On July 3, the U.S. House of Representatives passed H.R. 1, the One Big Beautiful Bill Act (OBBB), sending it to President Donald Trump for his signature. The House passed the version of the bill that was passed July 1 in the Senate, which included the Senate manager’s amendment. The bill was signed into law by the […]
Congress Passes One Big Beautiful Bill Act Read More »
https://www.tn.gov/revenue/taxes/sales-and-use-tax/sales-tax-holiday/sth-traditional.html
Tennessee Sales Tax Holiday To Be July 25-27 Read More »
https://www.tn.gov/content/dam/tn/revenue/documents/tax_manuals/june-2025/Tax-Manual-Updates.pdf
Tennessee Department of Revenue Updates Tax Manuals Read More »
https://www.tn.gov/content/dam/tn/revenue/documents/notices/business/bus25-12.pdf
Important Notice #25-12: Enactment of Business Tax – City of Burns Read More »
https://www.irs.gov/newsroom/irs-provides-additional-transition-relief-for-brokers-who-are-required-to-file-information-returns-and-backup-withhold-on-certain-digital-asset-sales
The IRS recently issued Rev. Proc. 2025-23, providing an updated list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13, as subsequently modified, apply. Rev. Proc. 2015-13 had updated and revised general procedures under Sec. 446(e) to obtain the IRS’ automatic and advance nonautomatic consent to change an accounting
IRS Updates List of Automatic Accounting Method Changes Read More »
https://www.tn.gov/revenue/tax-resources/legal-resources/legislative-summaries/2025-legislative-summaries-.html
Tennessee Department of Revenue 2025 Legislative Summaries Read More »
https://www.tn.gov/content/dam/tn/revenue/documents/notices/tobacco/25-11tob.pdf
Important Notice #25-11: Taxability of Hemp-Derived Cannabinoid Products Read More »
The IRS recently issued Notice 2025-27, providing interim guidance on the application of the Sec. 55 corporate alternative minimum tax (CAMT), which was enacted by the Inflation Reduction Act of 2022. The guidance offers an optional simplified method for determining applicable corporation status under Sec. 59(k). The method substitutes the general adjusted financial statement income (AFSI)
IRS Provides Interim Simplified Method for Corporate Alternative Minimum Tax Read More »
The Tennessee Department of Labor & Workforce Development recently announced that it has fully modernized the state’s unemployment system with the implementation of Unemployment Tax functionality on http://www.jobs4TN.gov. The new system went live on May 27. If you previously filed Premium and Wage Reports or Payments through the TNPAWS or Third Party Upload Systems (TPU), you can
Tennessee Launches Modernized Unemployment Tax System Read More »