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Tax Briefing(s)

2024 Year-End Tax Planning 2024 Post-Election Tax Policy Update 2024 Post-Filing Season Update

IRS Urges Taxpayers to Enroll for IP PIN Ahead of 2025 Filing Season, IR-2024-278
The IRS has encouraged taxpayers to register for an Identity Protection Personal Identification Number (IP PIN) to strengthen their defenses against tax-related identity theft. With the 2025 tax sea...

IRS Accelerates Work on Employee Retention Credit Claims, IR-2024-263
The IRS has made significant progress on Employee Retention Credit (ERC) claims, with processing underway on about 400,000 claims, worth approximately $10 billion. The IRS is separating eligible claim...

IRS Warns Taxpayers About Scams by Offer in Compromise Mills, IR-2024-243
The IRS has issued a warning to taxpayers to be cautious of unscrupulous promoters claiming to offer help in resolving unpaid taxes through the IRS Offer in Compromise (OIC) program. These fraudulent ...

IRS Appeals Secure Messaging Program Office Launches Corporate Group Mailbox Pilot, IR-2024-247
The IRS Independent Office of Appeals (Appeals) today launched a pilot program as part of the IRS’ ongoing transformation efforts to expand online tools and improve user experiences. From September ...

IRS Warns of Charity Scams Following Hurricanes Milton and Helene, IR-2024-269
The IRS has offered some tips to taxpayers about scammers using fake charities to exploit unsuspecting donors in the aftermath of Hurricanes Milton and Helene. Donors can use the Tax-Exempt Organizat...

IRS Provides Safe Harbor for Amounts Paid for Condoms, Notice 2024-71
The IRS has provided a safe harbor under Code Sec. 213(d) for amounts paid for condoms. Because amounts paid for condoms are treated as expenses for medical care, these amounts are deductible if the...

AZ - Property tax refund for non-enforcement of public nuisance laws measure approved by the voters
Arizona voters approved Proposition 312, which allows property owners to apply for a property tax refund when a city or locality fails to enforce public safety regulations. The property owner must sub...

CA - FTB not prohibited from collecting tax without notice of proposed assessment
The California Franchise Tax Board (FTB) was not prohibited from collecting additional personal income tax based on the taxpayers' amended returns without issuing a notice of proposed assessment (NPA)...

CO - Voters approve expansion of exemption for veterans with a disability
Colorado voters at the November 5, 2024 general election approved a constitutional amendment to expand eligibility for the property tax exemption for veterans with a disability to include veterans who...

IA - 2025 individual income tax rate announced
The Iowa Department of Revenue announced the 2025 tax year individual income tax rate. Since the enactment of Iowa S.F. 2442 in May, 2024, Iowa law provides for a flat tax rate of 3.8 percent for all ...

KS - Local rate information updated
Kansas posted local sales and use rate updates for:the cities of Altoona, Derby, and Strong City;Kearny, Logan, and Rawlins counties; andthe new community improvement districts of Andover Red Bud Trai...

MO - Voters approve constitutional amendment to legalize, regulate, and tax sports wagering
According to unofficial election results, Missouri voters approved a constitutional amendment that does the following:allows the Missouri Gaming Commission to regulate licensed sports wagering includi...

NM - Extensions available for flood-affected taxpayers
New Mexico's Taxation and Revenue Department has announced that it will grant filing extensions to taxpayers in Chaves County who have been affected by recent flooding. Taxpayers who live in or own bu...

NY - Issuance of notice and demand was improper
In a New York case involving a petitioner whose husband pleaded guilty following a criminal tax indictment, it was improper for the Department of Taxation and Finance to issue a notice and demand to t...

OK - Local tax rate changes announced
Oklahoma local sales and use tax rate changes have been announced effective January 1, 2025.Alva increases its lodging rate from 5% to 8%.Coyle imposes a new use tax at a rate of 3%.Pond Creek decreas...

TN - Taxpayer's purchase of streetlights and related equipment on behalf of public utility was exempt
A taxpayer’s purchase and installation of streetlights, photocells, smart nodes, and poles on behalf of public power authorities was not subject to Tennessee sales and use tax.Component Part of Elec...

TX - September 2024 certification of the average closing price of gas and oil released
The Texas Comptroller of Public Accounts has determined the average taxable price of crude oil for the reporting period September 2024 is $48.45 per barrel for the three-month period beginning on June...

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Our principal jurisdiction of licensure is in the state of Oklahoma. We are also licensed to practice in Texas, Missouri, New Mexico, Tennessee and Kansas. Our firm address is 6408 North Santa Fe Avenue, Suite B, Oklahoma City, OK 73116-9101.