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2023 Year-end Tax PlanningConsolidated Appropriations Act, 2023Inflation Reduction Act of 2022, Signed Aug. 16Inflation Reduction Act of 2022
IRS Urges Taxpayers to Review Withholding, IR-2023-205
The IRS has urged taxpayers to promptly review their tax withholding to avoid surprises, whether in the form of significant refunds or balances due when filing taxes next year. The IRS has p...
The IRS has urged taxpayers to promptly review their tax withholding to avoid surprises, whether in the form of significant refunds or balances due when filing taxes next year. The IRS has p...
Low and Moderate Income Taxpayers Can Save More through Saver’s Credit in 2024, IR-2023-222
The IRS has reminded low and moderate income taxpayers that they can save more for their retirement now through Saver's Credit. This credit is available to taxpayers who are 18 years or old...
The IRS has reminded low and moderate income taxpayers that they can save more for their retirement now through Saver's Credit. This credit is available to taxpayers who are 18 years or old...
IRS Reminds IRA Owners of Tax-Free Charitable Transfer Option, IR-2023-215
The IRS has reminded individual retirement arrangement (IRA) owners, aged 70½ or older, of tax-free charitable transfers permitting senior citizens to contribute up to $100,000 annually to...
The IRS has reminded individual retirement arrangement (IRA) owners, aged 70½ or older, of tax-free charitable transfers permitting senior citizens to contribute up to $100,000 annually to...
Energy Credit Online Tool Now Available to Sellers, IR-2023-202
The IRS has announced that enrollment to the IRS Energy Credit Online tool is now open to the sellers of clean vehicles. The Energy Credits tool is available free of cost and will enableÂ...
The IRS has announced that enrollment to the IRS Energy Credit Online tool is now open to the sellers of clean vehicles. The Energy Credits tool is available free of cost and will enableÂ...
IRS Offers Cybersecurity Tips, IR-2023-200
The IRS and Security Summit partners reminded taxpayers to remain vigilant against potential cybersecurity threats. As the National Cybersecurity Awareness Month is wrapped up, taxpayers were encour...
The IRS and Security Summit partners reminded taxpayers to remain vigilant against potential cybersecurity threats. As the National Cybersecurity Awareness Month is wrapped up, taxpayers were encour...
IRS Cautions Against Charity Scams Amid Global Crisis, IR-2023-196
The IRS has issued a warning to taxpayers, advising them to be cautious of fraudulent solicitors who pretend to represent genuine charities. These deceptive charities divert donations away from t...
The IRS has issued a warning to taxpayers, advising them to be cautious of fraudulent solicitors who pretend to represent genuine charities. These deceptive charities divert donations away from t...
AL - Assessment upheld for failure to maintain adequate records
A convenience store operator (taxpayer) and its sole member were properly assessed Alabama sales and use tax and personal income tax, respectively, because the taxpayer failed to maintain adequate boo...
A convenience store operator (taxpayer) and its sole member were properly assessed Alabama sales and use tax and personal income tax, respectively, because the taxpayer failed to maintain adequate boo...
AK - Interest rates announced for Q3 of 2023
The Alaska interest rate for delinquent taxes and overpayment of taxes is set at 10.5%, compounded quarterly, for the period beginning July 1, 2023. Quarterly Interest Rate, Alaska Department of Reven...
The Alaska interest rate for delinquent taxes and overpayment of taxes is set at 10.5%, compounded quarterly, for the period beginning July 1, 2023. Quarterly Interest Rate, Alaska Department of Reven...
AZ - No tax rate changes effective December 1st
Arizona has announced that there are no transaction privilege tax(TPT) rate changes effective December 1, 2023. Transaction Privilege and Other Tax Rate Tables, Arizona Department of Revenue, November...
Arizona has announced that there are no transaction privilege tax(TPT) rate changes effective December 1, 2023. Transaction Privilege and Other Tax Rate Tables, Arizona Department of Revenue, November...
AR - Local tax rate changes announced
The following Arkansas local sales tax rate changes are effective January 1, 2024:Local RatesThe city of Sulphur Springs increases its sales and use tax from 1.0% to 2.0%.The city of Alma increases it...
The following Arkansas local sales tax rate changes are effective January 1, 2024:Local RatesThe city of Sulphur Springs increases its sales and use tax from 1.0% to 2.0%.The city of Alma increases it...
CA - Employers affected by los angeles freeway fire may request payroll tax extensions
Employers in Los Angeles County directly affected by the Freeway Fire may request up to a two month extension of time from the California Employment Development Department to file their state payroll ...
