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Tax Briefing(s)

One Big Beautiful Bill Act (Senate Proposal June 16, 2025)2025 Post-Filing Season Update 2024 Post-Election Tax Policy Update 2019 Year-End Tax Planning

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...

CA - Updated guidance provided on use tax
Updated guidance is provided regarding California use tax. Topics discussed include the application of use tax and the exemption for items purchased in a foreign country. CDTFA Publication 110, Use T...

CO - Federal court interference in state tax collection barred due to adequate remedies
The U.S. Court of Appeals for the Tenth Circuit affirmed the dismissal of a taxpayer's tax refund claim against the Colorado Department of Revenue on the grounds that it was barred by the Tax Injuncti...

CT - 2025-2026 diesel fuel tax rate announced
Effective July 1, 2025, through June 30, 2026, the Connecticut motor vehicle fuels tax rate applicable to the sale or use of diesel fuel is $0.489 per gallon (formerly, $0.524). Announcement 2025(2),...

DE - Budget proposes rate cuts, new brackets, tobacco tax increase
Delaware Gov. Matt Meyer released his budget for fiscal year 2026 that includes proposals to cut personal income taxes and create 3 new tax brackets. The budget also includes a proposal to increase th...

DC - Mayor unveils economic growth agenda
The District of Columbia Mayor has presented an economic growth agenda for 2026 that proposes:no sales tax increase in FY26;reducing the Universal Paid Leave tax from 0.75% to 0.72%; andcreate a sales...

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 ...

GA - Illegally collected taxes ordered to be refunded
The Court of Appeals of Georgia reversed and remanded a case involving property tax, holding that the taxpayer was subject to illegally collected ad valorem taxes by Clayton County and the City of Col...

HI - Tax lien procedures revised
Beginning January 1, 2027, the Hawaii Department of Taxation must:include the assessment date on tax lien certificates; andissue certificates of discharge when the tax liability on which a lien is bas...

MA - Sales tax holiday dates announced for 2025
Massachusetts has designated August 9 and 10, 2025, as the annual sales tax holiday. The sales tax holiday applies to non-business retail sales of property with a price up to $2,500 per item. Some exc...

MN - Data center exemption expanded and new fee imposed
Minnesota has expanded the sales and use tax exemption for purchases of enterprise information technology equipment and software for use in a qualified data center or qualified refurbished data center...

MT - Property tax relief legislation signed
Montana Gov. Greg Gianforte signed property tax relief legislation created by H.B. 231 and S.B. 542. A tiered tax rate is created for residential and commercial class 4 property beginning in tax year ...

NJ - Guidance on taxability of lawyers' purchases updated
New Jersey updated it guidance on the taxability of purchases made by lawyers and law firms in relation to the state's Sales and Use Tax Act. The bulletin was updated to include links to the NJ Tax P...

NY - Amortized premiums on out-of-state bonds treated as itemized deductions
A New York appellate court upheld a Tax Appeals Tribunal decision finding that taxpayers could not subtract amortized premiums on their out-of-state bonds directly from their interest income, but inst...

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...

PA - Taxable and exempt property list updated
Pennsylvania has updated a sales and use notice that lists personal property and services as taxable or nontaxable. The list notes new items, changes and clarifications, along with property subject to...

TX - Solid materials processing activities
The Texas Comptroller has changed the effective date of its policy memorandum stating the Comptroller’s changes in tax policy regarding the application of the manufacturing exemption from sales and ...

VT - Nonhomestead rate and homestead dollar equivalent yields set for fiscal Year 2026
Vermont has enacted a law setting the property and income dollar equivalent yields for homestead property tax rates and the nonhomestead property tax rate for fiscal year 2026. The law sets the proper...

VA - New employer withholding tax tables issued
The Virginia Department of Taxation has released new employer withholding tax tables effective July 1, 2025.What changed?Previously enacted legislation increased the individual income tax standard ded...

WA - Guidance provided on taxability of live presentations for schools
The Washington Department of Revenue has provided guidance on the impact the expansion of retailing business and occupation (B&O) tax and sales tax to live presentations has on elementary and seco...

WY - Order of application of property tax exemptions provided
Wyoming has enacted legislation specifying the order in which a taxpayer should apply property tax exemptions when multiple property tax exemptions apply to the same property. The legislation states t...

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