September 12, 2023
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.
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September 5, 2023
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.
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August 30, 2023
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.
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August 30, 2023
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.
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August 25, 2023
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.
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August 14, 2023
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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August 3, 2023
The U.S. Department of the Treasury and the IRS recently issued proposed regulations identifying certain monetized installment sale transactions and substantially similar transactions as listed transactions.
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July 26, 2023
The U.S. Department of the Treasury and the IRS recently issued final regulations T.D. 9978 allowing the assessment of erroneous COVID-19-related tax credit refunds.
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July 26, 2023
With the IRS making progress in its ongoing effort related to Employee Retention Credit claims, the agency said it has entered a new phase of increasing scrutiny on dubious submissions while renewing consumer warnings against aggressive marketing.
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July 24, 2023
The IRS recently issued Notice 2023-55, announcing temporary relief for taxpayers in determining whether a foreign tax is eligible for the Foreign Tax Credit under Internal Revenue Code Sections 901 and 903.
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