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2024 Year-End Tax Planning2024 Post-Election Tax Policy Update2024 Post-Filing Season UpdateInflation Reduction Act of 2022
IRS Urges Taxpayers to Enroll for IP PIN Ahead of 2025 Filing Season, IR-2024-278
The IRS has encouraged taxpayers to register for an Identity Protection Personal Identification Number (IP PIN) to strengthen their defenses against tax-related identity theft. With the 2025 tax sea...
The IRS has encouraged taxpayers to register for an Identity Protection Personal Identification Number (IP PIN) to strengthen their defenses against tax-related identity theft. With the 2025 tax sea...
IRS Accelerates Work on Employee Retention Credit Claims, IR-2024-263
The IRS has made significant progress on Employee Retention Credit (ERC) claims, with processing underway on about 400,000 claims, worth approximately $10 billion. The IRS is separating eligible claim...
The IRS has made significant progress on Employee Retention Credit (ERC) claims, with processing underway on about 400,000 claims, worth approximately $10 billion. The IRS is separating eligible claim...
IRS Warns Taxpayers About Scams by Offer in Compromise Mills, IR-2024-243
The IRS has issued a warning to taxpayers to be cautious of unscrupulous promoters claiming to offer help in resolving unpaid taxes through the IRS Offer in Compromise (OIC) program. These fraudulent ...
The IRS has issued a warning to taxpayers to be cautious of unscrupulous promoters claiming to offer help in resolving unpaid taxes through the IRS Offer in Compromise (OIC) program. These fraudulent ...
IRS Appeals Secure Messaging Program Office Launches Corporate Group Mailbox Pilot, IR-2024-247
The IRS Independent Office of Appeals (Appeals) today launched a pilot program as part of the IRS’ ongoing transformation efforts to expand online tools and improve user experiences. From September ...
The IRS Independent Office of Appeals (Appeals) today launched a pilot program as part of the IRS’ ongoing transformation efforts to expand online tools and improve user experiences. From September ...
IRS Warns of Charity Scams Following Hurricanes Milton and Helene, IR-2024-269
The IRS has offered some tips to taxpayers about scammers using fake charities to exploit unsuspecting donors in the aftermath of Hurricanes Milton and Helene. Donors can use the Tax-Exempt Organizat...
The IRS has offered some tips to taxpayers about scammers using fake charities to exploit unsuspecting donors in the aftermath of Hurricanes Milton and Helene. Donors can use the Tax-Exempt Organizat...
IRS Provides Safe Harbor for Amounts Paid for Condoms, Notice 2024-71
The IRS has provided a safe harbor under Code Sec. 213(d) for amounts paid for condoms. Because amounts paid for condoms are treated as expenses for medical care, these amounts are deductible if the...
The IRS has provided a safe harbor under Code Sec. 213(d) for amounts paid for condoms. Because amounts paid for condoms are treated as expenses for medical care, these amounts are deductible if the...
AL - Updated chart shows local participation in 2025 severe weather preparedness tax holiday
The chart listing the counties and municipalities that will participate in Alabama’s 2025 severe weather preparedness sales tax holiday has been updated. The 2025 holiday is being held from February...
The chart listing the counties and municipalities that will participate in Alabama’s 2025 severe weather preparedness sales tax holiday has been updated. The 2025 holiday is being held from February...
AK - Integrated transmission systems legislation enacted
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...
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...
AZ - Property tax refund for non-enforcement of public nuisance laws measure approved by the voters
Arizona voters approved Proposition 312, which allows property owners to apply for a property tax refund when a city or locality fails to enforce public safety regulations. The property owner must sub...
Arizona voters approved Proposition 312, which allows property owners to apply for a property tax refund when a city or locality fails to enforce public safety regulations. The property owner must sub...
AR - Local tax rate change announced
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...
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...
CA - FTB not prohibited from collecting tax without notice of proposed assessment
The California Franchise Tax Board (FTB) was not prohibited from collecting additional personal income tax based on the taxpayers' amended returns without issuing a notice of proposed assessment (NPA)...
