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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...
Effective September 1, 2025, Alabama imposes an additional tax at the rate of 10% upon the gross receipts of any commercial entity operating an adult website for all sales, distributions, memberships,...
The Supreme Court of Alaska held that even when an administrative tribunal or court holds that certain property was wrongly determined as not taxable, taxes may only be assessed on this property for t...
The Arizona House of Representatives has enacted new provisions for transaction privilege tax related to sourcing of tangible personal property. The Department will establish a process by January 1, 2...
The Arkansas Department of Finance and Administration has issued instructions to retailers regarding the 2024 sales tax holiday. The holiday will take place from August 3-4. During this period, the fo...
The Employment Development Department (EDD) issued a release that informing that employers in San Diego and Ventura directly hit by emergencies can request an extension of up to two months to file 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...
Effective June 1, 2024, the Florida sales tax rate imposed on the total rent charged for renting, leasing, letting, or granting a license to use real property (also known as "business rent tax" or "co...
Georgia has enacted legislation allowing rural dentists as well as rural physicians to receive a $5,000 tax credit for each year they live and practice in a rural Georgia county, up to five years. The...
Hawaii Gov. Josh Green has issued another proclamation declaring an emergency related to affordable housing. In his Sixth Proclamation Relating to Affordable Housing, he suspends a statutory section r...
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 has published an information bulletin discussing the municipal and county cannabis retailers’ occupation tax rate changes for sales and use tax purposes. Effective July 1, 2024, certain tax...
The Indiana gasoline use tax rate for the month of May 2024, is $0.204 per gallon. Departmental Notice #2, Indiana Department of Revenue, May 1, 2024...
The Iowa legislature passed a bill to accelerate future individual income tax rate decreases and corresponding alternate individual income tax rate reductions. The decreases move from January 1, 2026 ...
The Kansas DOR announces the local sales and use tax rate changes below for the quarter beginning July 1, 2024.The notice can be viewed on the department's website.City Rate ChangesBenton increases it...
Kentucky created an investment tax credit for the purchase or lease of eligible equipment or services that expand broadband services in the state. Eligible taxpayers can use the credit to reduce their...
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...
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...
Maryland enacted legislation increasing the amount of the Maryland income tax subtraction from gross income for certain volunteer police officers to $7,000 beginning in tax year 2024. The legislation ...
The interest rates on the underpayment and overpayment of Massachusetts taxes are unchanged for the period April 1, 2024, through June 30, 2024.The rate for overpayments is 7%.The rate for underpaymen...
The Michigan Department of Treasury has published a notice providing homestead owners and renters with information regarding the availability of the income tax credit for property taxes paid on a home...
Minnesota taxpayers' losses associated with residential property they owned on Bainbridge Island in the State of Washington were passive activity losses that they could not use to offset their nonpass...
The Mississippi Legislature has reenacted and amended a business income tax credit provision for Class II and Class III railroads undertaking qualified railroad reconstruction or replacement and new r...
A Missouri rule regarding the withholding of income tax from wages has been amended to, among other things:add guidance on withholding from retirement income;update filing information; andupdate infor...
Montana Gov. Greg Gianforte announced the deadlines to apply for two property tax relief programs have been extended to give eligible Montanans with a substantial hardship extended time to apply for r...
Nebraska made changes to the corporate and personal income tax credits for retailers of biodiesel fuel that clarify:the definition of motor fuels and motor fuel dispensers;the 3-year period for determ...
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...
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 ...
The New Mexico Attorney General's Office has publicly issued a letter stating that mutual domestic water consumers associations (MDWCA) are exempt from property taxes. MDWCAs are community water syste...
Enacted as part of New York's 2024-25 budget package, A.B. 8808 creates sales and use tax exemptions for residential energy storage systems and revises insurance tax provisions concerning the life ins...
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...
A federal law change effective 2023 impacts the residency status of military servicemembers and their civilian spouses for state income tax purposes. These individuals can now elect to use the service...
Oklahoma has amended the conditions by which a tax-delinquent property in a county with a population in excess of 100,000 people may be exempted from a tax sale. In order to be excluded from a tax sal...
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...
Recently enacted Tennessee legislation provides that the Commissioner may approve an alternative date for filing and paying the premium tax due for captive insurance companies on a fiscal year end. Th...
The Texas Comptroller has issued guidance as to the limitations period for assessments and refunds of franchise tax when a taxpayer requests an extension of the deadline to file and pay any tax due on...
Utah has revised guidance it provides on reporting instructions for holders of unclaimed property. The revised guidance discusses Utah’s 2024 unclaimed property laws concerning the reporting require...
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...
Under the Virginia firearm safety device tax credit, the definition of "firearm safety device" has been expanded for taxable years beginning on and after January 1, 2024, to include any device that, w...
Medical tattoo services are subject to Washington business and occupation (B&O) tax under the service and other activities classification. The service provider must retain documentation, including...
West Virginia enacted legislation that provides a personal income tax exemption to private trust companies licensed in the state. A private trust company is a corporation or limited liability company ...
Wisconsin amended its law to provide that a person eligible to claim an angel investment tax credit may sell or otherwise transfer the credit. The provision applies to an angel investment tax credit t...
A Wyoming property tax exemption has been authorized for long-term homeowners. An exemption in an amount of 50% of the assessed value is available to an owner of residential real property used as a pr...
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.