IRS Announces New Capabilities of Tax Pro Account
As part of a larger effort to improve technology, the IRS recently announced an expansion of Tax Pro Account capabilities.
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All Featured (39) For the Public (148) Tax News (424) Accounting & Auditing (206) Business & Industry News (124) Regulatory News (112) Legislative News (48) Chapter News (17) Young CPAs (60) Students (90) TSCPA Press Releases (47)Showing : 41–50 of 424
IRS Raises Per Diem Standard Rates for Business Travel
The IRS recently released Notice 2023-68, which raises the special per diem rates by which taxpayers may substantiate ordinary and necessary business expenses of travel starting Oct. 1.
View MoreImportant TNTAP Updates for Fall 2023
The Tennessee Department of Revenue reports that TNTAP will undergo maintenance later this month.
View MoreIRS Orders Immediate Stop to New Employee Retention Credit Processing
Amid rising concerns about a flood of improper Employee Retention Credit (ERC) claims, the IRS announced an immediate moratorium through at least the end of the year on processing new claims for the pandemic-era relief program to protect honest small business owners from scams.
View MoreIRS Clarifies Rules for New Corporate Alternative Minimum Tax
The U.S. Treasury Department and the IRS recently issued Notice 2023-64 to provide additional interim guidance designed to help corporations determine whether the new corporate alternative minimum tax applies to them and how to compute the tax.
View MoreIRS Announces Businesses Must e-file Form 8300 for Cash Payments Over $10,000 in 2024
The IRS recently announced that starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return.
View MoreIRS Issues Guidance on State Tax Payments
The IRS recently issued Notice 2023-56 providing guidance on the federal tax status of refunds of state or local taxes and certain other payments made by state or local governments to individuals.
View MoreTennessee Department of Revenue Issues Sales and Use Tax Exemption for Firearm Safes and Safety Devices
The Tennessee Department of Revenue has recently issued Important Notice #23-16 regarding a permanent sales and use tax exemption for firearm safes and firearm safety devices.
View MoreIRS Announces Administrative Transition Period for New Roth Catch-up Requirement
The IRS recently announced an administrative transition period that extends until 2026 the new requirement that any catch-up contributions made by higher‑income participants in 401(k) and similar retirement plans must be designated as after-tax Roth contributions.
View MoreIRS Provides Guidance for Electronic Filing Exemptions and Waivers
The IRS recently issued Notice 2023-60, providing guidance regarding how to request religious exemptions, hardship waivers and other administrative exemptions from electronic filing requirements included in final regulations (T.D. 9972) issued in February.
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