The final deadline for submitting amended returns and refund claims is Monday, December 2, 2024.

As Congress debates one of the most significant tax packages in years, businesses and individuals are watching closely to see how the proposed tax bill could impact their bottom line.

When divorce is imminent or in progress, there are a few financial preparation steps available to help minimize the cost and headache of sorting out divorce’s financial implications.

Sitting for the CPA exam can be intimidating and stressful, especially if have already accepted a full-time position. Here are some helpful tips to get through this monumental four part test.

Reflections from a 2025 tax season intern.

In a continued response to industry concerns regarding the accessibility of CPA licensure, the Tennessee House of Representatives has passed HB 1330, a widely anticipated update to legislature that adds a new pathway to becoming a certified public accountant in Tennessee.

Tips for first year accountants from a first year accountant.

IRS further postpones various tax deadlines to Sept. 25 for North Carolina storm victims

HHM CPAs, a Chattanooga-based full-service certified public accounting and consulting firm, has completed its renovation of Cleveland’s historic Harle Building and opened its doors for business once again to the Bradley County community.

On March 27, 2025, Mississippi Governor, Tate Reeves, signed new legislation that will phase out the state’s individual income tax over time.

The IRS has extended federal tax relief to all of Tennessee, providing individuals and businesses affected by recent storms with extended filing and payment deadlines until November 3, 2025.

Spring tax deadlines to be aware of.

Adam Osborne honored at the Annual Impact Report & Awards Celebration

Significant enhancements to Form 6765 are on the horizon for taxpayers that claim a research and development (R&D) tax credit. The changes are optional for 2024 and mandatory for 2025. Sections E and G have been revamped to compel more detailed qualitative data directly with the originally filed tax return.

A well-structured Record Retention Schedule helps businesses manage their documents efficiently, outlining how long specific records should be kept before they can be destroyed.

Affected businesses may claim refunds with respect to franchise returns filed on or after January 1, 2021, for fiscal tax years ending March 31, 2020, or later.

Succession will happen, so it’s important to plan accordingly— and well in advance—to achieve the desired outcome and maintain the family wealth enterprise.

Determining whether a controlled or affiliated service group situation exists is a task that some employers might ignore, since it is confusing and complex, in the hope that it never becomes an issue. However, government regulators expect plan sponsors to understand these rules and ensure their plans comply with regulations, so pleading ignorance is not an acceptable excuse to the Department of Labor or the IRS.

Stay ahead in the construction industry with our Winter 2025 Construction Insider.

In celebration of Women’s History Month and the incredible women in leadership roles at HHM CPAs, we are proud to highlight Paula Mashburn, a partner at HHM CPAs in the Pensacola office.

In celebration of Women’s History Month and the incredible women in leadership roles at HHM CPAs, we are proud to highlight Kira Wheat, a partner at HHM CPAs in the Chattanooga office.

In celebration of Women’s History Month and the incredible women in leadership roles at HHM CPAs, we are proud to highlight Erica Smith.

The NIH set a new policy that limits indirect cost recovery to 15% for research grants starting February 7, 2025. This alters the previous variable rates that institutions negotiated between 30% and over 60%. The NIH policy shift intends to increase funding for scientific research while ensuring NIH practices match those used by private foundations such as the Gates Foundation. The change creates substantial obstacles, especially for smaller institutions that depend on these funds to support their operations.

On March 2, 2025, the Treasury Department announced that it would not enforce any fines or penalties against US citizens or reporting companies or their beneficial owners after the rule change. They announced they will also be proposing a scope change that will narrow reporting requirement to only foreign reporting companies.