https://www.irs.gov/newsroom/irs-sets-2026-business-standard-mileage-rate-at-725-cents-per-mile-up-25-cents
IRS sets 2026 business standard mileage rate at 72.5 cents per mile, up 2.5 cents Read More »
The U.S. Postal Service (USPS) recently adopted final regulations affecting the postmark date of mailed items. Effective Dec. 24, 2025, the regulations clarify that a machine-applied postmark indicates the date of the “first automated processing operation” at a processing facility. Due to the new regulations, a mailed item’s postmark may be several days later than
USPS Adopts Regulations Updating Postmark Dates Read More »
https://www.tn.gov/content/dam/tn/revenue/documents/tax_manuals/december-2025/Tax-Manual-Updates.pdf
Tennessee Department of Revenue Updates Tax Manuals Read More »
The IRS recently updated frequently asked questions (FAQs) regarding changes to the limitation on the deduction for business interest expense (Fact Sheet 2025-09) and the Premium Tax Credit (Fact Sheet 2025-10) under the One Big Beautiful Bill (OBBB). For tax years beginning after Dec. 31, 2024, the OBBB amended Section 163(j) by: Allowing taxpayers to
https://www.irs.gov/newsroom/treasury-irs-provide-safe-harbor-for-taxpayers-claiming-the-carbon-capture-credit
Treasury, IRS provide safe harbor for taxpayers claiming the carbon capture credit Read More »
The U.S. Senate recently passed H.R. 1491, the Disaster Related Extension of Deadlines Act, which requires the IRS to treat the postponement of the federal tax return deadline due to a federally declared disaster or certain other events as an extension for purposes of calculating the limit on a tax refund. The legislation now goes to
Senate Passes Disaster Related Extension of Deadlines Act Read More »
https://www.irs.gov/newsroom/treasury-irs-allow-states-to-make-an-advance-election-to-participate-in-the-new-federal-tax-credit-for-individual-contributions-to-scholarship-granting-organizations-under-the-one-big-beautiful-bill
https://www.irs.gov/newsroom/treasury-irs-provide-guidance-on-new-tax-benefits-for-health-savings-account-participants-under-the-one-big-beautiful-bill
https://www.irs.gov/newsroom/treasury-irs-issue-guidance-on-trump-accounts-established-under-the-working-families-tax-cuts-notice-announces-upcoming-regulations
The IRS recently issued final regulations (T.D. 10037) regarding the application of the 1% excise tax on stock repurchases by publicly traded corporations under Sec. 4501. Introduced by the Inflation Reduction Act of 2022, the tax is based on the fair market value (FMV) of a corporation’s stock that certain corporations repurchase during a tax
IRS Issues Final Regulations on Stock Repurchase Excise Tax Read More »