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Reflecting on the 2024 tax filing season, the IRS released major filing numbers for the season. The agency highlighted a variety of improvements that dramatically expanded service for mill...
The IRS has wrapped up the 2024 Dirty Dozen campaign, with a warning to taxpayers to beware of promoters selling bogus tax avoidance strategies. Promoters have been peddling elaborate bogus...
The IRS released statistics that showed 1,644 tax and money-laundering cases related to COVID fraud, totaling $9 billion investigated by the Criminal Investigation (CI). CI is the law enforce...
The IRS updated frequently asked questions (FAQ) on New, Previously Owned and Qualified Commercial Clean Vehicle Credits. These FAQs provide guidance on how the Inflation Reduction Act of 2022 r...
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...
The IRS has issued an announcement that addresses the federal income tax treatment of amounts paid for the purchase of energy efficient property and improvements. Taxpayers who receive rebates...
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...
The Alabama Department of Revenue announced an extension of the due date for a pass-through entity to elect to be taxed at the entity level for certain taxpayers for the 2023 tax year. Entities who to...
Alaska Gov. Mike Dunleavy announced he is sponsoring legislation that will support Alaska’s agriculture and timber industries. The bill reduces the tax burden of businesses in the agriculture and ti...
Arizona has updated its publication on the Arizona pass-through entity (PTE) tax election to provide additional answers to frequently asked questions (FAQs). The new FAQs include:What happens if a par...
The Arkansas Department of Finance and Administration may only seek judicial relief from the Tax Appeals Commission relating to sales and use tax if the aggregate of sales and use tax on the proposed ...
Updated guidance is issued on internet sales for purposes of California sales and use tax. Internet sales are treated in the same way as sales made at retail stores, by sales representatives, over the...
The Colorado Department of Revenue has adopted the following new individual income tax rules:Rule 39-22-104(3)(d), relating to the addback for state income taxes deducted in determining federal taxabl...
The annual revision of required forms that must be completed by tobacco products manufacturers and filed with either the Department of Revenue Services or the Office of the Attorney General has been a...
Delaware adopted rules that provide guidance on tax refund intercept requests from other states, including:access to information contained in a taxpayer's Delaware and federal personal income tax retu...
The District of Columbia (DC) Mayor Muriel Bowser testified in support of her Fiscal Year 2025 budget. The proposed budget includes tax increases to the:Paid Family Leave tax on businesses; and911 fee...
Florida has issued the severance tax rates for the production of gas and sulfur effective July 1, 2024, through June 30, 2025.Gas and Sulfur Severance Tax RatesDuring that time period:production of ga...
Georgia has enacted legislation creating new benefits for first responders diagnosed with Post-Traumatic Stress Disorder. The legislation also creates a subtraction from Georgia taxable net income for...
The Hawaii Legislature has approved a bill that would update Hawaii’s Internal Revenue Code tie-in date for computing corporate and individual income tax liability. If signed by the governor, Hawaii...
The Idaho State Tax Commission has issued a release announcing that veterans with disabilities are eligible to have their property tax bill reduced by as much as $1,500 on their Idaho residence and up...
Illinois announced the motor fuel use tax rates effective July 1, 2024, through December 31, 2024. The motor fuel tax is comprised of two parts, "Part A" and "Part B.""Part A" RatesThe total combi...
For Indiana property tax purposes, the Board of Tax Review’s (Board’s) determination was affirmed because the county assessor failed to demonstrate that the Board erred when it established the mar...
Iowa has enacted the Major Economic Growth and Attraction (MEGA) Program, which includes a Qualifying Investment income tax credit and a withholding tax credit.In order to receive tax incentives, a bu...
Kansas has authorized a sales tax exemption for all sales of tangible personal property or services purchased by a pregnancy resource center or residential maternity facility. H.B. 2465, Laws 2024, e...
The Kentucky General Assembly passed a bill that included an exemption from sales and use tax for the sale of currency or bullion and a tax amnesty program. However, Gov. Andy Beshear vetoed these pro...
Effective July 1, 2024, through June 30, 2025, the Louisiana natural gas severance tax rate has been set at 9.8¢ per 1,000 cubic feet (MCF) measured at a base pressure of 15.025 pounds per square inc...
Effective for property tax years beginning April 1, 2025, solar energy equipment is exempt if the energy is collated with one or more net energy billing customers that subscribe to at least 50% of the...
Maryland has enacted legislation allowed licensed or registered cannabis businesses to deduct their ordinary and necessary business expenses for Maryland income tax purposes. Maryland previously allow...
Effective beginning with the 2024 tax year, Massachusetts provides corporate excise and personal income tax credits for employers in the state that offer approved workforce training programs to qualif...
From June 1, 2024 through June 30, 2024, the Michigan prepaid tax rate for gasoline increases to 18.8 cents per gallon. The prepaid rate for diesel fuel increases to 21.3 cents per gallon. Revenue Ad...
Starting July 1, 2024, Beltrami County imposes a 0.625% sales and use tax. The Minnesota Department of Revenue will administer this tax. Local Sales Tax Notice, Minnesota Department of Revenue, April ...
A Mississippi sales and use tax industrial exemption is enacted for sales, leases, or other retail transfers of fixed-wing aircraft to, or to be used by, certified common carriers in the transport of ...
The interest rate on all qualifying Missouri tax refunds is 3.1% for the period from July 1, 2024, to September 30, 2024. The interest rate is 3% for the period from April 1, 2024 to June 30, 2024. St...
