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One Big Beautiful Bill Act (Passed by House May 22, 2025)2025 Post-Filing Season Update2024 Post-Election Tax Policy Update
2026 Inflation Adjustments for Health Savings Accounts Released (Rev. Proc. 2025-19)
The IRS has released the 2026 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2026, the annual limitation on deductions under Code Sec. 223(b)(2) for a...
IRS Reminds Taxpayers and Small Businesses to Stay Vigilant Against Scams Year-Round (IR-2025-57)
The IRS has marked National Small Business Week by reminding taxpayers and businesses to remain alert to scams that continue long after the April 15 tax deadline. Through its annual Dirty Dozen li...
Marginal Production Percentage Depletion Rates Announced (Notice 2025-20)
The IRS has announced the applicable percentage under Code Sec. 613A to be used in determining percentage depletion for marginal properties for the 2025 calendar year. Code Sec. 613A(c)(6)(C) defi...
Earned Income Tax Credit Marks 50th Year Aiding Working Families (IR-2025-38)
The IRS acknowledged the 50th anniversary of the Earned Income Tax Credit (EITC), which has helped lift millions of working families out of poverty since its inception. Signed into law by President ...
Applicable Terminal Charge and SIFL Rates for Determining Value of Noncommercial Flights on Employer-Provided Aircraft Issued (Rev. Rul. 2025-09)
The IRS has released the applicable terminal charge and the Standard Industry Fare Level (SIFL) mileage rate for determining the value of noncommercial flights on employer-provided aircraft in effect ...
IRS Urges Taxpayers To Review Withholding Early To Avoid Surprises Next Filing Season (IR-2025-52)
The IRS is encouraging individuals to review their tax withholding now to avoid unexpected bills or large refunds when filing their 2025 returns next year. Because income tax operates on a pay-as-you-...
IRS Whistleblower Office Unveils First Multi-Year Operating Plan To Strengthen Program Oversight (IR 2025-40)
The IRS has reminded individual taxpayers that they do not need to wait until April 15 to file their 2024 tax returns. Those who owe but cannot pay in full should still file by the deadline to avoid t...
AZ - Jail facilities excise tax extension proposed through countywide general election
Arizona will allow counties to increase the jail facilities excise tax. Newly passed legislation allows the board of supervisors of any county that levies a jail facilities excise tax to call for a co...
CA - Federal extension for storms applied to California claim for refund
A taxpayer's claim for refund of California income taxes was not barred by the statute of limitations, because California had conformed to an IRS notice that granted taxpayers in certain counties who ...
CO - County lodging tax cap increased
Colorado has revised its county lodging tax provisions to:allow counties to levy a tax of up to 6% (previously, 2%), subject to local voter approval; andexpand the allowable uses of revenue from the t...
FL - Guidance issued on local option fuel tax ordinances
Any county in the state of Florida may, by extraordinary vote of the membership of its governing body or subject to a referendum, levy a ninth-cent ($0.01) or local option fuel tax ($0.01 to $0.11) on...
GA - Exemption for equipment used in concrete mixing and transport extended
Georgia has extended the sales and use tax exemptions for certain machinery or equipment used to mix or transport concrete. Specifically, the sunset date has been moved to June 30, 2031 (previously, J...
HI - PTE tax credit claimants must adjust income for share of taxes paid by PTE
For taxable years beginning after December 31, 2024, a qualified member of an electing pass-through entity (PTE) who claims a Hawaii PTE tax credit must add back to the member’s taxable income the m...
ID: State tax commission analyzing implementation of parental choice tax credit
The Idaho State Tax Commission announced that it is analyzing the implementation of previously enacted the Idaho Parental Choice Tax Credit. Once the program details are available, the Commission will...
IL - Guidance issued on motor fuel use tax license and decal rules
Illinois issued guidance on motor fuel use tax license and decal rules under the International Fuel Tax Agreement (IFTA). Motor Fuel Use Tax License and Decal Enforcement Guide, Illinois Department o...
IA - Returns not filed electronically treated as not filed at all
The Iowa General Assembly has enacted a law to encourage electronic filing of sales and use tax returns. In Iowa, the GovConnectIowa online filing system has gained in popularity, however in 2024, ove...
MD - Personal income tax abatement expanded to uniformed service members, public health emergency responders
Applicable to tax years after 2024, Maryland personal income tax is abated for those who die while serving as members of the uniformed services (formerly, members of the armed forces). In addition, pe...
MA - Financial institutions eligible for research tax credits
The Massachusetts Department of Revenue explains their position following the Appellate Tax Board's decision confirming that financial institutions are eligible to claim the corporate income tax resea...
NV - Regulation on reduction of taxable value amended
Nevada has amended its regulation on the deduction of obsolescence from the taxable value of property. In determining the amount of obsolescence to be deducted, the State Board and the county boards o...