Employers in Los Angeles County directly affected by the Freeway Fire may request up to a two month extension of time from the California Employment Development Department to file their state payroll ...
CO - Governor calls for special session
Colorado Gov. Jared Polis has called for a special session of the legislature to convene to discuss providing property tax relief for taxpayers. The special session is scheduled to begin November 17, ...
Colorado Gov. Jared Polis has called for a special session of the legislature to convene to discuss providing property tax relief for taxpayers. The special session is scheduled to begin November 17, ...
CT - Guidance on net deferred tax liability deduction updated
The Connecticut Department of Revenue Services has updated its guidance on the calculation of the net deferred tax liability (DTL) deduction to reflect legislation that extended the installment period...
The Connecticut Department of Revenue Services has updated its guidance on the calculation of the net deferred tax liability (DTL) deduction to reflect legislation that extended the installment period...
DE - Rules adopted on refund intercept claims from other states
Delaware adopted rules that provide guidance on tax refund intercept requests from other states, including:access to information contained in a taxpayer's Delaware and federal personal income tax retu...
Delaware adopted rules that provide guidance on tax refund intercept requests from other states, including:access to information contained in a taxpayer's Delaware and federal personal income tax retu...
DC - Sales tax on additional mandatory charges as a result of initiative 82 discussed
As businesses begin to comply with Initiative 82, which phases out the District of Columbia tipped minimum wage for servers, bartenders, and other tipped workers beginning May 1, 2023, the Office of T...
As businesses begin to comply with Initiative 82, which phases out the District of Columbia tipped minimum wage for servers, bartenders, and other tipped workers beginning May 1, 2023, the Office of T...
FL - Change in Collier County local communications services tax rates announced
Effective January 1, 2024, the Florida local communications services tax (CST) rates in Collier County are as follows:2.1% in the unincorporated areas of Collier County;3.9% in Everglades City;2.1% in...
Effective January 1, 2024, the Florida local communications services tax (CST) rates in Collier County are as follows:2.1% in the unincorporated areas of Collier County;3.9% in Everglades City;2.1% in...
GA - Qualified timberland property appraisal manual for 2024 issued
For Georgia property tax purposes, the Department of Revenue updated the qualified timberland property appraisal manual used in the appraisal of qualified timberland property. Qualified Timberland Pro...
For Georgia property tax purposes, the Department of Revenue updated the qualified timberland property appraisal manual used in the appraisal of qualified timberland property. Qualified Timberland Pro...
HI - New pass-through entity tax guidance provided
Hawaii has released new guidance on the pass-through entity (PTE) tax enacted by Act 50 (S.B. 1437), Laws 2023. The new guidance replaces and supersedes Tax Information Release 2023-01, which was publ...
Hawaii has released new guidance on the pass-through entity (PTE) tax enacted by Act 50 (S.B. 1437), Laws 2023. The new guidance replaces and supersedes Tax Information Release 2023-01, which was publ...
ID - Investment tax credit on purchase of farm equipment properly denied
The Idaho Income Tax Audit Bureau (bureau) properly denied an investment tax credit claimed by taxpayers on the purchase of certain farm property, because the taxpayers failed to substantiate their cl...
The Idaho Income Tax Audit Bureau (bureau) properly denied an investment tax credit claimed by taxpayers on the purchase of certain farm property, because the taxpayers failed to substantiate their cl...
IL - Volunteer emergency worker credit rule adopted
Illinois adopted a rule implementing the personal income tax credit for emergency workers who:serve as a volunteer for a fire department, fire protection district, or fire protection association in th...
Illinois adopted a rule implementing the personal income tax credit for emergency workers who:serve as a volunteer for a fire department, fire protection district, or fire protection association in th...
IN - Assessments properly reverted as failure to meet burden of proof triggered reversionary clause
The Indiana Tax Court affirmed the Board of Tax Review’s (Board’s) final determination because the repeal of Indiana Code § 6-1.1-15-17.2 did not apply retroactively. In this matter, the Board de...
The Indiana Tax Court affirmed the Board of Tax Review’s (Board’s) final determination because the repeal of Indiana Code § 6-1.1-15-17.2 did not apply retroactively. In this matter, the Board de...
IA - 2024 individual income tax brackets released
Iowa has released the 2024 individual income tax brackets.The 2024 rates for married taxpayer filing jointly are:$0 to $12,420, tax is $0.00 plus 4.40% x excess over $0;$12,420 to $62,100, tax is $546...