Montana issued a reminder concerning pass-through entity tax (PTET) returns that push PTET overpayments to affected owners. Overpayments of the PTET cannot be allocated to affected owners. When a pass...
Effective beginning with the 2025 tax year, the Cast and Crew Nebraska Act provides corporate and personal income tax credits to production companies for qualified production expenses in the state. El...
In the 2024 general election, Nevada voters will decide if diapers will be exempt from all sales and use taxes effective January 1, 2025. If approved by the voters, the exemption would be in effect un...
New Hampshire has provided annual guidance for the credit for donations to scholarship organizations that may be claimed against the business profits tax and the business enterprise tax. The allowable...
New Jersey has updated its gross income tax allocation sourcing for the receipts of business income guidance. The guidance is updated to clarify the taxability of nonoperational income and nonunitary ...
The New Mexico Taxation and Revenue Department has issued a new publication, Tax Bulletin B-200.38, providing guidance for using a new gross receipts tax (GRT) credit for legal services provided to cl...
For cigarette tax purposes, the New York State Division of Tax Appeals (DTA) determined that a taxpayer was properly subject to a penalty for possession of cartons of unstamped cigarettes. In this cas...
A taxpayer’s petition challenging a North Carolina sales and use tax assessment was barred by the doctrine of sovereign immunity because the petition was untimely filed. In this matter, the taxpayer...
North Dakota issued a newsletter summarizing legislation enacted in 2023 affecting the corporate and personal income taxes. Among the topics covered are individual income tax rate reductions, deductio...
The Ohio Board of Tax Appeals has held that a city can assess income tax liability to a non-resident employee for work performed outside of a city under H.B. 197. The temporary state law allowed munic...
Oklahoma amended the income tax credit for taxpayers participating in the U.S. Small Business Administration loan guaranty program. The credit is available to state banking associations, national bank...
Oregon has amended the property tax exemption for farm machinery and equipment to clarify that the exemption does not include land or buildings. Furthermore, farm machinery and equipment need not be t...
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...
Rhode Island has announced that it has extended the deadlines for taxpayers to file returns and pay tax due on April 15, 2024 to July 15, 2024. Taxpayers do not need to file any additional forms or ot...
The taxpayer's sale and rental of digital textbooks (eTextbooks) was exempt from South Carolina sales tax because such transactions fell within the exemption for textbooks. The eTextbooks could be rea...
South Dakota may adjust the assessed value of agricultural land based on the presence of shelterbelts. Shelterbelts include the following items placed specifically for conservation purposes:field shel...
The definition of “qualified data center” is amended, for Tennessee sales and use tax purposes, to include a data center that previously made the required capital investment and previously created...
The Texas Comptroller of Public Accounts has determined the average taxable price of crude oil for the reporting period March 2024 is $46.56 per barrel for the three-month period beginning on December...
Utah announced the following local tax rate changes, effective July 1, 2024:Brigham City repeals its 0.25% mass transit tax (the new combined sales tax rate in Brigham City is 6.35%); andIron County i...
Vermont revised a fact sheet providing examples of items that are exempt from, or subject to, sales and use tax. The fact sheet contains information meant only as a general guideline. It provides exam...
Virginia announced that the fuel tax rates for the period July 1, 2024, through June 30, 2025, are as follows:gasoline—30.8 cents per gallon;diesel fuel—31.8 cents per gallon;blended fuels (gasoli...
The Washington Department of Revenue has announced local sales and use tax rate changes effective July 1, 2024.Local Rate ChangesMason County increases its local rate by 0.1% for a combined rate of 8....
Updated guidance is issued regarding the West Virginia sales and use tax exemption for small arms and ammunition. Effective July 1, 2024, "small arms" are defined as any portable firearm, including th...
The Wisconsin Department of Revenue has issued Wisconsin Tax Bulletin Number 225 (April 2024). The Bulletin includes:New Tax Laws;General Updates and Reminders;Income and Franchise Tax Updates and Rem...
The Wyoming Department of Revenue has announced that beginning July 1, 2024, the lodging tax rate in Johnson County is 5%. Sales/Use and Lodging Tax Rates By Locality Wyoming Department of Revenue, Ap...
The 2024 tax filing season begins Monday, January 29, 2024.
We make filing your taxes convenient for you. Please schedule your appointment virtually or visit our office for a consultation.
To go digital, please follow the steps below:
- Request an Intuit link by emailing info@figueroasincometax.com or click on the Message Us button below
- You will receive an email with a link within 24 hours.
- Follow the link to create an account and follow the steps outlined.
If you have questions, please call our main line at (310) 830-5180 and leave a message. Please be patient; if we cannot pick up, please be sure to leave a message. We will return your call as quickly as possible.
Thank you for your patience and understanding!
Check your E-file status.
Our office is proud to be a certified e-file provider! Our office e-files 96% of client returns to become a paperless agency. We immediately file your taxes electronically to the IRS after getting your authorization signature when you have your taxes done at our office. We will notify you if there are any issues with your tax return.
To find out the status of your refund check, you can visit the official IRS website and click on Where's My Refund? You will need your social security number, filing status, and the exact refund amount conveniently located in the Your Copy folder we provided.
As you browse our website, you will see that we have highlighted background information on our firm and the services we provide. We have also included valuable resources such as informative articles (in our Newsletters section) and interactive financial calculators (in our Financial Tools section). In addition, we have taken the time to gather many links to external websites that we think would interest our clients and visitors (in our Links section). Finally, please feel free to contact us with any questions or comments you may have - we would love to hear from you.