May 8, 2025
Effective July 1, 2025, Public Chapter 396 (2025) requires every professional bail bondsman licensed to do business in this state to file a quarterly report with the Department of Revenue (the “Department”).
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May 7, 2025
Public Chapter 364 (2025), effective July 1, 2025, subjects the first 30 days of occupancy in a short-term rental unit to the local occupancy tax, regardless of the overall length of stay.
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May 5, 2025
Effective July 1, 2025, vapor products are subject to the tobacco tax at the rate of 10% of the wholesale cost price.
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May 1, 2025
The IRS recently announced that the maximum contribution amounts for health savings accounts (HSAs) and certain related benchmarks will be slightly higher in 2026.
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April 18, 2025
The U.S. Department of the Treasury and the IRS recently announced the intent to remove basis-shifting transaction-of-interest (TOI) regulations.
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April 14, 2025
As a result of the severe storms, straight-line winds, tornadoes, and flooding that began on April 2, 2025, the Federal Emergency Management Agency issued a disaster declaration for the entire state of Tennessee.
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April 14, 2025
The Internal Revenue Service announced today tax relief for individuals and businesses in the entire state of Tennessee affected by severe storms, straight-line winds, tornadoes and flooding that began on April 2, 2025.
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April 8, 2025
Tennessee provides individuals affected by any federally declared natural disaster occurring in this state with relief in the form of a sales tax refund on sales tax paid on certain items used to restore, repair, replace, or rebuild damaged or destroyed items.
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April 4, 2025
The Internal Revenue Service today reminds individuals and businesses in areas covered by 2024 disaster declarations that their 2024 federal income tax returns and tax payments for tax year 2024 are due on Thursday, May 1, 2025.
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March 21, 2025
The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule exempting U.S. companies and persons from reporting beneficial ownership information (BOI), while requiring foreign entities registered to do business in the U.S. to report BOI under new deadlines. This rule redefines "reporting company" to include only foreign entities and exempts domestic entities from BOI reporting requirements.
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