The IRS has offered a checklist of reminders for taxpayers as they prepare to file their 2024 tax returns. Following are some steps that will make tax preparation smoother for taxpayers in 2025:Create...
The IRS implemented measure to avoid refund delays and enhanced taxpayer protection by accepting e-filed tax returns with dependents already claimed on another return, provided an Identity Protection ...
The IRS Advisory Council (IRSAC) released its 2024 annual report, offering recommendations on emerging and ongoing tax administration issues. As a federal advisory committee to the IRS commissioner, ...
The IRS announced details for the second remedial amendment cycle (Cycle 2) for Code Sec. 403(b) pre-approved plans. The IRS also addressed a procedural rule that applies to all pre-approved plans a...
The IRS has published its latest Financial Report, providing insights into the Service's current financial status and addressing key financial matters. The report emphasizes the IRS's programs, achiev...
The IRS has published the amounts of unused housing credit carryovers allocated to qualified states under Code Sec. 42(h)(3)(D) for calendar year 2024. The IRS allocates the national pool of unused ...
Effective December 1, 2024, the Alabama Department of Revenue begins administering and collecting the town of St. Florian’s local sales and use taxes. The first Town of St. Florian local tax return ...
Alaska has enacted legislation creating new energy incentives by extending tax-exempt statutes to independent power producers. An electricity generation facility or electricity storage facility that i...
The Arizona Department of Revenue has announced local transaction privilege tax (TPT) rate changes.GilbertEffective January 1, 2025, Gilbert will:increase the general transaction privilege tax rate to...
The Barling, Arkansas, 2% local sales tax rate is rescinded effective January 1, 2025: Local Sales & Use Tax Rate Changes, Arkansas Department of Finance and Administration, October 9, 2024...
Employers in Ventura County who are directly affected by the Mountain Fire may request up to a two-month extension to file their state payroll reports and/or deposit payroll taxes without penalty or i...
Colorado voters at the November 5, 2024 general election approved a constitutional amendment to expand eligibility for the property tax exemption for veterans with a disability to include veterans who...
Effective January 1, 2025, payers of nonpayroll amounts are no longer required to withhold Connecticut personal income tax from certain retirement income distributions. Payers of nonpayroll amounts ar...
Delaware enacted legislation that imposes:a $25 license fee; anda 4.5% lodging tax on businesses or individuals who facilitate or arrange short-term rentals through a website or other method.The tax...
The District of Columbia has exempted landscape architecture services performed by a licensed landscape architect in the District, or by a professional design firm employing a landscape architect, fro...
Amendment 5 was approved by Florida voters in the November 5, 2024, general election for property tax purposes.This amendment:changes section 6 of Article VII, and creates a new section in Article XII...
A Georgia county has a sales and use tax rate change for first quarter. Clay County's sales tax rate will be 8% effective January 1, 2025. Important Bulletins - County Tax Rate Changes, Georgia Depar...
The Hawaii Tax Appeal Court acted outside its jurisdiction increasing taxpayers' income tax liability to more than the amount in the Department of Taxation's notice of final assessment. The taxpayers ...
The Idaho State Tax Commission has issued a release announcing that veterans with disabilities are eligible to have their property tax bill reduced by as much as $1,500 on their Idaho residence and up...
Illinois issued guidance discussing the cap on the retailers' discount for motor vehicle dealers who file sales and use tax returns and pay tax liability on or before the due date. A $1,000 monthly ca...
Updated guidance is issued on the S corporation, trust, and partnership mandate to file a composite return on behalf of nonresident shareholders and partners for Indiana corporate income tax purposes....
The Iowa Department of Revenue announced the 2025 tax year individual income tax rate. Since the enactment of Iowa S.F. 2442 in May, 2024, Iowa law provides for a flat tax rate of 3.8 percent for all ...
Kansas posted local sales and use rate updates for:the cities of Altoona, Derby, and Strong City;Kearny, Logan, and Rawlins counties; andthe new community improvement districts of Andover Red Bud Trai...
Kentucky announced interest rate changes for the underpayment and overpayment of corporate income tax, personal income tax, sales and use tax, and all other taxes, effective January 1, 2025. The inter...
The Louisiana Department of Revenue has released information on Governor Jeff Landry's comprehensive tax reform proposals to be addressed in the upcoming special session of the legislature.The special...
Maine Revenue Services reminders taxpayer that starting in 2025, the following services are exempt from service provider tax:private nonmedical institution services;community support services for pers...
Despite confusion as to whether Maryland taxpayers may claim the Foreign Earned Income Exclusion on personal income tax returns, the Maryland Tax Court could not decide the issue in this case because ...
Massachusetts issued guidance explaining tax changes contained in the 2024 supplemental budget legislation including:clarification on the noncustodial parent's ability to claim the child and family ta...
For tax years beginning after January 1, 2025, Michigan has authorized a one-time personal income tax credit for unreimbursed live organ donation expenses incurred during the tax year or $10,000, whic...