NM - High-wage jobs tax credit threshold job definition modified
New Mexico has enacted legislation making a minor adjustment to the high-wage jobs tax credit by changing the definition of a “threshold job.” Threshold jobs are used in the tax credit to track a ...
NY - Reinsurance allocation percentages released
New York has released the current list of reinsurance allocation percentages for insurance franchise tax purposes. The Department of Taxation and Finance advises that the percentage listed for a parti...
NC: Taxi and ride-share companies must register for new transportation commerce tax
In anticipation of the new North Carolina transportation commerce tax on for-hire ground transport services effective July 1, 2025, the North Carolina Department of Revenue advises taxis and transport...
ND - Coal severance and coal conversion facilities taxes revised
The existing North Dakota coal conversion facilities tax exemption is modified to be a partial exemption from the coal conversion state share of the tax, equal to:90% for taxable production after June...
OH - Lake County increases tax rate
Ohio has announced a change in the sales and use tax rate for Lake County that will be effective July 1, 2025. The rate will increase from the current 7.0% to 7.25%. Tax Rates and Changes, Ohio Depar...
OR - Oregon health funding measures extended through 2032
Oregon has extended the sunset dates for certain medical provider assessments, from 2026 to December 31, 2032.Specifically, the sunset date of:health insurance plan premiums or premium equivalents is ...
PA - Administration launches online petition center for taxpayers to file appeals
Pennsylvania launched a new online platform to provide an improved tax appeals process for taxpayers. The new Board of Appeals Online Petition Center offers an improved user interface, a feature to ...
TN - Exemption for subsidiaries of agricultural cooperative associations expanded
The Tennessee franchise and excise tax exemption for agricultural cooperative association subsidiaries organized as corporations is expanded to include subsidiaries formed as various other types of bu...
TX - Revenue exclusion for certain securities transaction payments
Texas has enacted legislation exempting certain securities transaction payments from total revenue for Texas franchise tax purposes. The new exclusion applies to transaction rebate payments made by a ...
UT - Rich, salt lake and summit Counties impose County-wide local taxes
Effective July 1, 2025, the following counties impose the indicated county-wide taxes:Rich County imposes a 0.3% county option sales and use tax to fund a fixed guideway, public transit or highways;Sa...
VA - Enacted budget provides rebate checks, increases standard deduction, extends elective PTET tax, extends and amends credits, and makes other changes
Virginia enacted biennial budget legislation containing various corporate income, personal income, retail sales and use, and other tax provisions.Rebate ChecksTax refund checks will be issued in an am...
2026 Inflation Adjustments for Health Savings Accounts Released (Rev. Proc. 2025-19)
The IRS has released the 2026 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2026, the annual limitation on deductions under Code Sec. 223(b)(2) for a...
IRS Reminds Taxpayers and Small Businesses to Stay Vigilant Against Scams Year-Round (IR-2025-57)
The IRS has marked National Small Business Week by reminding taxpayers and businesses to remain alert to scams that continue long after the April 15 tax deadline. Through its annual Dirty Dozen li...
Marginal Production Percentage Depletion Rates Announced (Notice 2025-20)
The IRS has announced the applicable percentage under Code Sec. 613A to be used in determining percentage depletion for marginal properties for the 2025 calendar year. Code Sec. 613A(c)(6)(C) defi...
Earned Income Tax Credit Marks 50th Year Aiding Working Families (IR-2025-38)
The IRS acknowledged the 50th anniversary of the Earned Income Tax Credit (EITC), which has helped lift millions of working families out of poverty since its inception. Signed into law by President ...
Applicable Terminal Charge and SIFL Rates for Determining Value of Noncommercial Flights on Employer-Provided Aircraft Issued (Rev. Rul. 2025-09)
The IRS has released the applicable terminal charge and the Standard Industry Fare Level (SIFL) mileage rate for determining the value of noncommercial flights on employer-provided aircraft in effect ...
IRS Urges Taxpayers To Review Withholding Early To Avoid Surprises Next Filing Season (IR-2025-52)
The IRS is encouraging individuals to review their tax withholding now to avoid unexpected bills or large refunds when filing their 2025 returns next year. Because income tax operates on a pay-as-you-...
IRS Whistleblower Office Unveils First Multi-Year Operating Plan To Strengthen Program Oversight (IR 2025-40)
The IRS has reminded individual taxpayers that they do not need to wait until April 15 to file their 2024 tax returns. Those who owe but cannot pay in full should still file by the deadline to avoid t...
AZ - Jail facilities excise tax extension proposed through countywide general election
Arizona will allow counties to increase the jail facilities excise tax. Newly passed legislation allows the board of supervisors of any county that levies a jail facilities excise tax to call for a co...
CA - Federal extension for storms applied to California claim for refund
A taxpayer's claim for refund of California income taxes was not barred by the statute of limitations, because California had conformed to an IRS notice that granted taxpayers in certain counties who ...
