The U.S. Postal Service (USPS) recently adopted final regulations affecting the postmark date of mailed items. Effective Dec. 24, 2025, the regulations clarify that a machine-applied postmark indicates the date of the “first automated processing operation” at a processing facility. Due to the new regulations, a mailed item’s postmark may be several days later than […]
USPS Adopts Regulations Updating Postmark Dates Read More »
https://www.tn.gov/content/dam/tn/revenue/documents/tax_manuals/december-2025/Tax-Manual-Updates.pdf
Tennessee Department of Revenue Updates Tax Manuals Read More »
The IRS recently updated frequently asked questions (FAQs) regarding changes to the limitation on the deduction for business interest expense (Fact Sheet 2025-09) and the Premium Tax Credit (Fact Sheet 2025-10) under the One Big Beautiful Bill (OBBB). For tax years beginning after Dec. 31, 2024, the OBBB amended Section 163(j) by: Allowing taxpayers to
https://www.irs.gov/newsroom/treasury-irs-provide-safe-harbor-for-taxpayers-claiming-the-carbon-capture-credit
Treasury, IRS provide safe harbor for taxpayers claiming the carbon capture credit Read More »
The U.S. Court of Appeals for the 11th Circuit recently upheld in National Small Business United, et al. v. U.S. Department of the Treasury, et al. that the Corporate Transparency Act (CTA) is a constitutional exercise of Congress’ power under the Commerce Clause of the U.S. Constitution. The court also ruled that the CTA does
Court Upholds Constitutionality of Corporate Transparency Act Read More »
The U.S. Senate recently passed H.R. 1491, the Disaster Related Extension of Deadlines Act, which requires the IRS to treat the postponement of the federal tax return deadline due to a federally declared disaster or certain other events as an extension for purposes of calculating the limit on a tax refund. The legislation now goes to
Senate Passes Disaster Related Extension of Deadlines Act Read More »
https://www.fasb.org/news-and-meetings/in-the-news/2026-fasb-taxonomies-now-available-22-423441
2026 FASB Taxonomies Now Available Read More »
https://www.irs.gov/newsroom/treasury-irs-allow-states-to-make-an-advance-election-to-participate-in-the-new-federal-tax-credit-for-individual-contributions-to-scholarship-granting-organizations-under-the-one-big-beautiful-bill
The Federal Reserve recently reduced the benchmark interest rate by a quarter point in its third cut of 2025. The reduction takes the federal funds rate, the interest rate banks charge each other for short-term loans, to a target range of 3.5%-3.75%. Three members of the rate-setting Federal Open Market Committee (FOMC) cast dissenting votes.
Federal Reserve Cuts Rates by a Quarter Point Read More »
https://www.irs.gov/newsroom/treasury-irs-provide-guidance-on-new-tax-benefits-for-health-savings-account-participants-under-the-one-big-beautiful-bill