Home
Tax Alerts
Tax Briefing(s)
2026 Post-Filing Season Update2025 Tax Year-in-Review2025 Year-End Tax PlanningOne Big Beautiful Bill Act (Signed Into Law July 4, 2025)
2027 Inflation Adjustments for Health Savings Accounts Released (Rev. Proc. 2026-24)
The IRS has released the 2027 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2027, the annual limitation on deductions under Code Sec. 223(b)(2) for a...
The IRS has released the 2027 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2027, the annual limitation on deductions under Code Sec. 223(b)(2) for a...
IRS Adds New Trump Account Features to IRS Individual Accounts (IR 2026-68)
The IRS has introduced new online features that allow taxpayers to view and submit Trump Account elections through their IRS Individual Account. The new tools are meant to make the process easier, fa...
The IRS has introduced new online features that allow taxpayers to view and submit Trump Account elections through their IRS Individual Account. The new tools are meant to make the process easier, fa...
IRS and Security Summit Partners Launch New Fraud Prevention Framework (IR 2026-75)
The IRS and its Security Summit partners have announced a new framework to better protect taxpayers from identity theft and tax fraud. The updated approach is designed to improve information sharing a...
The IRS and its Security Summit partners have announced a new framework to better protect taxpayers from identity theft and tax fraud. The updated approach is designed to improve information sharing a...
IRS Highlights Verified Social Media and e-News Resources for Tax Information
The IRS has encouraged taxpayers to use official IRS social media accounts and e-News services to stay informed and avoid false tax information online. Social media can be a helpful way to get updates...
The IRS has encouraged taxpayers to use official IRS social media accounts and e-News services to stay informed and avoid false tax information online. Social media can be a helpful way to get updates...
ETAAC Report Highlights Technology, AI and Taxpayer Service Priorities (IR 2026-77)
The IRS Electronic Tax Administration Advisory Committee released its 2026 annual report with 18 recommendations aimed at improving electronic tax administration and taxpayer service. Six recommendati...
The IRS Electronic Tax Administration Advisory Committee released its 2026 annual report with 18 recommendations aimed at improving electronic tax administration and taxpayer service. Six recommendati...
Inflation Adjusted Credit Rate for Carbon Dioxide Sequestration Released (Notice 2026-29)
The IRS has released the inflation adjustment factor for the credit for carbon oxide sequestration under Code Sec. 45Q for 2026. The inflation adjustment factor is 1.4639, and the credit is $29.28 p...
The IRS has released the inflation adjustment factor for the credit for carbon oxide sequestration under Code Sec. 45Q for 2026. The inflation adjustment factor is 1.4639, and the credit is $29.28 p...
IRS Issues Nonconventional Source Fuel Reference Price for 2025 (Notice 2026-30)
The IRS has published the reference price under Code Sec. 45K(d)(2)(C). The credit period for the nonconventional source production credit under Code Sec. 45K ended on December 31, 2013, for facili...
The IRS has published the reference price under Code Sec. 45K(d)(2)(C). The credit period for the nonconventional source production credit under Code Sec. 45K ended on December 31, 2013, for facili...
2026 Marginal Production Percentage Depletion Rates Announced (Notice 2026-35)
The IRS has announced the applicable percentage under Code Sec. 613A to be used in determining percentage depletion for marginal properties for the 2026 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 2026 calendar year. Code Sec. 613A(c)(6)(C) defi...
AZ - Updated local tax rate table released
Arizona's Department of Revenue released the transaction privilege tax (TPT) rate chart effective July 1, 2026. It includes rate changes for Florence and South Tucson. Transaction Privilege and Other ...
Arizona's Department of Revenue released the transaction privilege tax (TPT) rate chart effective July 1, 2026. It includes rate changes for Florence and South Tucson. Transaction Privilege and Other ...
CA - 2026-2027 IFTA and interstate user diesel fuel tax rates announced
The motor fuels tax rate that International Fuel Tax Agreement (IFTA) and Interstate User Diesel Fuel Tax (DI) licensees report and pay with their quarterly tax returns for diesel fuel purchased outsi...
The motor fuels tax rate that International Fuel Tax Agreement (IFTA) and Interstate User Diesel Fuel Tax (DI) licensees report and pay with their quarterly tax returns for diesel fuel purchased outsi...
CO - Business personal property exemption set, qualified-senior primary residence classification repealed
Colorado has enacted legislation affecting the business personal property tax exemption and the qualified-senior primary residence classification.Business personal property tax exemptionThe business p...
