Gary M. Thomas, CPA

Tax Alerts

Tax Briefing(s)

2022 Post-Filing Season Update SECURE Act 2.0 2021 Tax Year-In-Review

IRS Increases Optional Standard Mileage Rate For Remainder of 2022, Announcement 2022-13
The IRS has announced an increase in the optional standard mileage rate for the final 6 months of 2022. Optional standard mileage rates are used by employees, self- employed individuals, and other tax...

Online Refund Tool Update Allows Tracking of Previous Two Years' Refunds, IR-2022-109
The IRS has updated the "Where's My Refund?" online tool and introduced a new feature that allows taxpayers to check the status of their current tax year and two previous years’ refunds. Taxpayers...

IRS Expands Voice Bot Options for Faster Service, IR-2022-127
The IRS has expanded voice bot options to help eligible taxpayers easily verify their identity to set up or modify a payment plan while reducing wait times. The IRS has been using voice bots on many t...

IRS Announces New 90-Day Pre-Examination Compliance Pilot
The IRS Employee Plans function is piloting a pre-examination retirement plan compliance program beginning in June 2022. This program will notify a plan sponsor by letter that their retirement plan wa...

IRS Releases Third Quarter Guidance Update, 2021-2022 Priority Guidance Plan Third Quarter Update
The Treasury and IRS have released their third quarter update to the 2021-2022 Priority Guidance Plan. The 2021-2022 Priority Guidance Plan contained 193 guidance projects, 13 of which had been comple...

Treasury Updates Guidance on SLFRF Program
The Department of the Treasury has updated its compliance and reporting guidance and the Recovery Plan Performance Report template for the Coronavirus State and Local Fiscal Recovery Funds program tha...

LA - Interest rate on unpaid taxes remains unchanged
The interest rate on unpaid Louisiana taxes remains 6.5% for 2022. Revenue Information Bulletin No. 22-001, Louisiana Department of Revenue, December 29, 2021...

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 - Audiovisual service provider was properly denied franchise tax refund
An audiovisual equipment and service provider was properly denied Texas franchise tax refund as the taxpayer's payments made to hotels that are corporations were not required to be included on Form 10...