Florida Sales Surtax Rates Updated for 2017

The Florida Department of Revenue has provided an updated list of local discretionary sales surtax rates for the 2017 calendar year. For 2017, the following counties have changes to their surtax rates: County Surtax rate change Explanation Alachua County 0.5% Includes a new 0.5% infrastructure surtax that begins January 1, 2017 and expires December 31,…

Tax Return Due Dates

Last July, Congress and the President passed the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.  Among its provisions, this law modified the annual due dates for many common tax returns, beginning with the 2016 tax year (returns that will be filed in 2017).  Below we have included a list of the…

Repair Regs

The IRS recently released special procedures that will allow small businesses to more easily adopt the tangible property regulations, more commonly known as the repair regs. These special procedures generally limit the changes in accounting needed to adopt the repair regs to amounts paid or incurred, and dispositions, in tax years beginning on or after…

Largest Ever IRS Phone Fraud Scam

The Treasury Inspector General for Tax Administration is warning taxpayers to be on alert for phone calls from individuals claiming to represent the Internal Revenue Service, but in reality are trying to defraud them, in what is being reported as the largest phone scam seen to date. TIGTA Inspector General J. Russell George, noted that…

taxes 1040

2014 Tax Season

Tax season is officially here!  As usual, there are some possible glitches to be mindful of. Already, the IRS has alerted taxpayers that the start of filing season will be delayed. Late tax legislation, although unlikely, could result in a further delay. Some new requirements under the Patient Protection and Affordable Care Act have been…