Tax News

Federal Tax Treatment of Casualty Losses From Federally Declared Disasters

Members Only, Tax News /

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 […]

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IRS Issues Final Regulations To Modernize Process for Sale of Taxpayers’ Property

Tax News /

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

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Tennessee Department of Revenue To Accept Schedule G Refund Claims Until Dec. 2

Tax News /

After thorough review, the Tennessee Department of Revenue has decided to accept Schedule G refund claims until Monday, Dec. 2. The department has updated its Schedule G refund webpage to announce this new deadline, as well as added a banner in TNTAP to alert taxpayers. In addition, the department is planning to send reminder letters to taxpayers

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IRS announces new relief for taxpayers affected by terrorist attacks in Israel: 2023 and 2024 returns and payments are now due Sept. 30, 2025; other relief available

For the Public, Tax News /

https://www.irs.gov/newsroom/irs-announces-new-relief-for-taxpayers-affected-by-terrorist-attacks-in-israel-2023-and-2024-returns-and-payments-are-now-due-sept-30-2025-other-relief-available

IRS announces new relief for taxpayers affected by terrorist attacks in Israel: 2023 and 2024 returns and payments are now due Sept. 30, 2025; other relief available Read More »

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