The California Franchise Tax Board (FTB) was not prohibited from collecting additional personal income tax based on the taxpayers' amended returns without issuing a notice of proposed assessment (NPA)...
CO - Voters approve expansion of exemption for veterans with a disability
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...
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...
CT - Change in withholding requirements for nonpayroll amounts
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...
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...
DE - Short-term rental tax and license fee enacted
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...
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...
DC - Landscape architect services exempted from sales 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...
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...
FL - Interest rates for first half of 2025 announced
The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments for January 1, 2025, through June 30, 2025, is 12%. I...
The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments for January 1, 2025, through June 30, 2025, is 12%. I...
GA - Voters approve local option homestead property tax exemption amendment
Georgia voters approved Amendment 1, a Constitutional Amendment that allows a statewide local option homestead exemption from property taxes, while allowing localities to opt out of the exemption. Pr...
Georgia voters approved Amendment 1, a Constitutional Amendment that allows a statewide local option homestead exemption from property taxes, while allowing localities to opt out of the exemption. Pr...
HI - Tax appeal court acted outside its jurisdiction increasing taxpayers' tax liability
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 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 ...
ID - Disabled veterans are eligible to apply for property tax benefit; deadline is April 15
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...
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...
IL - Destination of sales to third party distributors was determinative
The destination of products sold by subsidiaries of a combined reporting group to third-distributors was determinative of whether the group's Illinois sales factor had to include those sales. The subs...
The destination of products sold by subsidiaries of a combined reporting group to third-distributors was determinative of whether the group's Illinois sales factor had to include those sales. The subs...
IN - Updated guidance issued on mandate to file a composite return
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....
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....
IA - 2025 individual income tax rate announced
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 ...
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 ...
KS - Local rate information updated
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...
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...
KY - 2025 interest rates announced
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...
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...
LA - Details of proposed tax reform package released
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...
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...
ME - Certain services exempt from provider tax in 2025
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...
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...
MD - Tax court could not decide foreign income exclusion since refund had been made
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 ...
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 ...
MA - Guidance updated to explain how to submit an amnesty request
Massachusetts has updated previously issued guidance on the state's tax amnesty program to explain how to submit an application for amnesty. The amnesty period began on November 1, 2024, and will end ...
Massachusetts has updated previously issued guidance on the state's tax amnesty program to explain how to submit an application for amnesty. The amnesty period began on November 1, 2024, and will end ...
MI - Interest rate on overpayment and underpayment of taxes announced
The Michigan Department of Treasury has announced that the interest rate for underpayment and overpayment of taxes decreases to 9.47% for the period January 1, 2025 through June 30, 2025. Revenue Adm...
The Michigan Department of Treasury has announced that the interest rate for underpayment and overpayment of taxes decreases to 9.47% for the period January 1, 2025 through June 30, 2025. Revenue Adm...
MN - Assessed value reduced as cabin property was overvalued
For Minnesota property tax purposes, the assessed value of the taxpayer’s cabin property was decreased because the county assessor had overstated the property’s market value. In this matter, the c...
For Minnesota property tax purposes, the assessed value of the taxpayer’s cabin property was decreased because the county assessor had overstated the property’s market value. In this matter, the c...
MS - Disaster relief for taxpayers explained
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...
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...
MO - Voters approve constitutional amendment to legalize, regulate, and tax sports wagering
According to unofficial election results, Missouri voters approved a constitutional amendment that does the following:allows the Missouri Gaming Commission to regulate licensed sports wagering includi...
According to unofficial election results, Missouri voters approved a constitutional amendment that does the following:allows the Missouri Gaming Commission to regulate licensed sports wagering includi...
MT - Governor encourages property tax rebate applications
Montana Gov. Greg Gianforte encourages Montana homeowners to apply for their property tax rebate. Between August 15 and October 1, 2024, eligible Montana homeowners may claim their property tax rebate...
Montana Gov. Greg Gianforte encourages Montana homeowners to apply for their property tax rebate. Between August 15 and October 1, 2024, eligible Montana homeowners may claim their property tax rebate...
