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Amedeo, Marano & Hufnagel
Certified Public Accountants
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Tax Alerts
Tax Briefing(s)
2026 Post-Filing Season Update2025 Tax Year-in-Review2025 Year-End Tax PlanningOne Big Beautiful Bill Act (Signed Into Law July 4, 2025)Inflation Reduction Act of 2022
IRS Issues Whistleblower Alert to Address Potential Fraud (IR 2026-54)
The IRS has issued a Whistleblower Alert highlighting concerns about the misuse, diversion or fraudulent use of federal funds by tax-exempt organizations, individuals and businesses. The IRS encoura...
Applicable Terminal Charge and SIFL Rates for Determining Value of Noncommercial Flights on Employer-Provided Aircraft Issued (Rev. Rul. 2026-8)
For flights taken during the period from January 1, 2026, through June 30, 2026, the terminal charge is $54.48, and the SIFL rates are: $.2980 per mile for the first 500 miles, $.2272 per mile for 501...
IRS Releases Excludable or Deductible Foreign Housing Expenses for 2026 (Notice 2026-25)
The IRS has provided the foreign housing expense exclusion/deduction amounts for tax year 2026. Generally, a qualified individual whose entire tax year is within the applicable period is limited to ma...
IRS Reports Over 4 Million Children Enrolled in Trump Accounts Pilot Program (IR 2026-42)
The IRS has announced that more than 4 million children were enrolled in tax-favoured Trump Accounts, with over 1 million qualifying for a $1,000 federal contribution under a pilot program. The enrolm...
IRS Expands Business Tax Account Access to Partnerships, Governments and Tax-Exempt Organizations (IR 2026-46)
The IRS expanded access to its Business Tax Account platform to partnerships, government entities and tax-exempt organizations. The expansion improved digital service and reduced administrative burden...
IRS Reports Timely Refund Processing and Increased Electronic Filing (IR 2026-43)
The IRS delivered timely refund processing during the tax year at issue. Most refunds were issued within 21 days, and returns were processed without delay. The IRS reported that a majority of individu...
CA - Nonrecognition of gain from sale of storm-damaged property allowed
Owners of commercial property damaged by a storm were entitled to nonrecognition of gain from the sale of the property, the proceeds of which were used to acquire qualified replacement property. The F...
CT - 2026 revision announced of required forms for tobacco products manufacturers
Tobacco products manufacturers are notified of the annual revision of the required forms that must be completed and filed with either the Connecticut Department of Revenue Services or the Connecticut ...
DE - Film credit, increase in cigarette and tobacco taxes proposed
Delaware Gov. Matt Meyer delivered a presentation for his fiscal year 2027 budget that includes proposals to increase taxes on cigarettes and other tobacco products and to establish a film tax credit....
DC - District AG opinion affirms nonconformity legislation
The District of Columbia Attorney General issued an opinion on personal and corporate income tax liabilities for tax year 2025. The opinion states that House Joint Resolution 142, disapproving of Emer...
MD - Theatrical production credit extended
Maryland's theatrical production credit available against corporate and personal income tax is extended through June 30, 2032. The credit was to expire at the end of 2026. Ch. 18, H.B. 472, Laws 2026,...
NJ - Petroleum products gross receipt rates unchanged
The New Jersey petroleum products gross receipt tax rates are unchanged for the period April 1 through June 30, 2026. The current rates are:gasoline and LPG: 38.6 cents per gallon;diesel: 42.6 cents p...
NY - Audit methodology, penalties and personal liability upheld
The New York Division of Taxation properly resorted to an estimated audit methodology to determine the sales and use tax liability for all of the petitioner automotive towing and repair businesses. Th...
PA - Estimated payment policy clarified
Philadelphia has issued guidance on the business income and receipts tax (BIRT) for tax year 2025. The city clarifies its estimated payment policy following the removal of the $100,000 exclusion, requ...
RI - Division reminds taxpayers that USPS postmark change could affect filing date
The Rhode Island Division ofTaxation reminds taxpayers that United States Postal Service postmarking is now done when mail is processed, not received. Thus, Rhode island taxpayers should ensure that a...

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