1212 Haywood Road, Building 100 Greenville, SC 29615
Phone 864.232.1040
Fax 864.232.2240
Newsletters
Tax Alerts
Tax Briefing(s)

2022 MOTOR FUEL INCOME TAX CREDIT - Use this form determine if you are eligible to claim this credit on your 2022 SC tax return.  The first page has a flowchart to help you determine your eligility.  Page 2 is the Form I-385.  If married filing a joint return, complete a separate form for each of you.  Pages 3-5 contain instructions and helpful information to address most questions and circumstances such as selling, trading in, or a total loss of a vehicle during the year.  Please open this file and then either save it to your computer.  After completing the form, wither email it to us or print it and include with the other tax documentation that you bring to us.  Please complete the YES/NO questions on page 1 and then proceed to page 2 and complete every field for each vehicle a credit is to be claimed.  All fields must be completed. 


This schedule is not all-inclusive, but it covers most of the common deductions and credits.  The General Information section helps us with the basic information needed for all returns.  There is also a section to summarize your rental and self-employment business income and related expenses.


2022 MOTOR FUEL INCOME TAX CREDIT - Use this form determine if you are eligible to claim this credit on your 2022 SC tax return.  The first page has a flowchart to help you determine your eligility.  Page 2 is the Form I-185.  If married filing a joint return, complete a separate form for taxpayer and spouse.  Pages 3-5 contain instructions and helpful information to address most questions and circumstances such as selling, trading in, or a total loss of a vehicle during the year.  Please print this form out and complete it completely.  The required information is noted with "---->" in the left margin.  All fields must be completed.  Each SC resident may claim the credit for up to 2 eligible vehicles.


This annual newsletter briefly update and other information we feel necessary to share with you.  Also, included is a brief explanation of the SC Refundable Motor Fuel Income Tax Credit that can be claimed on your 2022 returns.  See "SC Form I-385" above for the form referenced in this newsletter.


The Internal Revenue Service is still working on the details of how it is going to help taxpayers that may have fallen for deceptive marketing that led them to improperly receive employee retention tax credits.


The IRS has announced that calendar year 2023 would continue to be regarded as a transition period for enforcement and administration of the de minimis exception for reporting by third party settlement organizations (TPSO) under Code Sec. 6050W(e).


The IRS has released the annual inflation adjustments for 2024 for the income tax rate tables, plus more than 60 other tax provisions. The IRS makes these cost-of-living adjustments (COLAs) each year to reflect inflation.


The 2024 cost-of-living adjustments (COLAs) that affect pension plan dollar limitations and other retirement-related provisions have been released by the IRS. In general, many of the pension plan limitations will change for 2023 because the increase in the cost-of-living index due to inflation met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged.


The IRS reminded taxpayers who may be entitled to claim Recovery Rebate Credit (RRC) to file a tax return to claim their credit before the April-May, 2024 deadlines. It has been estimated that certain individuals are still eligible to claim RRC for years 2020 and 2021. The deadlines to file a return and claim the 2020 and 2021 credits are May 17, 2024, and April 15, 2025, respectively. Additionally, the IRS reminded that taxpayers must first file a tax return to make their RRC claims irrespective of income slab and source of income.


The Internal Revenue Service is looking to improve its customer service metrics as well as improve its technology offerings in the coming tax filing season.


The Internal Revenue Service announced the launch of the first phase of rolling out business taxpayer accounts, as well as enable taxpayers to respond to notices online.