Iowa has released the 2024 individual income tax brackets.The 2024 rates for married taxpayer filing jointly are:$0 to $12,420, tax is $0.00 plus 4.40% x excess over $0;$12,420 to $62,100, tax is $546...
KS - Amendments to credit for low-income students scholarship contributions explained
Kansas issued guidance regarding the amendments to the corporate and personal income tax credit that is available for certain contributions to a scholarship-granting organization which provides eligib...
Kansas issued guidance regarding the amendments to the corporate and personal income tax credit that is available for certain contributions to a scholarship-granting organization which provides eligib...
KY - Annual adjustment of standard deduction for 2024 tax year is $3,160
Kentucky personal income tax standard deduction for the 2024 tax year is $3,160, an increase of $180 from the last year. For 2024, the state personal income tax rate is 4.0%, a 0.5% reduction from the...
Kentucky personal income tax standard deduction for the 2024 tax year is $3,160, an increase of $180 from the last year. For 2024, the state personal income tax rate is 4.0%, a 0.5% reduction from the...
LA - Fortify homes program guidance
The Louisiana Department of Revenue has issued guidance regarding the availability of the Construction Code Voluntary Retrofitting Deduction against personal income tax to taxpayers who also receive a...
The Louisiana Department of Revenue has issued guidance regarding the availability of the Construction Code Voluntary Retrofitting Deduction against personal income tax to taxpayers who also receive a...
ME - Mail-order pharmacy apportionment
The Maine Supreme Judicial Court held that a nationwide mail-order prescription drug insurance business was required to apportion its receipts to the locations of the retail pharmacies from which pres...
The Maine Supreme Judicial Court held that a nationwide mail-order prescription drug insurance business was required to apportion its receipts to the locations of the retail pharmacies from which pres...
MD - Tax alert
The Maryland Comptroller's Office has issued a personal income tax alert regarding the requirement of an employer to notify employees of potential earned income tax credit (EITC) eligibility. Employer...
The Maryland Comptroller's Office has issued a personal income tax alert regarding the requirement of an employer to notify employees of potential earned income tax credit (EITC) eligibility. Employer...
MA - Withholding regulations finalized
Massachusetts finalized amendments to personal income tax regulations that clarify withholding for:income from sports wagering; andlottery winnings of more than $600.830 CMR 62B.2.1, Massachusetts Dep...
Massachusetts finalized amendments to personal income tax regulations that clarify withholding for:income from sports wagering; andlottery winnings of more than $600.830 CMR 62B.2.1, Massachusetts Dep...
MI - Procedural changes for the 2024 assessment year announced
The Michigan State Tax Commission has issued a bulletin to assessors and equalization directors regarding property tax assessment procedure that summarizes statutory and procedural changes for the 202...
The Michigan State Tax Commission has issued a bulletin to assessors and equalization directors regarding property tax assessment procedure that summarizes statutory and procedural changes for the 202...
MN - Preliminary property tax levies for 2024 announced
The Minnesota Department of Revenue (department) has announced the preliminary maximum property tax levies for 2024 that were reported by local governments and passed by local school referenda on Nove...
The Minnesota Department of Revenue (department) has announced the preliminary maximum property tax levies for 2024 that were reported by local governments and passed by local school referenda on Nove...
MS - Charitable contribution credits
The Mississippi Department of Revenue issued a notice announcing that applications for Mississippi's charitable contribution credits against personal and business income tax will only be accepted thro...
The Mississippi Department of Revenue issued a notice announcing that applications for Mississippi's charitable contribution credits against personal and business income tax will only be accepted thro...
MO - Medical care savings account deduction discussed
Montana issue a notice explaining the personal income tax medical care savings account (MSA) deduction, which was extended by legislation enacted earlier in the year.A Montana MSA is a savings account...
Montana issue a notice explaining the personal income tax medical care savings account (MSA) deduction, which was extended by legislation enacted earlier in the year.A Montana MSA is a savings account...
MT - Tax simplification beginning in 2024 discussed
Montana has issued guidance discussing 2021 legislation that significantly revised the state's personal income tax, applicable beginning in tax year 2024. The guidance covers a change in the tax compu...
Montana has issued guidance discussing 2021 legislation that significantly revised the state's personal income tax, applicable beginning in tax year 2024. The guidance covers a change in the tax compu...
NE - Legislative summary issued
The Nebraska Department of Revenue has released a summary of 2023 property tax legislative changes. Among the amendments are changes to the requirements for property to receive special valuation and c...
The Nebraska Department of Revenue has released a summary of 2023 property tax legislative changes. Among the amendments are changes to the requirements for property to receive special valuation and c...