Colorado has enacted legislation affecting the business personal property tax exemption and the qualified-senior primary residence classification.Business personal property tax exemptionThe business p...
FL - Guidance provided on rounding method to be used for in-person cash transactions
Guidance is provided for businesses regarding rounding to the nearest nickel for in-person cash transactions since the penny is no longer in production.Rounding MethodThe United States Treasury ended ...
Guidance is provided for businesses regarding rounding to the nearest nickel for in-person cash transactions since the penny is no longer in production.Rounding MethodThe United States Treasury ended ...
GA - Withholding guide for employers updated
Georgia updated its guidance on personal income tax withholding requirements for employers in 2026. The revisions include a reduction in the state income tax rate from 5.19% to 4.99%, effective May 11...
Georgia updated its guidance on personal income tax withholding requirements for employers in 2026. The revisions include a reduction in the state income tax rate from 5.19% to 4.99%, effective May 11...
HI - Renewable energy systems placed in service in 2026 not subject to aggregate credit cap
Hawaii Gov. Josh Green has issued an executive order effectively preserving renewable energy technologies income tax credits for tax year 2026. Act 24 (S.B. 3125), Laws 2026, made significant changes ...
Hawaii Gov. Josh Green has issued an executive order effectively preserving renewable energy technologies income tax credits for tax year 2026. Act 24 (S.B. 3125), Laws 2026, made significant changes ...
ID: Reminder issued on exemption for small sellers
daho residents are reminded about previously enacted legislation that provides a sales and use tax exemption for certain small sellers with annual sales of $5,000 or less. The exemption is effective J...
daho residents are reminded about previously enacted legislation that provides a sales and use tax exemption for certain small sellers with annual sales of $5,000 or less. The exemption is effective J...
IL - Unitary combined reporting rules adopted and amended
Illinois adopted and amended rules on unitary combined reporting groups to implement a change in how a group determines nexus and the apportionable income of each group member. Effective for tax yea...
Illinois adopted and amended rules on unitary combined reporting groups to implement a change in how a group determines nexus and the apportionable income of each group member. Effective for tax yea...
IA - Estimated income tax payments for business entities guidance released
The Iowa Department of Revenue has released new tax guidance regarding estimated income tax payments for business entities. Business entities that will owe $1000 or more in Iowa income or franchise ta...
The Iowa Department of Revenue has released new tax guidance regarding estimated income tax payments for business entities. Business entities that will owe $1000 or more in Iowa income or franchise ta...
MD - Modernized tax portal launching for individual filers
Maryland announced the expansion of Maryland Tax Connect, a modernized, cloud-based platform, to serve personal income tax filers. Maryland Tax Connect will be available to individual taxpayers beginn...
Maryland announced the expansion of Maryland Tax Connect, a modernized, cloud-based platform, to serve personal income tax filers. Maryland Tax Connect will be available to individual taxpayers beginn...
MA - Ballot measure removed due to misleading tax reduction summary
The Supreme Judicial Court of Massachusetts ruled that Initiative Petition 25-18, proposing a reduction in the state personal income tax rate from 5% to 4%, did not comply with the constitutional fair...
The Supreme Judicial Court of Massachusetts ruled that Initiative Petition 25-18, proposing a reduction in the state personal income tax rate from 5% to 4%, did not comply with the constitutional fair...
NV - Tax exemption criteria tightened for nonprofit organizations
Nevada's Department of Taxation has revised the criteria for nonprofit organizations to qualify for sales and use tax exemptions, requiring compliance with enhanced standards. In determining whether a...
Nevada's Department of Taxation has revised the criteria for nonprofit organizations to qualify for sales and use tax exemptions, requiring compliance with enhanced standards. In determining whether a...
NM - 2026 Q3 interest rates announced
New Mexico has announced that its interest rate on underpaid and overpaid taxes will increase to 7% for the third quarter of 2026. Penalty & Interest Rates, New Mexico Taxation and Revenue Departm...
New Mexico has announced that its interest rate on underpaid and overpaid taxes will increase to 7% for the third quarter of 2026. Penalty & Interest Rates, New Mexico Taxation and Revenue Departm...
NY - Guidance issued on reporting certain depreciation and research deductions for 2025
New York issued a notice discussing recent amendments in the budget that decoupled from federal accelerated depreciation for qualified production property and from the federal treatment of research an...
