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Tax Briefing(s)

Budget Reconciliation Bill (Released by House May 12, 2025)2025 Post-Filing Season Update 2024 Post-Election Tax Policy Update

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...

CT - Tobacco products manufacturers notified of annual revision of required forms
Connecticut notifies tobacco products manufacturers of the annual revision of required forms that must be completed and filed with either the Connecticut Department of Revenue Services or the Office o...

FL - 2025-2026 gas and sulfur production tax rates announced
Effective July 1, 2025, through June 30, 2026, the Florida severance tax rates for gas and sulfur are: $0.171 per MCF for gas production; and $6.38 per ton for sulfur production. These rates must be u...

GA - Local rate changes announced for Q3
Multiple Georgia counties have sales and use tax rate change that take effect on July 1, 2025.County Tax Rate ChangesThe following counties will have tax rate changes:Clinch, 7%;Stewart, 8%;Telfair, 8...

MD - Personal income tax abatement expanded to uniformed service members, public health emergency responders
Applicable to tax years after 2024, Maryland personal income tax is abated for those who die while serving as members of the uniformed services (formerly, members of the armed forces). In addition, pe...

NC: Interest rate remains at 7% for second half of 2025
The interest rate on North Carolina tax assessments (underpayments) and refunds (overpayments) for the period July 1, 2025, through December 31, 2025, remains at 7%. Interest Rate, North Carolina Dep...

OH - Lake County increases tax rate
Ohio has announced a change in the sales and use tax rate for Lake County that will be effective July 1, 2025. The rate will increase from the current 7.0% to 7.25%. Tax Rates and Changes, Ohio Depar...

VA - Enacted budget provides rebate checks, increases standard deduction, extends elective PTET tax, extends and amends credits, and makes other changes
Virginia enacted biennial budget legislation containing various corporate income, personal income, retail sales and use, and other tax provisions.Rebate ChecksTax refund checks will be issued in an am...

WV - - Property tax credit extended to widowed spouses of disabled veterans
West Virginia expanded an income tax credit for property tax paid by disabled veterans to include widowed spouses of disabled veterans. H.B. 2121, Laws 2025, effective July 11, 2025...

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