Important Notice #25-11: Taxability of Hemp-Derived Cannabinoid Products
https://www.tn.gov/content/dam/tn/revenue/documents/notices/tobacco/25-11tob.pdf
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Tax News
IRS Provides Interim Simplified Method for Corporate Alternative Minimum Tax
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)
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Tennessee Launches Modernized Unemployment Tax System
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
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Important Notice #25-10: Wine Sold on Winery Premises Exempt from Liquor-by-the-Drink Tax
https://www.tn.gov/content/dam/tn/revenue/documents/notices/alcohol/25-10.pdf
Important Notice #25-09: Uranium Enrichment and Nuclear Energy Production Facilities
https://www.tn.gov/content/dam/tn/revenue/documents/notices/sales/sales25-09.pdf
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A Refresher on the Deduction for Business Use of a Home
By: Emily D. Cokeley, Ph.D., CPA, and Joel Faidley, Ed.D., CMA Many taxpayers have businesses that they own and manage and seek ways to minimize their tax burden by claiming deductions for business use of their homes. These deductions can offer some tax relief; however, it is important to understand the requirements, limitations, exclusions and
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Important Notice #25-08: Bail Bondsmen/Court Clerk Quarterly Reports
https://www.tn.gov/content/dam/tn/revenue/documents/notices/bailbond/bailbondsmen2025.pdf
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Important Notice #25-07: Short-Term Rental Unit – 30 Day Occupancy
https://www.tn.gov/content/dam/tn/revenue/documents/notices/local_occupancy/occupancy25-07.pdf
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Important Notice #25-06: Vapor Products
https://www.tn.gov/content/dam/tn/revenue/documents/notices/tobacco/25-06tob.pdf
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IRS Announces HSA Inflation-Adjusted Maximum Contribution Amounts for 2026
The IRS recently announced that the maximum contribution amounts for health savings accounts (HSAs) and certain related benchmarks will be slightly higher in 2026. The IRS stated the updated amounts in Rev. Proc. 2025-19, issued pursuant to Sec. 223(g). The revenue procedure also includes the revised maximum amount that may be made newly available for excepted-benefit
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