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What is the new tax rule for 2024?

New for 2024 The tax items for tax year 2024 of greatest interest to most taxpayers include the following dollar amounts: The standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023.

Does my LLC need to file Form 720?

If you own a business that deals in goods and services subject to excise tax, youll need to prepare a Form 720 quarterly to report the tax to the IRS. What Is IRS Form 720? - TurboTax Tax Tips Videos - Intuit TurboTax Small Business Taxes TurboTax Small Business Taxes

What is the Superfund tax rate for 2024?

Superfund Tax: The Superfund tax was reinstated beginning 1/01/23 and is adjusted annually for inflation. The inflation adjusted rate for 2024 is $0.26 cents per barrel of crude beginning 01/01/2024.

How to file Form 720 for Pcori fee?

How to complete Form 720 Step 1: Complete company information header. Step 2: Complete Part II, line 133(c) or (d) Step 3: Complete Part III lines 3 and 10, sign and date. Step 4: Complete the payment voucher. Step 5: Send the completed form, payment voucher, and check to the IRS. Form 720 and PCORI fee FAQs - PeopleKeep peoplekeep.com blog qas-on-form-720- peoplekeep.com blog qas-on-form-720-

What is the oil spill fee?

Effective July 1, 2023, the Oil Spill Prevention and Administration (OSPA) fee will increase from $0.085 per barrel to $0.091 per barrel of crude oil, petroleum products, and renewable fuel.

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