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Business Execs Less Optimistic on Economy

Business executives’ outlook on the global economy slid sharply over the past year, amid concerns about trade conflict and other business impacts, according to the first-quarter AICPA Economic Outlook Survey, which polls chief executive officers,…
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IRS concludes "Dirty Dozen" list of tax scams

IRS concludes "Dirty Dozen" list of tax scams for 2019: Agency encourages taxpayers to remain vigilant year-round. WASHINGTON — The Internal Revenue Service today wrapped up issuing its annual "Dirty Dozen" list of tax scams. The IRS reminds…
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IRS finalizes centralized partnership audit regulations

The IRS on Friday issued final regulations (T.D. 9844) that implement the centralized partnership audit regime that now governs partnership audit procedures. The final regulations affect partnerships for tax years beginning after Dec. 31,…
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IRS Activities Following the Shutdown

The IRS has reopened following the end of the government shutdown, and IRS employees are working hard to resume normal operations and help taxpayers as much as possible. As the IRS resumes operations, there are some important pieces of information…
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Government shutdown ends in time for tax season

The partial government shutdown ended on Friday, allowing the full IRS workforce to return to work on Monday, Jan. 28 — the start of tax filing season for individuals. The Further Additional Continuing Appropriations Act, 2019, H.J. Res.…
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Sales Surtax Information for 2019

In addition to the state sales and use tax rate, individual Florida counties may impose a sales surtax called discretionary sales surtax or local option county sales tax. Sales tax dealers must collect both discretionary sales surtax and the…
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State Sales Tax Rate Decreases

Effective January 1, 2019, the state sales tax rate imposed under section 212.031, Florida Statutes, on the total rent charged for renting, leasing, letting, or granting a license to use real property is decreased from 5.8% to 5.7%. Some examples…
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Tax Reform changes depreciation limits on luxury automobiles

The Tax Cuts and Jobs Act changed depreciation limits for passenger vehicles placed in service after Dec. 31, 2017. If the taxpayer doesn’t claim bonus depreciation, the greatest allowable depreciation deduction is: $10,000 for the…
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U.S. Wages See 3.5% Growth

Wages for U.S. workers grew 3.5 percent over the last year, increasing the average wage level by $0.95 to $27.81 an hour, according to the ADP Research Institute®Workforce Vitality Report (WVR) released today.  The growth, accelerating to…