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...
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...
ME - Internal revenue code conformity
Maine enacted legislation updating its Internal Revenue Code conformity date to December 31, 2023 for tax years beginning on or after January 1, 2023. This means that all references to the Internal Re...
NJ - Earned income tax credit discussed
The New Jersey Department of the Treasury encourages eligible taxpayers to take advantage of earned income tax credit. For 2023tax year, eligible taxpayers could receive a refundable credit up to USD ...
PA - Expansion of property tax rebate program announced
The Pennsylvania Department of Revenue has released a Tax Update that includes details on the expanded Property Tax/Rent Rebate Program which is now open for application for eligible older Pennsylvani...
VT - Local option tax rate changes announced
Vermont has announced local option sales tax, local option meals and rooms tax, and alcoholic beverage tax, and local option rooms tax rate changes effective July 1, 2024.Local Option Sales TaxThe fol...
DMSimon CPA, LLC, founded in 1989, is committed to helping clients find practical answers to key questions, whether those questions are with regard to businesses, business owners, individuals, estates, or trusts.
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The professionals of DMSimon CPA focus on applying knowledge of advanced taxation, estate and financial planning, and business management to client situations to:
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