August 7, 2025
The Internal Revenue Service today announced that, as part of its phased implementation of the One Big Beautiful Bill Act, there will be no changes to certain information returns or withholding tables for Tax Year 2025 related to the new law.
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July 24, 2025
On July 24, the Filing Relief for Natural Disasters Act was signed into law by President Donald Trump.
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July 15, 2025
Qualified Opportunity Funds (QOFs) were first introduced by the 2017 Tax Cuts and Jobs Act, allowing taxpayers to defer capital gains by investing in low-income community tracts for an extended period as a method of promoting economic development in distressed areas.
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July 15, 2025
TSCPA’s State Tax Committee met with representatives from the Tennessee Department of Revenue (DOR) and the Tennessee Department of Labor & Workforce Development (DOL) at the State Tax Liaison meeting on May 29.
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July 14, 2025
Below are descriptions of new provisions from the One Big Beautiful Bill Act, signed into law on July 4, 2025, as Public Law 119-21, that go into effect for 2025.
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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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