Tennessee Department of Revenue Provides Details on Upcoming TNTAP Changes
The Tennessee Department of Revenue has announced changes to TNTAP, Tennessee’s tax filing website.
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IRS, Treasury Announce Child Tax Credit Automatic Payments to Begin July 15
The IRS and Treasury Department recently announced that the first monthly payment of the expanded and newly-advanceable Child Tax Credit from the American Rescue Plan will be made on July 15.
View MoreTax Deadline Extension to Aug. 2 for Victims of Tennessee Disasters
Following the recent disaster declaration issued by the Federal Emergency Management Agency, the IRS announced that victims of severe storms, straight-line winds, tornadoes and flooding that began March 25, 2021 now have until Aug. 2, 2021 to file various individual and business tax returns and make tax payments.
View MoreSupport the Educational & Memorial Foundation of TSCPA Using the Amazon Shopping Mobile App
Amazon has now made it possible for purchases made using the Amazon Shopping mobile app to be included in its AmazonSmile donation program.
View MoreIRS to Recalculate Taxes on Unemployment Benefits; Refunds to Start in May
The IRS recently announced it will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan.
View MoreIRS Issues Guidance on Tax Deadline Postponement
The IRS recently issued Notice 2021-21 providing details on its postponement of the April 15 tax deadline for individuals to May 17, 2021.
View MoreIRS Clarifies Personal Protective Equipment to Prevent the Spread of COVID-19 is Tax Deductible
The IRS recently issued Announcement 2021-7 clarifying that purchases of personal protective equipment for the primary purpose of preventing the spread of coronavirus are deductible medical expenses.
View MoreIRS Announces Educators Can Deduct Out-of-Pocket Expenses for COVID-19 Protective Items
The IRS recently stated that eligible educators can deduct unreimbursed expenses for COVID-19 protective items to stop the spread of COVID-19 in the classroom.
View MoreIRS Delays Tax Filing Season to Begin Feb. 12
The IRS recently announced that the tax filing season will begin on Friday, Feb. 12, 2021, when the agency will begin accepting and processing 2020 tax year returns.
View MoreCongress Approves $900 Billion COVID-19 Relief Bill
On Dec. 21, 2020, Congress passed a $900 billion COVID-19 relief bill, the Consolidated Appropriations Act, 2021. Key features are $600 stimulus payments to individuals, $300 in added extended weekly unemployment benefits and $325 billion in small business aid.
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