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Understanding Florida Homestead

November 4, 2022 CSBB Blog

There are three separate aspects of homestead protections under Florida law. These include: asset protection, reduction(s) in property taxes, and safeguards for the surviving spouse and/or minor children of the deceased owner of a Florida homestead. Homestead: Asset Protection Homestead property—defined as one-half acre if located within a municipality, or…

IRS Issues Rev. Proc. 2022-19 to Provide Relief for S Corporations and their Shareholders

October 11, 2022 Business Entities and Transactions

The IRS issued Rev. Proc. 2022-19, which provides simplified procedures for S corporations and their shareholders to resolve six frequently-encountered issues. For these issues, Rev. Proc. 2022-19 allows S corporations and their shareholders to obtain relief without requesting a private letter ruling (PLR). The IRS identified these issues as not…

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