June 7, 2023
The Department of the Treasury and the IRS recently issued Notice 2023-42, which will grant penalty relief for corporations that did not pay estimated tax in connection with the new corporate alternative minimum tax.
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June 6, 2023
Rep. David Kustoff (R-TN) and Rep. Judy Chu (D-CA) recently introduced the bipartisan, bicameral Filing Relief for Natural Disasters Act in the U.S. House of Representatives. Sen. Marsha Blackburn (R-TN), Sen. Catherine Cortez Masto (D-NV), Sen. John Kennedy (R-LA), and Sen. Chris Van Hollen (D-MD) introduced the companion bill in the Senate.
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June 1, 2023
The Tennessee Department of Revenue has recently issued Important Notice #23-14 regarding electric and hybrid vehicle registration fees.
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June 1, 2023
The Tennessee Department of Revenue recently updated various tax manuals and released a brief overview of the substantive updates.
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May 31, 2023
The Department of the Treasury and the IRS recently issued Notice 2023-44 to provide more details for applicants seeking section 48C credit allocations in the qualifying advanced energy project credit allocation program under the Inflation Reduction Act.
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May 25, 2023
The Tennessee Department of Revenue has recently issued Important Notice #23-13 regarding the aviation fuel tax cap in Tennessee.
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May 19, 2023
The IRS recently posted an update stating it has processed all paper and electronic individual returns received prior to January 2023 and is now opening mail within normal time frames.
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May 18, 2023
The Tennessee Department of Revenue has recently issued Important Notice #23-12 regarding the taxability of hemp-derived cannabinoids.
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May 17, 2023
The IRS recently released Rev. Proc. 2023-23, issued pursuant to Sec. 223(g), announcing that the maximum contribution to a health savings account and certain associated amounts will be higher in 2024.
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May 16, 2023
The IRS recently submitted a report to Congress evaluating a Direct File option for taxpayers and is taking steps to begin a pilot project for the 2024 filing season following a directive from the Treasury Department.
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