February 23, 2024
The IRS recently announced nearly 250 IRS Taxpayer Assistance Centers around the country will extend their weekly office hours to give taxpayers additional time to get the help they need during the filing season.
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February 9, 2024
The Internal Revenue Service today updated its frequently asked questions (FAQs) for the Premium Tax Credit.
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February 7, 2024
This revenue procedure provides: (1) two tables of limitations on depreciation deductions for owners of passenger automobiles placed in service by the taxpayer during calendar year 2024; and (2) a table of dollar amounts that must be used to determine income inclusions by lessees of passenger automobiles with a lease term beginning in calendar year 2024.
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February 7, 2024
The Internal Revenue Service announced the launch of a new page on IRS.gov explaining the Employer-Provided Childcare Tax Credit, an incentive for businesses to provide child care services to their employees.
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February 6, 2024
In an effort to provide more resources for taxpayers during this filing season, the IRS recently revised frequently asked questions for Form 1099-K, Payment Card and Third Party Network Transactions, in Fact Sheet 2024-03.
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January 29, 2024
The Tennessee Department of Revenue has recently issued Important Notice #24-01 regarding tax filing extensions for those affected by the Dec. 9, 2023, tornadoes and storms in parts of Tennessee.
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January 25, 2024
The Financial Crimes Enforcement Network has announced that inflation adjustments have significantly increased civil monetary penalties for violating the beneficial ownership information reporting rules and for the unauthorized disclosure or use of BOI.
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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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