May 31, 2023
The Department of the Treasury and the IRS recently issued Notice 2023-44 to provide more details for applicants seeking section 48C credit allocations in the qualifying advanced energy project credit allocation program under the Inflation Reduction Act.
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May 25, 2023
The Tennessee Department of Revenue has recently issued Important Notice #23-13 regarding the aviation fuel tax cap in Tennessee.
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May 19, 2023
The IRS recently posted an update stating it has processed all paper and electronic individual returns received prior to January 2023 and is now opening mail within normal time frames.
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May 18, 2023
The Tennessee Department of Revenue has recently issued Important Notice #23-12 regarding the taxability of hemp-derived cannabinoids.
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May 17, 2023
The IRS recently released Rev. Proc. 2023-23, issued pursuant to Sec. 223(g), announcing that the maximum contribution to a health savings account and certain associated amounts will be higher in 2024.
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May 16, 2023
The IRS recently submitted a report to Congress evaluating a Direct File option for taxpayers and is taking steps to begin a pilot project for the 2024 filing season following a directive from the Treasury Department.
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May 15, 2023
The Tennessee Department of Revenue has recently issued Important Notices #23-04 through #23-11 regarding changes made by the Tennessee Works Tax Act (SB275/HB323), which was passed in April by the Tennessee General Assembly.
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May 2, 2023
The IRS and the U.S. Department of the Treasury recently issued proposed regulations REG-124064-19 regarding rules for certain repatriations of intangible property.
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May 1, 2023
The IRS and the U.S. Treasury Department recently issued Announcement 2023-16, stating that the IRS will return to in-person public hearings for proposed regulations with a telephone option available.
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April 27, 2023
The Tennessee General Assembly recently passed the Tennessee Works Tax Act (SB275/HB323), approving more than $400 million in tax cuts and marking one of the largest tax cuts in state history.
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