IRS Announces Tax Filing Season to Begin Jan. 24
The IRS recently announced that it will begin accepting and processing 2021 tax year returns on Monday, Jan. 24, 2022.
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Tennessee Department of Revenue Repeals Drop Shipment Rule
The Tennessee Department of Revenue recently issued Important Notice #22-01 repealing the Sales and Use Tax Rule 96 regarding drop shipments.
View MoreOMB Issues New Guidance on Single Auditing for Pandemic Relief Programs
The Office of Management and Budget recently issued Addendum No. 1 to the 2021 Compliance Supplement, providing guidance for auditing funds received from the Coronavirus State and Local Fiscal Recovery Fund and an update to the Education Stabilization Fund program section.
View MoreIRS Sets April 18 as Tax Deadline
The IRS recently announced that taxpayers will have until April 18, 2022, to file and pay income taxes or to request an automatic six-month extension.
View MoreIRS Revises Form 1024 to Allow Electronic Filing
As part of ongoing efforts to improve service for the tax-exempt community, the IRS has revised Form 1024, Application for Recognition of Exemption Under Section 501(a) or Section 521 of the Internal Revenue Code, to allow electronic filing.
View MoreReminder: Deferred Social Security Tax Payment Due Jan. 3 for Many Employers and Self-Employed
The IRS is reminding employers and self-employed individuals that chose to defer paying part of their 2020 Social Security tax obligation that a payment is due on Jan. 3, 2022.
View MoreTennessee Department of Revenue Extends Franchise and Excise Tax Deadline for December Storm Victims
The Tennessee Department of Revenue recently issued Important Notice #21-19, extending the franchise and excise tax filing and payment deadlines to May 16, 2022, for those affected by the December tornadoes, storms and flooding.
View MoreStandard Mileage Rates to Increase in 2022
The IRS recently issued Notice 2022-03, which increases the rate by which taxpayers may compute their deductions for costs of using an automobile for business purposes for the 2022 tax year.
View MoreIRS Extends 2021 Tax-Filing Deadline, Other Deadlines to May 16 for Tennessee Tornado Victims
The IRS recently announced that victims of this month’s tornadoes and storms in Tennessee will have until May 16, 2022, to file various individual and business tax returns and make tax payments.
View MorePresident Declares Disaster for Nine Tornado-Stricken Tennessee Counties
President Joe Biden has declared a disaster in nine Tennessee counties hit by tornadoes and other storms on Dec. 10-11.
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