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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)
2027 Inflation Adjustments for Health Savings Accounts Released (Rev. Proc. 2026-24)
The IRS has released the 2027 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2027, the annual limitation on deductions under Code Sec. 223(b)(2) for a...
IRS Adds New Trump Account Features to IRS Individual Accounts (IR 2026-68)
The IRS has introduced new online features that allow taxpayers to view and submit Trump Account elections through their IRS Individual Account. The new tools are meant to make the process easier, fa...
IRS and Security Summit Partners Launch New Fraud Prevention Framework (IR 2026-75)
The IRS and its Security Summit partners have announced a new framework to better protect taxpayers from identity theft and tax fraud. The updated approach is designed to improve information sharing a...
IRS Highlights Verified Social Media and e-News Resources for Tax Information
The IRS has encouraged taxpayers to use official IRS social media accounts and e-News services to stay informed and avoid false tax information online. Social media can be a helpful way to get updates...
ETAAC Report Highlights Technology, AI and Taxpayer Service Priorities (IR 2026-77)
The IRS Electronic Tax Administration Advisory Committee released its 2026 annual report with 18 recommendations aimed at improving electronic tax administration and taxpayer service. Six recommendati...
Inflation Adjusted Credit Rate for Carbon Dioxide Sequestration Released (Notice 2026-29)
The IRS has released the inflation adjustment factor for the credit for carbon oxide sequestration under Code Sec. 45Q for 2026. The inflation adjustment factor is 1.4639, and the credit is $29.28 p...
IRS Issues Nonconventional Source Fuel Reference Price for 2025 (Notice 2026-30)
The IRS has published the reference price under Code Sec. 45K(d)(2)(C). The credit period for the nonconventional source production credit under Code Sec. 45K ended on December 31, 2013, for facili...
2026 Marginal Production Percentage Depletion Rates Announced (Notice 2026-35)
The IRS has announced the applicable percentage under Code Sec. 613A to be used in determining percentage depletion for marginal properties for the 2026 calendar year. Code Sec. 613A(c)(6)(C) defi...
AZ - Education savings plan tax provisions and governance updated
Arizona updated its personal income tax provisions related to the AZ529 Education Savings Plan by conforming key definitions to federal law, raising the allowable limit for K–12 tuition withdrawals,...
CA - Collection and filing enforcement cost recovery fees set for 2026-27 fiscal year
For the 2026-27 fiscal year, California personal income tax and corporate tax collection cost recovery fees are set at $362 for an individual, fiduciary, partnership, or limited liability company (LLC...
CO - Process for claiming wholesale exemption without a sales tax license clarified
Colorado issued guidance on how wholesalers without a state-issued sales tax license may claim a sales tax exemption on purchases made in Colorado. Wholesalers without a state-issued sales tax license...
NY - Professor's remote work wages remained New York source income despite pandemic closure
In a personal income tax case involving a professor who worked for a New York law school from his out-of-state home during the COVID-19 pandemic, an appellate court found that it was permissible for t...
UT - Lubricating oil fee increased
The Utah State Tax Commission issued a bulletin on previously enacted legislation that increases the lubricating oil fee from 4 cents per quart (or 16 cents per gallon) to 8 cents per quart (or 32 cen...
WA - Reporting changes for first mortgage interest explained
The Washington Department of Revenue has provided guidance on reporting changes for first mortgage interest for business and occupation (B&O) tax purposes. Beginning July 1, 2026, income from firs...
WY - EV tax guidance issued
Wyoming issued guidance implementing recent legislation making changes to the state's tax on electricity used to power motor vehicles. The legislation changed the tax rate on electricity used to power...

Welcome to Simmons & Company

A Professional CPA Corporation

Simmons & Company is the CPA firm to meet your individual and business tax needs. We deliver a complete client service experience with professional, yet personal attention. Please browse our site to learn more about our company and our services.

"As the CPA behind Simmons & Company, I strongly believe in the value of professional relationships. I view every client relationship like a partnership and I truly believe that my success is a result of your success."

--Marc L. Simmons, CPA

At Simmons & Company, we have developed strong expertise in areas serving:

  • Dental and Medical Practices and their Owners
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  • Real Estate

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