July 28, 2022
The Treasury Inspector General for Tax Administration released a new report assessing the capabilities of the IRS Child Tax Credit online portal that was launched for the expanded CTC implemented by the American Rescue Plan Act of 2021.
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July 27, 2022
The IRS recently released a statement acknowledging some payments made for 2021 tax returns have not been correctly applied to joint taxpayer accounts, and these taxpayers are receiving erroneous balance due notices (CP-14 notices) or notices showing the incorrect amount.
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July 20, 2022
The IRS recently released a new five-year Strategic Plan that outlines its goals to improve taxpayer service and tax administration.
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July 15, 2022
Traditionally, the classification of a worker as an employee versus an independent contractor has not been the focus of business management.
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July 14, 2022
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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July 8, 2022
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.
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July 7, 2022
The Tennessee Department of Revenue has posted 2022 legislative summaries to its website.
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July 6, 2022
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.
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June 29, 2022
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.
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June 28, 2022
The IRS recently announced it has prescribed tax rates for taxable substances that are subject to the Superfund chemical excise tax.
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