Tennessee General Assembly Approves Two Sales Tax Holiday Weekends for 2020
The Tennessee General Assembly has announced it has approved two separate sales tax holiday weekends for the year 2020 only.
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Treasury, IRS Announce July 15 Tax Deadline to Remain with Automatic Filing Extension Available
The Treasury Department and IRS recently announced the tax filing and payment deadline of July 15 will not be postponed, but individual taxpayers unable to meet the due date can request an automatic extension of time to file until Oct. 15.
View MoreIRS Extends July 15 Deadlines and Provides Other Relief for Victims of Tennessee Storms
The IRS has announced taxpayers affected by the April tornadoes and severe storms in Tennessee will have until Oct. 15, 2020, to file various individual and business tax returns and make payments.
View MoreSBA Offers Tool to Match Small Businesses with PPP Lenders
The U.S. Small Business Administration recently announced the relaunch of Lender Match, an online tool that will be focused on connecting pandemic-affected small businesses who have not yet applied for or received an approved PPP loan with SBA lenders.
View MoreIRS Provides Relief to Help Retirement Plan Participants Affected by COVID-19
The IRS recently released Notice 2020-50 to help retirement plan participants affected by COVID-19 take advantage of CARES Act provisions providing enhanced access to plan distributions and plan loans.
View MoreTennessee to Offer Relief to Small Businesses Impacted by COVID-19 Pandemic
Governor Bill Lee recently announced federal Coronavirus Relief Funds will be available to assist Tennessee small businesses impacted by the COVID-19 pandemic.
View MoreIRS Provides Tax Relief for Taxpayers with Section 125 Cafeteria Plans
The IRS recently released guidance to allow temporary changes to section 125 cafeteria plans to extend the claims period for health flexible spending arrangements (FSAs) and dependent care assistance programs as well as allow taxpayers to make mid-year changes.
View MoreIRS Shares Instructions for Returning Economic Impact Payments Made to the Deceased
The IRS has added information on what to do with Economic Impact Payments made to deceased taxpayers to the FAQs in the Economic Impact Payment Section on IRS.gov.
View MoreUpdated Information: IRS Issues Alert for SSI, VA Recipients with Dependents to Act by May 5 to Quickly Add Money to Automatic Economic Impact Payment
The IRS has issued a special alert for several groups of federal benefit recipients to act by May 5 if they did not file a tax return in 2018 or 2019 and have dependents in order to quickly receive the full amount of their Economic Impact Payment.
View MoreIRS Publishes FAQs on CARES Act Economic Impact Payments
The IRS has published FAQs on the most common questions regarding the CARES Act Economic Impact Payments.
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