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IRS Waives 2018 Tax Penalty for Many Taxpayers

January 16, 2019 The IRS announced recently that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.

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IRS Issues Standard Mileage Rates for 2019

December 14, 2018 The Internal Revenue Service recently issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

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TNTAP Business and F&E Updates

December 11, 2018 The Department of Revenue has important updates about business tax and franchise and excise tax. This includes information about new account numbers, consolidation and other filing tips.

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IRS Provides Guidance on Parking Fringe Expenses and Unrelated Business Taxable Income, Penalty Relief to Tax-Exempt Organizations

December 10, 2018 The Internal Revenue Service recently issued interim guidance regarding the treatment of qualified transportation fringe benefit expenses paid or incurred after Dec. 31, 2017. The new rules assist taxpayers in determining the amount of parking expenses that are no longer tax deductible. They also help tax-exempt organizations determine how these nondeductible parking expenses create or increase unrelated business taxable income.

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