November 23, 2022
The IRS recently issued Notice 2022-62, including a list of required amendments for Section 403(b) plans, which are retirement plans for certain employees of public schools and Section 501(c)(3) tax-exempt organizations and certain ministers.
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November 22, 2022
The U.S. Treasury Department recently issued proposed regulations REG-112096-22 concerning the foreign tax credit.
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November 15, 2022
The Inflation Reduction Act of 2022 was signed into law by President Biden on Aug. 16. Interestingly, this Act began its journey into becoming law under a completely different name and year. The Act was originally introduced to the House of Representatives in September 2021 as the Build Back Better bill.
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November 14, 2022
The Tennessee Department of Revenue recently issued Important Notice #22-15, changing the local tax rate in Lewis County.
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November 7, 2022
The U.S. Treasury Department and IRS recently announced the expansion of one of their programs for approving retirement plans.
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November 4, 2022
The Tennessee Department of Revenue recently issued Important Notice #22-14, expanding the farm equipment and machinery sales and use tax exemption.
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October 31, 2022
The IRS recently announced that the deadline to file and pay federal income taxes or request an automatic six-month extension will be Tuesday, April 18, 2023.
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October 27, 2022
The IRS recently revealed it is offering a new way to submit anonymous reports regarding third-party vendors promoting improper claims for the employee retention credit that was implemented in response to the COVID-19 pandemic.
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October 25, 2022
The IRS has launched a pilot program utilizing speech recognition on its Practitioner Priority Service® (PPS) phone line.
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October 21, 2022
The IRS recently announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022.
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