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Tennessee Works Tax Cut

Cherry Bekaert

Tennessee Works Tax Act Tennessee recently enacted the Senate Bill 275/House Bill 323, the Tennessee Works Tax Act , as the single largest tax cut in state history. property, payroll, three times receipts with a denominator of five) that applied to tax years ending before December 31, 2023.

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All of Tennessee Qualifies for IRS Disaster Tax Relief After Severe Storms

CPA Practice

3 to file various individual and business tax returns and make tax payments. As a result of the severe storms, which included tornados and flooding, that began on April 2, taxpayers now have until Nov.

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IRS Extends Tax Deadlines Until May For Helene Victims

CPA Practice

The IRS on Tuesday announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia. 26 in Tennessee. 22, 2024, in Alabama; Sept. 23 in Florida; Sept.

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Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. Tennessee ( Senate Bill 227 ) – for certain state employees only.

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IRS Provides Relief to Taxpayers Impacted by Hurricane Helene

Withum

The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. This includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, 41 counties in Florida, eight counties in Tennessee, and six counties and one city in Virginia. Relief periods vary by state.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

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IRS Pushes Back Tax Filing Deadline For All Arkansas Residents

CPA Practice

The same early April severe storm that caused the IRS to extend the federal tax filing deadline for the entire state of Tennessee on Monday will also give all of Arkansas a Tax Day reprieve.