Gary M. Thomas, CPA

Tax Alerts

Tax Briefing(s)

2023 Year-end Tax Planning Consolidated Appropriations Act, 2023 Inflation Reduction Act of 2022, Signed Aug. 16

IRS Urges Taxpayers to Review Withholding, IR-2023-205
The IRS has urged taxpayers to promptly review their tax withholding to avoid surprises, whether in the form of significant refunds or balances due when filing taxes next year. The IRS has p...

Low and Moderate Income Taxpayers Can Save More through Saver’s Credit in 2024, IR-2023-222
The IRS has reminded low and moderate income taxpayers that they can save more for their retirement now through Saver's Credit. This credit is available to taxpayers who are 18 years or old...

IRS Reminds IRA Owners of Tax-Free Charitable Transfer Option, IR-2023-215
The IRS has reminded individual retirement arrangement (IRA) owners, aged 70Â½ or older, of tax-free charitable transfers permitting senior citizens to contribute up to $100,000 annually to...

Energy Credit Online Tool Now Available to Sellers, IR-2023-202
The IRS has announced that enrollment to the IRS Energy Credit Online tool is now open to the sellers of clean vehicles. The Energy Credits tool is available free of cost and will enable�...

IRS Offers Cybersecurity Tips, IR-2023-200
The IRS and Security Summit partners reminded taxpayers to remain vigilant against potential cybersecurity threats. As the National Cybersecurity Awareness Month is wrapped up, taxpayers were encour...

IRS Cautions Against Charity Scams Amid Global Crisis, IR-2023-196
The IRS has issued a warning to taxpayers, advising them to be cautious of fraudulent solicitors who pretend to represent genuine charities. These deceptive charities divert donations away from t...

LA - Fortify homes program guidance
The Louisiana Department of Revenue has issued guidance regarding the availability of the Construction Code Voluntary Retrofitting Deduction against personal income tax to taxpayers who also receive a...

MS - Charitable contribution credits
The Mississippi Department of Revenue issued a notice announcing that applications for Mississippi's charitable contribution credits against personal and business income tax will only be accepted thro...

TX - Texas historic preservation tax credit rule amended
The Texas Historical Commission has adopted amendments to the rule concerning the Texas Historic Preservation Tax Credit. The amendments make only technical changes to the rule. Specifically, the rule...