NE - Microenterprise tax credit guide, application, updated
For personal income tax purposes, the Nebraska Department of Revenue has updated its Microenterprise Tax Credit Guide, Application, and Form 3800N (Worksheet M). The updated documents can be viewed on...
For personal income tax purposes, the Nebraska Department of Revenue has updated its Microenterprise Tax Credit Guide, Application, and Form 3800N (Worksheet M). The updated documents can be viewed on...
NV - Exemption for diapers approved by voters
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...
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...
NH - Meals and rentals tax regulations amended, renumbered
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...
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...
NJ - Deadline to apply for anchor property tax relief program extended
New Jersey has announced the extension of the application deadline for eligible homeowners and renters to apply for the Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) property t...
New Jersey has announced the extension of the application deadline for eligible homeowners and renters to apply for the Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) property t...
NM - Extensions available for flood-affected taxpayers
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...
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...
NY - Issuance of notice and demand was improper
In a New York case involving a petitioner whose husband pleaded guilty following a criminal tax indictment, it was improper for the Department of Taxation and Finance to issue a notice and demand to t...
In a New York case involving a petitioner whose husband pleaded guilty following a criminal tax indictment, it was improper for the Department of Taxation and Finance to issue a notice and demand to t...
NC - Taxpayer’s petition barred by state’s sovereign immunity
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...
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...
ND - Local tax changes announced for upcoming year
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...
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...
OH - 2024 fourth quarter PAT average wholesale prices released
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...
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...
OK - Local tax rate changes announced
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...
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...
OR - Repatriation amount included in sales factor
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...
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...
PA - Medical cannabis business deduction clarified
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...
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...
RI - Inflation-adjusted amounts set for tax year 2025
Rhode Island has released the personal income tax rate schedules, the tax rate schedules for trusts and estates, standard deduction amounts, and personal exemption amounts for the 2025 tax year. Addit...
Rhode Island has released the personal income tax rate schedules, the tax rate schedules for trusts and estates, standard deduction amounts, and personal exemption amounts for the 2025 tax year. Addit...
SC - Relief announced for taxpayers affected by hurricane Helene
In conjunction with the federal tax relief announced by the IRS for taxpayers affected by Hurricane Helene throughout the state, South Carolina is postponing until May 1, 2025, certain filing and paym...
In conjunction with the federal tax relief announced by the IRS for taxpayers affected by Hurricane Helene throughout the state, South Carolina is postponing until May 1, 2025, certain filing and paym...
SD - Guidance on taxability of motor vehicle leases and rentals updated
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...
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...
TN - Taxpayer's purchase of streetlights and related equipment on behalf of public utility was exempt
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...
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...
TX - September 2024 certification of the average closing price of gas and oil released
The Texas Comptroller of Public Accounts has determined the average taxable price of crude oil for the reporting period September 2024 is $48.45 per barrel for the three-month period beginning on June...
The Texas Comptroller of Public Accounts has determined the average taxable price of crude oil for the reporting period September 2024 is $48.45 per barrel for the three-month period beginning on June...
UT - Local tax rate changes announced
Utah announced the following local sales and use tax rate changes, effective January 1, 2025.County Option TaxThe following counties impose a county option sales and use tax at the rate of 0.3%:Box El...
Utah announced the following local sales and use tax rate changes, effective January 1, 2025.County Option TaxThe following counties impose a county option sales and use tax at the rate of 0.3%:Box El...
VT - Local option rates announced for berlin
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...
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...
VA - Hotel property assessments upheld for failure to overcome presumption of correctness
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...
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...
WA - International investment management preferential rate explained
International investment management services may qualify for a 0.275% Washington business and occupation (B&O) tax rate."International management services" includes investment research, investmen...
International investment management services may qualify for a 0.275% Washington business and occupation (B&O) tax rate."International management services" includes investment research, investmen...
WV - Child and dependent care credit created
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...
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...
WI - No subject matter jurisdiction over untimely appeal
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...
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...
WY - SST taxability matrix and certificate of compliance updated
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...
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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