Tax Resources

About 1 ½ years ago, I wrote an article about the “10 Biggest Myths (Missed Opportunities) of the Employee Retention Credit (ERC).”

There are many considerations for tax professionals this year with IRS 5293 compliance, the tax implications of the Inflation Reduction Act, improvements in tax document automation Prepared by Client (PBC) tools and portals.

TSCPA’s State Tax Committee met with representatives from the Tennessee Department of Revenue at the State Tax Liaison meeting on Dec. 8. The State Tax Committee meets semi-annually with state tax officials to stay up to date on tax trends and changes, as well as discuss issues of importance to Tennessee CPAs.

TSCPA’s Federal Tax Committee met virtually with representatives from the IRS at the Tennessee Practitioner Liaison meeting on Dec. 13, 2022. Speakers from IRS divisions presented updates on issues affecting the tax practitioner community and engaged in discussions with the committee’s members and guests.

This article summarizes the Current Trends in Estate/Gift Tax Valuations presentation given at the Forensic and Valuation Services Conference sponsored by TSCPA on Tuesday, Oct. 25, 2022. Following a summary of recent developments, this article provides in-depth analysis of the recent Michael Jackson case from the Tax Court.