NV - Proposal to exempt diapers headed to voters
In the 2024 general election, Nevada voters will decide if diapers will be exempt from all sales and use taxes effective January 1, 2025. If approved by the voters, the exemption would be in effect un...
In the 2024 general election, Nevada voters will decide if diapers will be exempt from all sales and use taxes effective January 1, 2025. If approved by the voters, the exemption would be in effect un...
NH - Interest rates increase
Interest rates on underpayments and refunds will increase for 2024.For 2024, rates are:9% for underpayments; and6% for refunds.Technical Information Release TIR 2023-002, New Hampshire Department of R...
Interest rates on underpayments and refunds will increase for 2024.For 2024, rates are:9% for underpayments; and6% for refunds.Technical Information Release TIR 2023-002, New Hampshire Department of R...
NJ - Banking corporation reporting guidance updated
New Jersey has released updated corporation business tax guidance regarding reporting and returns for banking corporations. The guidance was updated to add a link to the notice posted on the New Jerse...
New Jersey has released updated corporation business tax guidance regarding reporting and returns for banking corporations. The guidance was updated to add a link to the notice posted on the New Jerse...
NM - Interest rate increases for fourth quarter of 2023
The interest rate charged on an underpayment or paid on an overpayment of New Mexico tax will increase to 8% for the fourth quarter of 2023. The rates can be viewed on the New Mexico Department of Rev...
The interest rate charged on an underpayment or paid on an overpayment of New Mexico tax will increase to 8% for the fourth quarter of 2023. The rates can be viewed on the New Mexico Department of Rev...
NY - Ulster County authorized to impose higher hotel and motel tax; definition of “Hotel” or “Motel” Amended
The authorization of Ulster County, New York, to impose a hotel and motel occupancy tax is increased from 2% to 4% of the per diem (daily) rental rate for each room. In addition, the term "hotel" or "...
The authorization of Ulster County, New York, to impose a hotel and motel occupancy tax is increased from 2% to 4% of the per diem (daily) rental rate for each room. In addition, the term "hotel" or "...
NC - Omnibus local room occupancy tax bill enacted
North Carolina legislation is enacted that: (1) authorizes a number of municipalities to levy a local room occupancy tax; and (2) amends existing occupancy tax provisions.Authority of Municipalities t...
North Carolina legislation is enacted that: (1) authorizes a number of municipalities to levy a local room occupancy tax; and (2) amends existing occupancy tax provisions.Authority of Municipalities t...
ND - 2023 legislative recap issued
North Dakota issued a newsletter summarizing legislation enacted in 2023 affecting the corporate and personal income taxes. Among the topics covered are individual income tax rate reductions, deductio...
North Dakota issued a newsletter summarizing legislation enacted in 2023 affecting the corporate and personal income taxes. Among the topics covered are individual income tax rate reductions, deductio...
OH - W-2 and 1099-R electronic filing threshold updated
Ohio is now requiring all employers and retirement system payers who file employer withholding returns (IT 501) electronically to upload their W-2/1099 information electronically through the Ohio Busi...
Ohio is now requiring all employers and retirement system payers who file employer withholding returns (IT 501) electronically to upload their W-2/1099 information electronically through the Ohio Busi...
OK - Local rate changes announced
Oklahoma local sales and use tax rate changes have been announced effective January 1, 2024.City Rate ChangesChickasha increases its rate from 3.75% to 4.25%.Wewoka increases its rate from 4.0% to 5.2...
Oklahoma local sales and use tax rate changes have been announced effective January 1, 2024.City Rate ChangesChickasha increases its rate from 3.75% to 4.25%.Wewoka increases its rate from 4.0% to 5.2...
OR - Rule on veterans' exemption amended
The Oregon Department of Revenue has amended its rule on the property tax exemption for qualified veterans to conform with recently enacted legislation. After a qualified veteran's death, a surviving ...
The Oregon Department of Revenue has amended its rule on the property tax exemption for qualified veterans to conform with recently enacted legislation. After a qualified veteran's death, a surviving ...
PA - Philadelphia real estate tax credit program
The Philadelphia Department of Revenue reminds taxpayers that the City Council has opened a special fund to help people who own a home in Philadelphia and now have a higher real estate tax bill. If th...
The Philadelphia Department of Revenue reminds taxpayers that the City Council has opened a special fund to help people who own a home in Philadelphia and now have a higher real estate tax bill. If th...
RI - Refund rates increase for 2024, underpayment rates remain
The Rhode Island Department of Revenue, Division of Taxation, has issued an advisory announcing the interest rates that will apply to tax overpayments and underpayments in 2024. The interest rate on o...
