accurate and substantiated claims, the memorandum analyzes five different scenarios with supply chain challenges and how those scenarios align with the statutory provisions …
Supply Chain Disruption and the Employee Retention Tax Credit Read More »
The IRS has issued a notice that provides tax relief for corporations that didn’t pay estimated tax related to the new Corporate Alternative Minimum Tax (CAMT). You might need to consult with your CPA in South Florida to see how this could affect your business. The Inflation Reduction Act created the CAMT, which imposes a …
The Treasury and IRS have issued proposed regulations (REG-110412-23) providing additional guidance under IRC Sec. 48(e) for applicants in West Palm Beach Florida or other parts of the country investing in certain solar and wind powered electricity generation facilities under the Inflation Reduction Act of 2022. Notice 2023-17 established the Low-Income Communities Bonus Credit Program …
Additional Guidance on Solar and Wind Powered Electricity Generation Facilities: Read More »
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