IRS Revises 2021 Child Tax Credit and Advance Child Tax Credit FAQs
The IRS recently issued a revised set of frequently asked questions for the 2021 Child Tax Credit and Advance Child Tax Credit.
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IRS Extends Time for Certain Estates To Request Late Portability Election Relief
The IRS recently issued Revenue Procedure 2022-32, allowing certain estates to elect the portability of a deceased spousal unused exclusion amount as much as five years after the decedent's date of death.
View MoreTennessee Department of Revenue Publishes 2022 Legislative Summaries
The Tennessee Department of Revenue has posted 2022 legislative summaries to its website.
View MoreThree Sales Tax Holidays in Tennessee This Year
The Tennessee Department of Revenue is reminding taxpayers that the General Assembly approved two additional one-time sales tax holidays this year, in addition to the traditional sales tax holiday that takes place each year at the end of July.
View MoreIRS To Require Fingerprinting for Electronic Filing
As part of efforts to improve its authentication procedures, the IRS recently announced it will be mandating a new electronic fingerprinting process for e-file applications for tax practitioners starting Sept. 25.
View MoreIRS Issues Superfund Chemical Excise Tax Rates and FAQs
The IRS recently announced it has prescribed tax rates for taxable substances that are subject to the Superfund chemical excise tax.
View MoreIRS and Treasury Issue Proposed Regulations on Present Value of Estate Deductions
The IRS and the U.S. Department of the Treasury recently issued proposed regulations REG-130975-08, providing guidance on the use of present-value principles in determining the amount deductible by an estate of certain expenses and claims against the estate under Sec. 2053 of the Internal Revenue Code.
View MoreIRS Offers More Options To Amend Returns Electronically
The IRS recently announced that more forms can now be amended electronically.
View MoreIRS To Complete Original Tax Returns Filed in 2021
The IRS recently announced that processing of originally filed Form 1040 individual tax returns without errors received during 2021 will be completed by the end of this week, and business paper returns filed in 2021 will follow shortly after.
View MoreIRS Expands Voice Bot Options
The IRS recently announced expanded voice bot options as part of its efforts to improve the taxpayer experience.
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