For Minnesota personal income tax purposes, the taxpayer’s failure to timely file a notice of appeal deprived the tax court of subject matter jurisdiction. The taxpayer sought to appeal four Commiss...
Massachusetts updated guidance that explains tax relief resulting from a federal disaster declaration for areas in the state, including automatic return filing and payment extensions for:personal inco...
The Court of Appeals reversed the decision of the circuit court because only one local government entity can impose marijuana sales taxes on dispensaries under Missouri’s constitution. In this case,...
Montana Gov. Greg Gianforte announced his budget plan for the next biennium. The governor’s budget proposal includes:an income tax cut, reducing the income tax rate most Montanans pay from 5.9% to 4...
The Nebraska Department of Revenue updated guidance on personal income tax withholding from wages, pensions and annuities, and gambling winnings. Specifically, the guidance explains the responsibiliti...
Nevada voters have approved Ballot Question 5, a sales and use tax exemption for child and adult diapers. The exemption is set to take effect January 1, 2025. State Ballot Question No. 5, Nevada Secr...
The New Hampshire Department of Revenue Administration has amended, renumbered, and readopted regulations concering meals, catering, and food products: hotels and accomodations; services; and procedur...
New Jersey has revised a technical bulletin discussing the sales and use tax treatment of recreational cannabis and licensed cannabis establishments. The bulletin was updated to add:a definition of "...
New Mexico's Taxation and Revenue Department has announced that it will grant filing extensions to taxpayers in Chaves County who have been affected by recent flooding. Taxpayers who live in or own bu...
A severance payment paid to a nonresident individual (taxpayer) employed by a New York corporation, in connection with the termination of her employment was New York source income subject to personal ...
A taxpayer’s petition challenging a North Carolina sales and use tax assessment was barred by the doctrine of sovereign immunity because the petition was untimely filed. In this matter, the taxpayer...
North Dakota local tax changes effective from January 1, 2025, have been announced for several cities. The City of Ashley will increase its sales, use, and gross receipts tax to 2%, while Mandan's tax...
Ohio has released the petroleum activity tax (PAT) statewide average wholesale prices for the fourth quarter of 2024.The average prices per gallon for the third quarter are:$2.365 for unleaded regular...
Oklahoma local sales and use tax rate changes have been announced effective January 1, 2025.Alva increases its lodging rate from 5% to 8%.Coyle imposes a new use tax at a rate of 3%.Pond Creek decreas...
The Oregon tax court has concluded that deemed dividends arising under Subpart F of IRC Sec. 951 through IRC Sec. 965 must be reincluded in the sales factor for a corporation excise (corporate) taxpay...
Pennsylvania has clarified the corporate income tax deduction for ordinary and necessary business expenses allowed to medical cannabis businesses. The deduction now specifically includes an entity tha...
For calendar year 2025, the interest rate on delinquent Rhode Island trust fund tax payments remains at 18%, the rate on other types of delinquent tax payments remains at 12%, and the rate on overpaym...
South Carolina has published its annual update of the state's withholding tax tables and withholding tax formula for 2025. Employers and payroll providers should begin using the new tables on Janu...
The South Dakota Department of Revenue has updated a tax facts sheet discussing the applicability of state and local sales and use tax to motor vehicle leases and rentals. The facts sheet discusses, a...
A taxpayer’s purchase and installation of streetlights, photocells, smart nodes, and poles on behalf of public power authorities was not subject to Tennessee sales and use tax.Component Part of Elec...
The Texas Comptroller issued a private letter ruling in which it held that dealers who sold certain extended warranties/service polices on behalf of a particular equipment manufacturer were "marketpla...
Utah has issued a publication that provides information on cannabinoid product tax. The publication discusses the definition of cannabinoid product; what cannabinoid products are legal to sell; licens...
Vermont announced that the municipality of Berlin will have a 1% local option sales tax, as well as a 1% local option meals and rooms tax and alcoholic beverage tax, effective beginning January 1, 202...
For Virginia property tax purposes, the dismissal of the taxpayer’s challenge to the county’s assessments for 2018-2020 because the taxpayer failed to rebut the assessments’ presumptive correctn...
Beginning January 1, 2025, the following Washington cities have imposed annexations that may impact businesses’ sales and use tax rates: Ellensburg, Kennewick (three annexations), Lacey, Mountlake T...
West Virginia enacted special session legislation that creates a nonrefundable child and dependent care credit. The state credit is equal to 50% of the federal credit allowed under IRC Sec. 21. Taxpay...
The Wisconsin Tax Appeals Commission held that when an appeal is untimely, the Commission lacks subject matter jurisdiction and is unable to consider the merits of the appeal. Petitioners have to file...
Wyoming updated its Streamlined Sales and Use Tax (SST) Agreement taxability matrix and certificate of compliance. The changes are effective August 1, 2024. Taxability Matrix: Tax Administration Pract...
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