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2024 Post-Filing Season Update(Proposed) Tax Relief for American Families and Workers Act of 2024 (Passed by House, January 31, 202023 Tax Year-in-ReviewConsolidated Appropriations Act, 2023
IRS Releases Major Filing Numbers Showing Service Improvements, IR-2024-109
Reflecting on the 2024 tax filing season, the IRS released major filing numbers for the season. The agency highlighted a variety of improvements that dramatically expanded service for mill...
Reflecting on the 2024 tax filing season, the IRS released major filing numbers for the season. The agency highlighted a variety of improvements that dramatically expanded service for mill...
IRS Wraps Up Dirty Dozen, Warns of Bogus Tax Avoidance Strategies (IR-2024-105)
The IRS has wrapped up the 2024 Dirty Dozen campaign, with a warning to taxpayers to beware of promoters selling bogus tax avoidance strategies. Promoters have been peddling elaborate bogus...
The IRS has wrapped up the 2024 Dirty Dozen campaign, with a warning to taxpayers to beware of promoters selling bogus tax avoidance strategies. Promoters have been peddling elaborate bogus...
IRS Criminal Investigation Releases COVID Fraud Conviction Statistics, IR-2024-83
The IRS released statistics that showed 1,644 tax and money-laundering cases related to COVID fraud, totaling $9 billion investigated by the Criminal Investigation (CI). CI is the law enforce...
The IRS released statistics that showed 1,644 tax and money-laundering cases related to COVID fraud, totaling $9 billion investigated by the Criminal Investigation (CI). CI is the law enforce...
IRS Updates FAQ on Commercial Clean Vehicle Credits (FS-2024-14; IR-2024-111)
The IRS updated frequently asked questions (FAQ) on New, Previously Owned and Qualified Commercial Clean Vehicle Credits. These FAQs provide guidance on how the Inflation Reduction Act of 2022 r...
The IRS updated frequently asked questions (FAQ) on New, Previously Owned and Qualified Commercial Clean Vehicle Credits. These FAQs provide guidance on how the Inflation Reduction Act of 2022 r...
2024 Foreign Housing Expense Amounts Released, Notice 2024-31
KPMG TaxNewsFlash - United StatesMarch 20, 2024The IRS today released Notice 2024-31 [PDF 156 KB] providing the adjustments to the limitation on housing expenses, under section 911, for specifi...
KPMG TaxNewsFlash - United StatesMarch 20, 2024The IRS today released Notice 2024-31 [PDF 156 KB] providing the adjustments to the limitation on housing expenses, under section 911, for specifi...
Energy Efficient Property and Improvement Rebate Guidance Issued, Announcement 2024-19; IR-2024-97
The IRS has issued an announcement that addresses the federal income tax treatment of amounts paid for the purchase of energy efficient property and improvements. Taxpayers who receive rebates...
The IRS has issued an announcement that addresses the federal income tax treatment of amounts paid for the purchase of energy efficient property and improvements. Taxpayers who receive rebates...
No Further Funding Cuts For IRS In FY24
Other than a planned repurposing of Inflation Reduction Act supplemental funding, the Internal Revenue Service saw no other cuts as the President signed off on the resolution to keep the federa...
Other than a planned repurposing of Inflation Reduction Act supplemental funding, the Internal Revenue Service saw no other cuts as the President signed off on the resolution to keep the federa...
DC - Mayor testifies in support of tax increases in 2025 budget
The District of Columbia (DC) Mayor Muriel Bowser testified in support of her Fiscal Year 2025 budget. The proposed budget includes tax increases to the:Paid Family Leave tax on businesses; and911 fee...
The District of Columbia (DC) Mayor Muriel Bowser testified in support of her Fiscal Year 2025 budget. The proposed budget includes tax increases to the:Paid Family Leave tax on businesses; and911 fee...
MD - Volunteer police officer subtraction increased
Maryland enacted legislation increasing the amount of the Maryland income tax subtraction from gross income for certain volunteer police officers to $7,000 beginning in tax year 2024. The legislation ...
Maryland enacted legislation increasing the amount of the Maryland income tax subtraction from gross income for certain volunteer police officers to $7,000 beginning in tax year 2024. The legislation ...
VA - Firearm safety device credit expanded
Under the Virginia firearm safety device tax credit, the definition of "firearm safety device" has been expanded for taxable years beginning on and after January 1, 2024, to include any device that, w...
Under the Virginia firearm safety device tax credit, the definition of "firearm safety device" has been expanded for taxable years beginning on and after January 1, 2024, to include any device that, w...
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