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Treasury and IRS issue guidance for the Energy Efficient Home Improvement Credit

The Department of the Treasury and the Internal Revenue Service (IRS) have released Revenue Procedure 2024-31 and proposed regulations that offer guidance on the Energy Efficient Home Improvement Credit. This revenue procedure outlines the steps and requirements for manufacturers of certain energy-efficient products to become qualified manufacturers (QMs). To achieve QM status, manufacturers must: 1. […]

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IRS

The IRS announces tax inflation adjustments for the 2025 tax year

WASHINGTON — The Internal Revenue Service announced today the annual inflation adjustments for tax year 2025. Revenue Procedure 2024-40 PDF provides detailed information on adjustments and changes to more than 60 tax provisions that will impact taxpayers when they file their returns in 2026. Notable changes for tax year 2025 The tax year 2025 adjustments described below

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irs efile form 8300 january

Businesses Must e-file Form 8300 for Cash Payments Over $10,000 in 2024

The Internal Revenue Service (IRS) has introduced a new requirement for businesses regarding the filing of Form 8300, Report of Cash Payments Over $10,000. Effective from January 1, 2024, businesses that file 10 or more information returns are now obligated to e-file Form 8300 electronically, as opposed to filing a paper return. This move aims

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IRS Form 990: Everything You Need to Know About Filing This Annual Tax Return

Form 990 is an annual tax return that all 501(c)(3) Tax Exempt charitable and non-profit organizations must submit to the IRS. It provides the IRS with information about the organization’s finances, activities, and governance. The IRS can use the information you provide on Form 990 to audit your organization. Also, donors and other stakeholders who

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