https://www.irs.gov/newsroom/irs-takes-steps-to-help-prevent-refund-delays-by-accepting-duplicate-dependent-returns-with-an-ip-pin-for-2025-filing-season-taxpayers-encouraged-to-sign-up-soon-for-ip-pin-online-account
https://www.irs.gov/newsroom/interest-rates-decrease-for-the-first-quarter-of-2025
Interest rates decrease for the first quarter of 2025 Read More »
By: Joel Busch, CPA, JD, MST When it comes to the reasons behind a charitable donation by a business, the non-tax drivers normally take center stage – from the altruistic goals of the company to the potential public relations benefits it affords them. However, the tax benefits of a donation by a business often will
By: Emily D. Cokeley, Ph.D., CPA, and Shelby Follis, CPA Recent events in middle and east Tennessee have prompted the president to declare federal disasters. Such disasters could arise from fires, floods, storms, and other natural or man-made disasters, but at the time of publication, Tennessee has had two federally declared disasters in 2024: severe
Federal Tax Treatment of Casualty Losses From Federally Declared Disasters Read More »
https://www.irs.gov/newsroom/irs-announces-tax-relief-for-victims-of-tropical-storm-helene-in-tennessee-various-deadlines-postponed-to-may-1-2025
The IRS recently issued final regulations (T.D. 10011) intended to modernize the process for the government’s sale of taxpayers’ property after its seizure by levy. Proposed regulations (REG-127391-16) were issued in October 2023. In the preamble to the proposed regulations, the IRS wrote that the regulations under Sec. 6335 had not changed substantially since they
IRS Issues Final Regulations To Modernize Process for Sale of Taxpayers’ Property Read More »
https://www.irs.gov/newsroom/401k-limit-increases-to-23500-for-2025-ira-limit-remains-7000
401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000 Read More »
https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025
IRS releases tax inflation adjustments for tax year 2025 Read More »
The Social Security Administration (SSA) recently announced that individual taxable earnings of up to $176,100 annually will be subject to Social Security tax in 2025. The updated amount is an increase from $168,600 in 2024. This amount is the wage base limit that applies to earnings subject to the 6.2% OASDI tax (old age, survivors
Social Security Wage Base, COLA Set for 2025 Read More »
https://www.tn.gov/content/dam/tn/revenue/documents/notices/fae/24-09fe.pdf
Important Notice #24-09: Tax Filing Extensions – Hurricane Helene Read More »