Important Notice #26-01: End of Penny Production
https://www.tn.gov/content/dam/tn/revenue/documents/notices/sales/sales26-01.pdf
Treasury, IRS issue guidance on the additional first year depreciation deduction amended as part of the One, Big, Beautiful Bill
https://www.irs.gov/newsroom/treasury-irs-issue-guidance-on-the-additional-first-year-depreciation-deduction-amended-as-part-of-the-one-big-beautiful-bill
Treasury, IRS issue proposed regulations reflecting changes from the One, Big, Beautiful Bill to the threshold for backup withholding on certain payments made through third parties
https://www.irs.gov/newsroom/treasury-irs-issue-proposed-regulations-reflecting-changes-from-the-one-big-beautiful-bill-to-the-threshold-for-backup-withholding-on-certain-payments-made-through-third-parties
IRS announces first day of 2026 filing season; online tools and resources help with tax filing
https://www.irs.gov/newsroom/irs-announces-first-day-of-2026-filing-season-online-tools-and-resources-help-with-tax-filing
Treasury, IRS provide guidance on the new deduction for car loan interest under the One, Big, Beautiful Bill
https://www.irs.gov/newsroom/treasury-irs-provide-guidance-on-the-new-deduction-for-car-loan-interest-under-the-one-big-beautiful-bill
IRS sets 2026 business standard mileage rate at 72.5 cents per mile, up 2.5 cents
https://www.irs.gov/newsroom/irs-sets-2026-business-standard-mileage-rate-at-725-cents-per-mile-up-25-cents
USPS Adopts Regulations Updating Postmark Dates
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 […]
Tennessee Department of Revenue Updates Tax Manuals
https://www.tn.gov/content/dam/tn/revenue/documents/tax_manuals/december-2025/Tax-Manual-Updates.pdf
IRS Updates FAQs on the Limitation on the Deduction for Business Interest Expense and Premium Tax Credit
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 […]
Treasury, IRS provide safe harbor for taxpayers claiming the carbon capture credit
https://www.irs.gov/newsroom/treasury-irs-provide-safe-harbor-for-taxpayers-claiming-the-carbon-capture-credit