The Rhode Island Department of Revenue, Division of Taxation, has issued an advisory announcing the interest rates that will apply to tax overpayments and underpayments in 2024. The interest rate on o...
SC - Due dates falling on weekends and holidays discussed
South Carolina—Multiple Taxes: Due Dates Falling on Weekends and Holidays DiscussedSouth Carolina has issued a Revenue Procedure advising that when the due date for filing a tax return, claim for re...
South Carolina—Multiple Taxes: Due Dates Falling on Weekends and Holidays DiscussedSouth Carolina has issued a Revenue Procedure advising that when the due date for filing a tax return, claim for re...
SD - Guidance for advertising agencies updated
The South Dakota Department of Revenue has updated a tax facts sheet on the application of sales and use tax to advertising agencies. Topics covered in the fact sheet include advertising services; bro...
The South Dakota Department of Revenue has updated a tax facts sheet on the application of sales and use tax to advertising agencies. Topics covered in the fact sheet include advertising services; bro...
TN - Agricultural exemption holders must verify information to renew
The Tennessee Department of Revenue reminds agricultural sales and use tax exemption holders that they must verify their exemption with the department by December 31, 2023, to keep buying certain agri...
The Tennessee Department of Revenue reminds agricultural sales and use tax exemption holders that they must verify their exemption with the department by December 31, 2023, to keep buying certain agri...
TX - Texas historic preservation tax credit rule amended
The Texas Historical Commission has adopted amendments to the rule concerning the Texas Historic Preservation Tax Credit. The amendments make only technical changes to the rule. Specifically, the rule...
The Texas Historical Commission has adopted amendments to the rule concerning the Texas Historic Preservation Tax Credit. The amendments make only technical changes to the rule. Specifically, the rule...
UT - Valuation of taxpayer’s property based on aircraft valuation law upheld
For Utah property tax purposes, the county failed to demonstrate that the application of the Aircraft Valuation Law resulted in valuing the taxpayer’s aircraft below fair market value because it did...
For Utah property tax purposes, the county failed to demonstrate that the application of the Aircraft Valuation Law resulted in valuing the taxpayer’s aircraft below fair market value because it did...
VT - Guidance for assessing officials on property ownership issued
Vermont has issued a publication providing answers to common questions regarding ownership. The publication discusses date of ownership, grand list ownership codes, common types of deeds, common deed-...
Vermont has issued a publication providing answers to common questions regarding ownership. The publication discusses date of ownership, grand list ownership codes, common types of deeds, common deed-...
VA - Food donation credit guidelines updated
Virginia has updated the food donation tax credit guidelines to reflect 2023 legislation that extended and expanded the credit. In addition to providing a general overview of the credit provisions, th...
Virginia has updated the food donation tax credit guidelines to reflect 2023 legislation that extended and expanded the credit. In addition to providing a general overview of the credit provisions, th...
WA - Rental of audio equipment qualified for exemption as artistic and cultural objects
An audio equipment rental company (taxpayer) was entitled to a Washington retail sales tax exemption on the rentals of bare equipment to artistic or cultural organizations because the rental of equipm...
An audio equipment rental company (taxpayer) was entitled to a Washington retail sales tax exemption on the rentals of bare equipment to artistic or cultural organizations because the rental of equipm...
WV - Pension income exemption for federal law enforcement and firefighters discussed
West Virginia updated a personal income tax publication discussing the pension income exemption for retired federal law enforcement and firefighter employees. Federal law enforcement and firefighter r...
West Virginia updated a personal income tax publication discussing the pension income exemption for retired federal law enforcement and firefighter employees. Federal law enforcement and firefighter r...
WI - New motor vehicles guidance issued
The Wisconsin Department of Revenue issued a new fact sheet explaining the state sales and use tax treatment of sales of used motor vehicles, boats, snowmobiles, certain recreational vehicles, trailer...
The Wisconsin Department of Revenue issued a new fact sheet explaining the state sales and use tax treatment of sales of used motor vehicles, boats, snowmobiles, certain recreational vehicles, trailer...
WY - Regulations updated
The Wyoming Department of Revenue has updated certain sales and use tax regulations in order to conform to current law. The amended rules include:Ch. 2 Section 2 (Definitions);Ch. 2 Section 3 (Adminis...
The Wyoming Department of Revenue has updated certain sales and use tax regulations in order to conform to current law. The amended rules include:Ch. 2 Section 2 (Definitions);Ch. 2 Section 3 (Adminis...
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