July 11, 2025
The U.S. Senate recently passed H.R. 517, the Filing Relief for Natural Disasters Act, which allows the IRS to grant tax relief when a governor declares either a disaster or state emergency rather than waiting for a federal disaster declaration.
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July 7, 2025
On July 3, the U.S. House of Representatives passed H.R. 1, the One Big Beautiful Bill Act (OBBB), sending it to President Donald Trump for his signature.
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July 2, 2025
Tennessee's traditional sales tax holiday on clothing, school supplies and computers begins at 12:01 a.m. on Friday, July 25, 2025, and ends at 11:59 p.m. on Sunday, July 27, 2025.
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June 27, 2025
The Tennessee Department of Revenue has made updates to tax manuals.
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June 23, 2025
The City of Burns voted to enact a municipal-level business tax. The effective date of the tax is August 1, 2025.
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June 12, 2025
The U.S. Department of the Treasury and the Internal Revenue Service today issued Notice 2025-33 extending and modifying the transition relief provided in Notice 2024-56 for brokers who are required to file Form 1099-DA, Digital Asset Proceeds From Broker Transactions to report certain digital asset sale and exchange transactions by customers.
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June 9, 2025
The IRS recently issued Rev. Proc. 2025-23, providing an updated list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13, as subsequently modified, apply.
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June 9, 2025
The Tennessee Department of Revenue has posted 2025 legislative summaries.
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June 5, 2025
Effective January 1, 2026, Public Chapter 526 (2025) amends the current law governing the taxation and regulation of sales of hemp-derived cannabinoid products.
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June 3, 2025
The IRS recently issued Notice 2025-27, providing interim guidance on the application of the Sec. 55 corporate alternative minimum tax (CAMT), which was enacted by the Inflation Reduction Act of 2022.
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