Gary M. Thomas, CPA

Tax Alerts

Tax Briefing(s)

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

IRS Reminds Taxpayers to FIle Tax Returns (FS-2023-2)
The IRS has reminded taxpayers of their tax responsibilities, including if they’re required to file a tax return. Generally, most U.S. citizens and permanent residents who work in the United St...

IRS Offers Checklist of Reminders as Taxpayers Prepare to File 2022 Tax Returns (IR-2023-17)
The IRS has offered a checklist of reminders for taxpayers as they prepare to file their 2022 tax returns. Following are some steps that will make tax preparation smoother for taxpayers in 2023:Gather...

IRS Reminds Taxpayers to Report Digital Asset-Related Income (IR-2023-12)
The IRS has reminded taxpayers that they must report all digital asset-related income when they file their 2022 federal income tax return, as they did for fiscal year 2021. The term "digital assets"�...

IRS Proposes New Service Industry Tip Compliance Agreement (SITCA) Program (Notice 2023-13)
The IRS has issued a guidance which sets forth a proposed revenue procedure that establishes the Service Industry Tip Compliance Agreement (SITCA) program, a voluntary tip reporting program offered to...

LA - Mobile workforce exemption regulations adopted
The Louisiana Department of Revenue adopted regulations implementing the mobile workforce exemption. The Louisiana Legislature previously established this exemption, effective beginning in 2022. The e...

MS - Deductions for gender transition medical expenses disallowed
Mississippi amended its income tax laws to disallow deductions for medical expenses for gender transition procedures otherwise allowed by federal law. H.B. 1125, Laws 2023, effective February 28, 2023...

TX - January 2023 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 January 2023 is $54.70 per barrel for the three-month period beginning on Octobe...