New York issued a notice discussing recent amendments in the budget that decoupled from federal accelerated depreciation for qualified production property and from the federal treatment of research an...
NC: Guidance issued on weight-based snuff tax, alternative nicotine products tax, and inventory tax
Guidance is issued regarding recently enacted legislation, effective July 1, 2025, that changed the North Carolina excise tax rate methodology for snuff, imposed a new excise tax on alternative nicoti...
Guidance is issued regarding recently enacted legislation, effective July 1, 2025, that changed the North Carolina excise tax rate methodology for snuff, imposed a new excise tax on alternative nicoti...
ND - Local rate changes announced
North Dakota has announced the following local sales and use tax changes effective July 1, 2026: (1) the city of Drayton will increase its city sales, use, and gross receipts tax to 3.5%; (2) the city...
North Dakota has announced the following local sales and use tax changes effective July 1, 2026: (1) the city of Drayton will increase its city sales, use, and gross receipts tax to 3.5%; (2) the city...
OH - 2026 third quarter PAT average wholesale prices released
Ohio has released the petroleum activity tax (PAT) statewide average wholesale prices for the third quarter of 2026.The average prices per gallon for the second quarter are:$1.956 for unleaded gasolin...
Ohio has released the petroleum activity tax (PAT) statewide average wholesale prices for the third quarter of 2026.The average prices per gallon for the second quarter are:$1.956 for unleaded gasolin...
OR - Portland arts tax amended
Portland has amended its Arts Tax to provide tax relief and enhance the sustainability of the Arts Access Fund.The tax is increased from $35 to $50 on each resident of Portland who is at least 18 in t...
Portland has amended its Arts Tax to provide tax relief and enhance the sustainability of the Arts Access Fund.The tax is increased from $35 to $50 on each resident of Portland who is at least 18 in t...
PA - Philadelphia amends cell tower U&O tax
Philadelphia has approved a budget that includes changes to the Use & Occupancy (U&O) Tax calculation for properties with cell towers. The new calculation method is intended to ensure that cel...
Philadelphia has approved a budget that includes changes to the Use & Occupancy (U&O) Tax calculation for properties with cell towers. The new calculation method is intended to ensure that cel...
TN - Relief application process simplified for certain elderly taxpayers
Under a recently enacted Tennessee property tax law, a collecting official or the division of property assessments is not required to request documentation verifying the income of an elderly person se...
Under a recently enacted Tennessee property tax law, a collecting official or the division of property assessments is not required to request documentation verifying the income of an elderly person se...
TX - Cost of goods sold rule amended
Texas revised its rule regarding the cost of goods sold (COGS) deduction under the state's franchise tax to address some recent legislation, policy changes, and court cases. The amendments include:Dep...
Texas revised its rule regarding the cost of goods sold (COGS) deduction under the state's franchise tax to address some recent legislation, policy changes, and court cases. The amendments include:Dep...
UT - Bulletin issued on decrease of motor fuel tax rate
The Utah State Tax Commission has issued a bulletin regarding previously enacted legislation decreasing the motor fuel tax rate from 37.9 cents to 31.9 cents per gallon, effective July 1, 2026. This o...
The Utah State Tax Commission has issued a bulletin regarding previously enacted legislation decreasing the motor fuel tax rate from 37.9 cents to 31.9 cents per gallon, effective July 1, 2026. This o...
VA - Taxpayer not required to use single sales factor apportionment method
The Virginia Department of Taxation issued a corporate income tax ruling regarding the appropriate apportionment method that the taxpayer was required to use. Specifically, the Department ruled that t...
The Virginia Department of Taxation issued a corporate income tax ruling regarding the appropriate apportionment method that the taxpayer was required to use. Specifically, the Department ruled that t...
Welcome and thank you for visiting our Website. In addition to providing you with a profile of our firm and the services we provide, this Website has been designed to become a helpful resource tool to you, our valued clients and visitors. Our dedication to superior client service has brought us to the Internet as we endeavor to continue to provide the highest quality professional service and guidance.
As you browse through our Website, you will see that we have highlighted background information on our firm and the services we provide. We have also included useful resources such as informative articles (in our Newsletter section) and interactive financial calculators (in our Financial Tools section). In addition, we have taken the time to gather many links to external Websites that we think would be of interest to our clients and visitors (in our Internet Links section).
Please feel free to contact us with any questions or comments you may have - we'd love to hear from you. We pride ourselves on being proactive and responsive to our clients' inquiries and suggestions.