February 9, 2023
As part of its efforts to improve services for taxpayers, the IRS recently announced that people electronically filing their Form 1040-X, Amended U.S Individual Income Tax Return, will for the first time be able to select direct deposit for any resulting refund.
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February 6, 2023
As part of a continuing effort to improve service this tax season, the IRS announced special Saturday hours for the next four months at Taxpayer Assistance Centers across the country.
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February 3, 2023
The IRS recently issued Notice 2023-16, modifying the definitions of certain vehicle classifications for the new, previously owned and qualified commercial clean vehicle credits.
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January 26, 2023
In a recently published overview of upcoming updates to its Franchise and Excise Tax Manual, the Tennessee Department of Revenue stated it has revised its position on foreign-derived intangible income.
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January 25, 2023
The IRS recently announced that businesses can now file Form 1099-series information returns using a new free online portal called the Information Returns Intake System.
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January 19, 2023
The IRS recently released Rev. Proc. 2023-14, issuing sharply higher new depreciation limitations for passenger automobiles for the second consecutive year.
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January 15, 2023
This article summarizes the Current Trends in Estate/Gift Tax Valuations presentation given at the Forensic and Valuation Services Conference sponsored by TSCPA on Tuesday, Oct. 25, 2022. Following a summary of recent developments, this article provides in-depth analysis of the recent Michael Jackson case from the Tax Court.
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January 15, 2023
TSCPA’s Federal Tax Committee met virtually with representatives from the IRS at the Tennessee Practitioner Liaison meeting on Dec. 13, 2022. Speakers from IRS divisions presented updates on issues affecting the tax practitioner community and engaged in discussions with the committee’s members and guests.
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January 15, 2023
TSCPA’s State Tax Committee met with representatives from the Tennessee Department of Revenue at the State Tax Liaison meeting on Dec. 8. The State Tax Committee meets semi-annually with state tax officials to stay up to date on tax trends and changes, as well as discuss issues of importance to Tennessee CPAs.
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January 12, 2023
The IRS recently announced that it will begin accepting and processing 2022 tax year returns on Monday, Jan. 23, 2023.
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