Given the extended time it has taken the USPS to deliver mail over the past few months, there has been a recent trend of taxpayers who have timely mailed their tax payments but received late payment penalty notices. Learn how to avoid these types of notices by paying your tax payments online using IRS Direct Pay. Read More
Beginning in 2025, critical infrastructure entities will be required to report cybersecurity incidents and ransomware payments to America's cyber defense agency, CISA. The goal? To enable the security community to stay informed and ahead of evolving threats and empower the CISA to quickly deliver support to cyber-attack victims. Read More
Two House committees took up the issue of extending the 2017 TCJA tax cuts, with debates highlighting the benefits for small businesses, workers and the economy. As Congress considers H.R. 7024, the discussion continues on the best path forward for American taxpayers and the economy. Read More
On May 10, 2024, Tennessee Gov. Bill Lee signed SB 2103 into law, making substantial changes to the state’s franchise tax regime and creating refund opportunities for certain taxpayers. Read More
The 2023-2024 Georgia legislative session ended with notable bills that included tax rate changes, state credit program modifications and the potential for a new Georgia Tax Court that has been signed by the Governor. Read More
Georgia Governor Brian Kemp recently signed several new bills that accelerate the reduction enacted by HB 1437, a change estimated to save taxpayers $1.1 billion in 2024 and $3 billion over the next decade. Read More
Biden’s plan would extend the individual tax cuts and the increased child tax credit by increasing the individual tax rate and setting a 25% minimum tax on high-income taxpayers. The corporate rate also would increase to 28% beginning in 2024 under his proposal. Read More
The Tennessee Department of Revenue has released Notice #24-05 discussing the franchise tax property measure repeal. Read More
The Department of Treasury and IRS are releasing Notice 2024-08926 in the Federal Register. Much of this guidance clarifies the previously proposed rules regarding the transfer of clean energy credits. Read More
An Alabama federal court recently ruled that the Corporate Transparency Act violates the Constitution’s Commerce clause by requiring nearly all U.S. small businesses to report information about their beneficial owners to FinCEN. Read More
