by Jeremy Tomlinson | Jun 18, 2024 | Tax Watch
The Tax Cuts and Jobs Act (TCJA) of 2017 made sweeping changes to the Internal Revenue Code (IRC). It lowered tax rates for individuals, businesses and families. Some provisions of the statute are intended to discourage businesses from moving assets overseas. Many of...
by Joseph Nash | May 28, 2024 | Tax Watch
The TN Department of Revenue has recently issued guidance on new legislation that eliminates the property measure from the franchise tax calculation and allows the department to issue refunds to eligible taxpayers. Prior to this change, franchise tax was calculated on...
by Milton Howell, CPA | May 9, 2024 | Audit and Accounting, Business Consulting, Business Valuation, Manufacturing & Distribution, Professional Services, Real Estate & Construction, Tax Watch
Beneficial Ownership Information (“BOI”) reporting is a new federal law requirement estimated to impact more than 30 million businesses beginning January 1, 2024. In general, any entity, domestic or foreign, created by filing a document with a secretary of state (or...
by Isaac Rowles | Mar 13, 2024 | Audit and Accounting, NonProfit, Tax Watch
There is a new accounting standard effective during 2023 which will change how companies account for future losses on financial instruments. If this sounds abstract, then you are not alone. The standard was initially developed to change the way that banks account for...
by David A. Mize, CPA | Mar 4, 2024 | Tax Watch
The IRS officially began accepting returns for the 2023 tax year at the end of January 2024. This gives taxpayers several months to complete their returns or submit an extension request. Every year, the IRS makes changes to various aspects of the tax filing process,...
by Bill Jones | Feb 6, 2024 | Audit and Accounting, Manufacturing & Distribution, Tax Watch
There are new law changes by the United States Department of Labor (DOL), IRS, Pension Benefit Guaranty Corporation(PBGC) and Secure Act 2.0 as regards to employee benefit plans. Employee benefit plans generally are required to file annual returns/reports about, among...
