January 16, 2024
The U.S. Treasury Department and the IRS recently issued Announcement 2024-4 informing businesses they do not have to report the receipt of digital assets the same way they must report the receipt of cash until the Treasury and IRS issue regulations.
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January 15, 2024
The IRS announced that tax relief has been provided for individuals and businesses in parts of Tennessee affected by severe storms and tornadoes that hit parts of Tennessee in early December 2023.
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January 15, 2024
TSCPA’s State Tax Committee met with representatives from the Tennessee Department of Revenue (TDOR) and the Secretary of State’s office and received a legislative update from Senator Kerry Roberts. The committee meets semi-annually with various state departments to discuss state tax issues and other topics of importance to Tennessee CPAs.
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January 15, 2024
Although there have not been many tax law changes this year, one tax policy change being implemented this year is sure to cause confusion for a plethora of our clients. That change is the new reporting requirements for the 1099-K.
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January 9, 2024
The U.S. Department of Labor recently announced a final rule intended to help employers and workers better understand when a worker qualifies as an employee and when they may be considered an independent contractor under the Fair Labor Standards Act.
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January 9, 2024
With tax season rapidly approaching, the IRS is reminding employers that Jan. 31 is the deadline for submitting wage statements and forms for independent contractors with the government.
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January 9, 2024
The IRS recently announced it is providing tax relief for individuals and businesses in parts of Tennessee affected by severe storms and tornadoes that began on Dec. 9.
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January 8, 2024
The IRS recently announced that it will begin accepting and processing 2023 tax year returns on Monday, Jan. 29, 2024.
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December 21, 2023
As part of an ongoing initiative aimed at combating dubious Employee Retention Credit claims, the IRS recently launched a new Voluntary Disclosure Program to help businesses who want to pay back the money they received after filing ERC claims in error.
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December 19, 2023
The IRS recently announced new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pandemic.
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