Gary M. Thomas, CPA

Tax Alerts

Tax Briefing(s)

Inflation Reduction Act of 2022, Signed Aug. 16 2022 Post-Filing Season Update SECURE Act 2.0

IRS Encourages Taxpayers to File Soon, IR-2022-137
The IRS has reminded taxpayers still waiting to file their returns to file as soon as possible. Taxpayers can use special tools available on IRS.gov that can help them file. The online tools are avail...

IRS Announces More Options for Taxpayers to Correct and Amend Returns Electronically, IR-2022-130
The IRS has announced that more forms can now be amended electronically. This includes filing corrections to the Form 1040-NR, U.S. Nonresident Alien Income Tax Return, Forms 1040-SS, U.S. Self-Employ...

IRS Issues Directions to Employees for Video Meetings with Taxpayers
The IRS has issued directions for its taxpayer facing employees to hold video meetings with taxpayers and their representatives. Going forward, the IRS will continue to offer video meetings via secure...

IRS Security Summit Warns Tax Professionals Against Identity Theft, IR-2022-135
The IRS, state tax agencies and the tax industry have warned tax professionals of new and ongoing threats involving their systems and taxpayer data. This effort began with the Security Summit's annual...

IRS Encourages Tax Professionals to Inform Clients About IP PIN Opt-In Program, IR-2022-140
The IRS, and the Security Summit Partners have encouraged tax professionals to inform their clients about the IRS Identity Protection (IP) PIN Opt-In Program to help protect taxpayers against tax rela...

IRS Releases Five Year Strategic Plan to Enhance Service to Taxpayers, IR-2022-142
The IRS has released its five-year strategic plan that outlined its goals to improve taxpayer service and tax administration. The plan would serve as a roadmap to meet the changing needs of the taxp...

LA - Motions for summary judgment denied for lack of undisputed evidence
For sales and use tax purposes, the Louisiana Board of Tax Appeals (BTA) denied an oil and gas drilling equipment manufacturer’s (taxpayer’s) motion for partial summary judgment and the sales tax ...

MS - Rural economic development credit extended
The sunset date for the Mississippi rural economic development credit that may be claimed against corporate and personal income taxes is extended to October 1, 2025. The credit was previously schedule...

TX - May 2022 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 May 2022 is $69.22 per barrel for the three-month period beginning on February 1...