IRS Announces HSA Inflation-Adjusted Maximum Contribution Amounts for 2026
The IRS recently announced that the maximum contribution amounts for health savings accounts (HSAs) and certain related benchmarks will be slightly higher in 2026.
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Basis-Shifting Transaction-of-Interest Regulations To Be Removed
The U.S. Department of the Treasury and the IRS recently announced the intent to remove basis-shifting transaction-of-interest (TOI) regulations.
View MoreTennessee Department of Revenue: Extensions for April Storms To Be Issued on a Case-by-Case Basis
As a result of the severe storms, straight-line winds, tornadoes, and flooding that began on April 2, 2025, the Federal Emergency Management Agency issued a disaster declaration for the entire state of Tennessee.
View MoreIRS: All of Tennessee qualifies for disaster tax relief; various deadlines postponed to Nov. 3
The Internal Revenue Service announced today tax relief for individuals and businesses in the entire state of Tennessee affected by severe storms, straight-line winds, tornadoes and flooding that began on April 2, 2025.
View MoreImportant Notice #25-04: Natural Disaster Relief Refund
Tennessee provides individuals affected by any federally declared natural disaster occurring in this state with relief in the form of a sales tax refund on sales tax paid on certain items used to restore, repair, replace, or rebuild damaged or destroyed items.
View MoreIRS reminder: Disaster victims in twelve states have automatic extensions to file and pay their 2024 taxes
The Internal Revenue Service today reminds individuals and businesses in areas covered by 2024 disaster declarations that their 2024 federal income tax returns and tax payments for tax year 2024 are due on Thursday, May 1, 2025.
View MoreFinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons, Sets New Deadlines for Foreign Companies
The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule exempting U.S. companies and persons from reporting beneficial ownership information (BOI), while requiring foreign entities registered to do business in the U.S. to report BOI under new deadlines. This rule redefines "reporting company" to include only foreign entities and exempts domestic entities from BOI reporting requirements.
View MoreAn Update on the Federal Disaster Relief Act and Qualified Disaster Losses
In recent years, there have been numerous natural disasters in Tennessee and neighboring states, leading to substantial economic losses.
View MoreUsing AI for an R&D Study?
“HAL, do a research and development (R&D) study.”
View MoreImportant Notice #25-03: Enactment of Business Tax: City of New Hope
The City of New Hope voted to enact a municipal-level business tax.
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