CO - County lodging tax cap increased
Colorado has revised its county lodging tax provisions to:allow counties to levy a tax of up to 6% (previously, 2%), subject to local voter approval; andexpand the allowable uses of revenue from the t...
FL - Guidance issued on local option fuel tax ordinances
Any county in the state of Florida may, by extraordinary vote of the membership of its governing body or subject to a referendum, levy a ninth-cent ($0.01) or local option fuel tax ($0.01 to $0.11) on...
GA - Exemption for equipment used in concrete mixing and transport extended
Georgia has extended the sales and use tax exemptions for certain machinery or equipment used to mix or transport concrete. Specifically, the sunset date has been moved to June 30, 2031 (previously, J...
HI - PTE tax credit claimants must adjust income for share of taxes paid by PTE
For taxable years beginning after December 31, 2024, a qualified member of an electing pass-through entity (PTE) who claims a Hawaii PTE tax credit must add back to the member’s taxable income the m...
ID: State tax commission analyzing implementation of parental choice tax credit
The Idaho State Tax Commission announced that it is analyzing the implementation of previously enacted the Idaho Parental Choice Tax Credit. Once the program details are available, the Commission will...
IL - Guidance issued on motor fuel use tax license and decal rules
Illinois issued guidance on motor fuel use tax license and decal rules under the International Fuel Tax Agreement (IFTA). Motor Fuel Use Tax License and Decal Enforcement Guide, Illinois Department o...
IA - Returns not filed electronically treated as not filed at all
The Iowa General Assembly has enacted a law to encourage electronic filing of sales and use tax returns. In Iowa, the GovConnectIowa online filing system has gained in popularity, however in 2024, ove...
MD - Personal income tax abatement expanded to uniformed service members, public health emergency responders
Applicable to tax years after 2024, Maryland personal income tax is abated for those who die while serving as members of the uniformed services (formerly, members of the armed forces). In addition, pe...
MA - Financial institutions eligible for research tax credits
The Massachusetts Department of Revenue explains their position following the Appellate Tax Board's decision confirming that financial institutions are eligible to claim the corporate income tax resea...
NV - Regulation on reduction of taxable value amended
Nevada has amended its regulation on the deduction of obsolescence from the taxable value of property. In determining the amount of obsolescence to be deducted, the State Board and the county boards o...
NM - High-wage jobs tax credit threshold job definition modified
New Mexico has enacted legislation making a minor adjustment to the high-wage jobs tax credit by changing the definition of a “threshold job.” Threshold jobs are used in the tax credit to track a ...
NY - Reinsurance allocation percentages released
New York has released the current list of reinsurance allocation percentages for insurance franchise tax purposes. The Department of Taxation and Finance advises that the percentage listed for a parti...
NC: Taxi and ride-share companies must register for new transportation commerce tax
In anticipation of the new North Carolina transportation commerce tax on for-hire ground transport services effective July 1, 2025, the North Carolina Department of Revenue advises taxis and transport...
ND - Coal severance and coal conversion facilities taxes revised
The existing North Dakota coal conversion facilities tax exemption is modified to be a partial exemption from the coal conversion state share of the tax, equal to:90% for taxable production after June...
OH - Lake County increases tax rate
Ohio has announced a change in the sales and use tax rate for Lake County that will be effective July 1, 2025. The rate will increase from the current 7.0% to 7.25%. Tax Rates and Changes, Ohio Depar...
OR - Oregon health funding measures extended through 2032
Oregon has extended the sunset dates for certain medical provider assessments, from 2026 to December 31, 2032.Specifically, the sunset date of:health insurance plan premiums or premium equivalents is ...
PA - Administration launches online petition center for taxpayers to file appeals
Pennsylvania launched a new online platform to provide an improved tax appeals process for taxpayers. The new Board of Appeals Online Petition Center offers an improved user interface, a feature to ...
TN - Exemption for subsidiaries of agricultural cooperative associations expanded
The Tennessee franchise and excise tax exemption for agricultural cooperative association subsidiaries organized as corporations is expanded to include subsidiaries formed as various other types of bu...
TX - Revenue exclusion for certain securities transaction payments
Texas has enacted legislation exempting certain securities transaction payments from total revenue for Texas franchise tax purposes. The new exclusion applies to transaction rebate payments made by a ...
UT - Rich, salt lake and summit Counties impose County-wide local taxes
Effective July 1, 2025, the following counties impose the indicated county-wide taxes:Rich County imposes a 0.3% county option sales and use tax to fund a fixed guideway, public transit or highways;Sa...
VA - Enacted budget provides rebate checks, increases standard deduction, extends elective PTET tax, extends and amends credits, and makes other changes
Virginia enacted biennial budget legislation containing various corporate income, personal income, retail sales and use, and other tax provisions.Rebate ChecksTax refund checks will be issued in an am...

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