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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...
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...
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...
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 ...
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 ...
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-...
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...
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 - Local rate changes announced
The Arizona Department of Revenue has announced new local transaction privilege tax (TPT) rate changes.DouglasThe City of Douglas has decreased the transaction privilege tax on amusements to 0.0% effe...
The Arizona Department of Revenue has announced new local transaction privilege tax (TPT) rate changes.DouglasThe City of Douglas has decreased the transaction privilege tax on amusements to 0.0% effe...
CA - IRC conformity bill advances
The California Senate has passed a bill that would update the state's Internal Revenue Code (IRC) conformity date to January 1, 2025, for taxable years beginning on or after January 1, 2025, with spec...
The California Senate has passed a bill that would update the state's Internal Revenue Code (IRC) conformity date to January 1, 2025, for taxable years beginning on or after January 1, 2025, with spec...
CO - Achieving a better life experience deduction extended
Colorado has enacted legislation extending the Achieving a Better Life Experience state income tax deduction through tax year 2030. Previously, the deduction was set to expire after tax year 2025. The...
Colorado has enacted legislation extending the Achieving a Better Life Experience state income tax deduction through tax year 2030. Previously, the deduction was set to expire after tax year 2025. The...
FL - Exemption for certain coin or currency revised
The Florida sales and use tax exemption for certain coin or currency is revised. A coin or currency that is legal tender of the United States, or any gold or silver coin recognized as legal tender in ...
The Florida sales and use tax exemption for certain coin or currency is revised. A coin or currency that is legal tender of the United States, or any gold or silver coin recognized as legal tender in ...
GA - Tax rate chart for energy sold to manufacturers issued for Q3 of 2025
Georgia has released an updated chart of local sales and use tax rates for energy sold to manufacturers. The rates are effective July 1, 2025. Energy Sold to Manufacturers, Georgia Department of Reve...
Georgia has released an updated chart of local sales and use tax rates for energy sold to manufacturers. The rates are effective July 1, 2025. Energy Sold to Manufacturers, Georgia Department of Reve...
HI - - IRC conformity updated
Hawaii has updated its Internal Revenue Code tie-in date for computing corporate and individual income tax liability to December 31, 2024, for tax years beginning after December 31, 2024. Previously, ...
Hawaii has updated its Internal Revenue Code tie-in date for computing corporate and individual income tax liability to December 31, 2024, for tax years beginning after December 31, 2024. Previously, ...
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...
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 - Rules on automobile renting tax amended
Illinois amended rules on the automobile renting occupation and use tax to reflect a tax exclusion for peer-to-peer car sharing. The exclusion applies if the shared car owner paid the tax either at ...
Illinois amended rules on the automobile renting occupation and use tax to reflect a tax exclusion for peer-to-peer car sharing. The exclusion applies if the shared car owner paid the tax either at ...
IA - Proper avenue for disabled veteran tax credit complaint discussed
The Iowa Department of Revenue (DOR) refused to issue a declaratory order because the questions presented by the petition would more properly be resolved by another body with jurisdiction over the mat...
The Iowa Department of Revenue (DOR) refused to issue a declaratory order because the questions presented by the petition would more properly be resolved by another body with jurisdiction over the mat...
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...
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...
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 - Reimbursement requirement authorized for renewable energy facilities seeking partial abatement
Nevada amended the law that authorizes renewable energy facilities to apply for a partial abatement of sales and use and property taxes. The amendment allows a board of county commissioners, unless an...
Nevada amended the law that authorizes renewable energy facilities to apply for a partial abatement of sales and use and property taxes. The amendment allows a board of county commissioners, unless an...
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 ...
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 - Taxability of out-of-state online retailer's purchase of order fulfillment services and storage of inventory discussed
The New York Department of Taxation and Finance issued an advisory opinion regarding whether an out-of-state online retailer’s purchase of certain order fulfillment services in New York and its stor...
The New York Department of Taxation and Finance issued an advisory opinion regarding whether an out-of-state online retailer’s purchase of certain order fulfillment services in New York and its stor...
NC: Type of real property interest that may be donated under the conservation tax credit is expanded
The type of real property interest that may be donated to be eligible for the conservation tax credit against North Carolina corporate and personal income taxes is expanded to match the federal defini...
The type of real property interest that may be donated to be eligible for the conservation tax credit against North Carolina corporate and personal income taxes is expanded to match the federal defini...
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...
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 - 2025 third quarter PAT average wholesale prices released
Ohio has released the petroleum activity tax (PAT) statewide average wholesale prices for the third quarter of 2025.The average prices per gallon for the third quarter are:$1.998 for unleaded gasoline...
Ohio has released the petroleum activity tax (PAT) statewide average wholesale prices for the third quarter of 2025.The average prices per gallon for the third quarter are:$1.998 for unleaded gasoline...
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 ...
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 - Realty transfer tax factors updated
The Pennsylvania Department of Revenue (DOR) has issued revised real estate valuation factors based on sales data compiled by the State Tax Equalization Board in 2023. These factors are the mathematic...
The Pennsylvania Department of Revenue (DOR) has issued revised real estate valuation factors based on sales data compiled by the State Tax Equalization Board in 2023. These factors are the mathematic...
TN - Affordable housing community investment credit for financial institutions modified
Tennessee enacted a law changing the base for the annual community investment franchise and excise tax credit allowed to financial institutions from certain percentages of the unpaid principal balance...
Tennessee enacted a law changing the base for the annual community investment franchise and excise tax credit allowed to financial institutions from certain percentages of the unpaid principal balance...
TX - Certain industrial rental businesses eligible for reduced tax rate
Texas has enacted legislation expanding the industries that may use the reduced Texas franchise tax rate for those engaged in retail or wholesale trade. Effective for franchise tax reports due on or a...
Texas has enacted legislation expanding the industries that may use the reduced Texas franchise tax rate for those engaged in retail or wholesale trade. Effective for franchise tax reports due on or 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...
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 - Overpayment credit barred by statute of limitations
The Virginia Department of Taxation properly denied the claim by the taxpayer’s estate for an income tax overpayment credit because the taxpayer’s return was filed beyond the refund period allowed...
The Virginia Department of Taxation properly denied the claim by the taxpayer’s estate for an income tax overpayment credit because the taxpayer’s return was filed beyond the refund period allowed...
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