Important Notice #25-08: Bail Bondsmen/Court Clerk Quarterly Reports
https://www.tn.gov/content/dam/tn/revenue/documents/notices/bailbond/bailbondsmen2025.pdf
Important Notice #25-07: Short-Term Rental Unit – 30 Day Occupancy
https://www.tn.gov/content/dam/tn/revenue/documents/notices/local_occupancy/occupancy25-07.pdf
Important Notice #25-06: Vapor Products
https://www.tn.gov/content/dam/tn/revenue/documents/notices/tobacco/25-06tob.pdf
IRS Announces HSA Inflation-Adjusted Maximum Contribution Amounts for 2026
The IRS recently announced that the maximum contribution amounts for health savings accounts (HSAs) and certain related benchmarks will be slightly higher in 2026. The IRS stated the updated amounts in Rev. Proc. 2025-19, issued pursuant to Sec. 223(g). The revenue procedure also includes the revised maximum amount that may be made newly available for excepted-benefit […]
Basis-Shifting Transaction-of-Interest Regulations To Be Removed
The U.S. Department of the Treasury and the IRS recently announced the intent to remove basis-shifting transaction-of-interest (TOI) regulations. Published in Notice 2025-23, the announcement states that the Treasury and the IRS intend to publish a notice of proposed rulemaking to remove Regs. Sec. 1.6011-18 from the income tax regulations. Regs. Sec. 1.6011-18 were issued in […]
Tennessee Department of Revenue: Extensions for April Storms To Be Issued on a Case-by-Case Basis
As a result of the severe storms, straight-line winds, tornadoes and flooding that began on April 2, 2025, the Federal Emergency Management Agency (FEMA) issued a disaster declaration for the entire state of Tennessee. The IRS extended various federal due dates to Nov. 3, 2025, for taxpayers located in the disaster area. Consistent with the […]
IRS: All of Tennessee qualifies for disaster tax relief; various deadlines postponed to Nov. 3
https://www.irs.gov/newsroom/irs-all-of-tennessee-qualifies-for-disaster-tax-relief-various-deadlines-postponed-to-nov-3
Important Notice #25-04: Natural Disaster Relief Refund
https://www.tn.gov/content/dam/tn/revenue/documents/notices/sales/sales25-04.pdf
IRS reminder: Disaster victims in twelve states have automatic extensions to file and pay their 2024 taxes
https://www.irs.gov/newsroom/irs-reminder-disaster-victims-in-twelve-states-have-automatic-extensions-to-file-and-pay-their-2024-taxes
An Update on the Federal Disaster Relief Act and Qualified Disaster Losses
By: Emily Cokeley, Ph.D., CPA, and Lingting Jiang, Ph.D., CPA In recent years, there have been numerous natural disasters in Tennessee and neighboring states, leading to substantial economic losses. Disaster losses impose significant financial burdens on individuals and businesses. The U.S. tax code provides relief through casualty loss deductions, special tax provisions and legislative acts […]