The Pless Law Firm, P.A.

08/14/2024

Taxpayers in certain Florida counties whose 2023 returns are on valid extension have an extended filing due date of Feb 3, 2025 due to Tropical Storm Debby.

FL-2024-07, Aug. 9, 2024 — The Internal Revenue Service announced today tax relief for individuals and businesses in Florida that were affected by severe storms and flooding that began on Aug. 1, 2024.

10/19/2023

IRS has just announced a process for taxpayers to withdraw Employment Retention Credit (ERC) refund claims in cases where taxpayers were misled or pressured into filing by unscrupulous marketing or promoting companies. Claims that are withdrawn will be treated as if they were never filed. The IRS will not impose penalties or interest. If you filed an ERC claim and are concerned you didn't qualify please contact a tax professional to assist you in withdrawing your claim. I foresee IRS making this a big audit focus in the next few months.

IR-2023-193, Oct. 19, 2023 — As part of a larger effort to protect small businesses and organizations from scams, the IRS today announced the details of a special withdrawal process to help those who filed an Employee Retention Credit (ERC) claim and are concerned about its accuracy.

08/31/2023

Hurricane Idalia tax relief: The Internal Revenue Service announced tax relief for individuals and businesses affected by Idalia in parts of Florida. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments.
The tax relief postpones various tax filing and payment deadlines that occurred from Aug. 27, 2023, through Feb. 15, 2024, (postponement period). As a result, affected individuals and businesses will have until Feb. 15, 2024, to file returns and pay any taxes that were originally due during this period.
The Feb. 15, 2024, deadline will apply to:
• Individuals who had a valid extension to file their 2022 return due to run out on Oct. 16, 2023. The IRS noted, however, that because tax payments related to these 2022 returns were due on April 18, 2023, those payments are not eligible for this relief.
• Quarterly estimated income tax payments normally due on Sept. 15, 2023, and Jan. 16, 2024.
• Quarterly payroll and excise tax returns normally due on Oct. 31, 2023, and Jan. 31, 2024.
• Calendar-year partnerships and S corporations whose 2022 extensions run out on Sept. 15, 2023.
• Calendar-year corporations whose 2022 extensions run out on Oct. 16, 2023.
• Calendar-year tax-exempt organizations whose extensions run out on Nov. 15, 2023

Find disaster tax relief information and resources.

07/24/2023

Time to celebrate! IRS will no longer make unannounced visits to taxpayers (in most cases)! Instead they will be mailing appointment letters - so check your mail!

IR-2023-133, July 24, 2023 — As part of a larger transformation effort, the Internal Revenue Service today announced a major policy change that will end most unannounced visits to taxpayers by agency revenue officers to reduce public confusion and enhance overall safety measures for taxpayers and ...

04/18/2023

Today is the Day! File your Form 1040 or an extension but remember an extension is only an extension to file, not an extension to pay. If you think you're going to owe make a payment with your extension request to minimize late payment penalties! 💲💲💲

02/15/2023

The Hurricane Ian tax extension deadline is today! For individuals who had a valid extension to file their 2021 return due on October 17, 2022, have until today to file to avoid late filing penalties. There was no extension for payments because tax payments related to 2021 returns were due on April 18, 2022. Make sure you file today to avoid late filing penalties!

01/23/2023

Tax filing season starts today! Most U.S. taxpayers must file and pay their personal 2022 returns by April 18, 2023.

IR-2023-11, January 23, 2023 — The Internal Revenue Service kicked off the 2023 tax filing season with a focus on improving service and a reminder to taxpayers to file electronically with direct deposit to speed refunds and avoid delays.

10/25/2022

Unbelievable! Good job IRS CI!
"According to court documents, Streeter was employed by the U.S. Postal Service at a mail processing center in Sarasota. He exploited his position by stealing approximately 40 federal tax refund checks from the U.S. mail that were enroute to the intended taxpayers living in the Middle District of Florida. Streeter and others then sold or attempted to sell the checks to third parties. The tax refund checks, issued by the U.S. Department of Treasury, ranged in amounts from $4,000 to over $100,000, with an aggregate value of over $398,000."

Kevin Streeter, Jr., 38, was sentenced to 4 years, 6 months

10/20/2022

IRS released the inflation adjustments for next year.

The standard deduction for married couples filing jointly for tax year 2023 rises to $27,700 up $1,800 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises to $13,850 for 2023, up $900, and for heads of households, the standard deduction will be $20,800 for tax year 2023, up $1,400 from the amount for tax year 2022.

Marginal Rates: For tax year 2023, the top tax rate remains 37% for individual single taxpayers with incomes greater than $578,125 ($693,750 for married couples filing jointly).
The other rates are:

35% for incomes over $231,250 ($462,500 for married couples filing jointly);
32% for incomes over $182,100 ($364,200 for married couples filing jointly);
24% for incomes over $95,375 ($190,750 for married couples filing jointly);
22% for incomes over $44,725 ($89,450 for married couples filing jointly);
12% for incomes over $11,000 ($22,000 for married couples filing jointly).

IR-2022-182, October 18, 2022 — The Internal Revenue Service today announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2022-38 provides details about these annual adjustments.

10/04/2022

Hurricane Ian Tax Relief!
Hurricane Ian victims throughout Florida now have until Feb. 15, 2023, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by FEMA.
The tax relief postpones various tax filing and payment deadlines that occurred starting on Sept. 23, 2022. As a result, affected individuals and businesses will have until Feb. 15, 2023, to file returns and pay any taxes that were originally due during this period.
This means individuals who had a valid extension to file their 2021 return due to run out on Oct. 17, 2022, will now have until Feb. 15, 2023, to file. The IRS noted, however, that because tax payments related to these 2021 returns were due on April 18, 2022, those payments are not eligible for this relief.
The Feb. 15, 2023, deadline also applies to quarterly estimated income tax payments due on Jan. 17, 2023, and the quarterly payroll and excise tax returns normally due on Oct. 31, 2022, and Jan. 31, 2023. Businesses with an original or extended due date also have the additional time including, among others, calendar-year corporations whose 2021 extensions run out on Oct. 17, 2022. Similarly, tax-exempt organizations also have the additional time, including for 2021 calendar-year returns with extensions due to run out on Nov. 15, 2022.
In addition, penalties on payroll and excise tax deposits due on or after Sept. 23, 2022, and before Oct. 10, 2022, will be abated as long as the deposits are made by Oct. 10, 2022.

Special disaster relief tax law provisions help individuals and businesses through financial crisis.

09/30/2022

While Hurricane Ian spared much of our area it has devastated our southwest coast. The Pless Law Firm, P.A. is joining with other local moms to provide diapers for the families affected by Hurricane Ian. You can help by making a cash donation at https://babycyclefl.org/donate/ and add StPeteMamas to the notes. They will be delivering the donations in the next week or so. Also, you can drop off diapers to my office location anytime between 9:00am-2:00pm next week, Monday-Friday. Thanks for the support!