Taxes July 10, 2025
The Tax Blotter – OBBBA – July 2025
The new tax law—known as the “One Big Beautiful Bill Act” (OBBBA)—generally extends the current rules for mortgage interest deductions, with certain modifications.
Taxes June 17, 2025
Tax Court Refuses Moving Expense Deduction for Military Contractor
Despite changes from the Tax Cuts and Jobs Act (TCJA), military personnel may still claim a deduction for job-related moving expenses. But simply working for the armed forces doesn’t command a deduction.
Taxes June 10, 2025
Don’t Pass Up Form 8300 Filing Requirements
A company that sells automobiles through an auction house claimed a software glitch outside of its control led to the non-filing of Form 8300. Did the Tax Court give the company a pass?
Taxes June 5, 2025
The Tax Blotter – June 2025
The IRS just released its annual “Data Book” providing vital information about the agency’s activities for its 2024 fiscal year (FY2024) spanning October 1, 2023, through September 30, 2024 .
Taxes May 16, 2025
Tax Court Delivers Bad News to Tardy Taxpayer
In a new case, an office mix-up authorizing the wrong FedEx service resulted in a missed tax deadline. The Tax Court addressed whether the “equitable tolling” doctrine grants the taxpayer a reprieve.
Taxes May 14, 2025
Leave Charitable Property Gift Appraisals to the Pros
Generally, you can deduct the fair market value (FMV) of appreciated property donated to charity if you’ve owned the property longer than a year.
Taxes May 14, 2025
Mixed Tax Results for Taxpayer on Legal Settlement
Although damages paid due to physical injuries are tax-exempt, other payments for non-physical injuries are generally subject to tax. In this case, a man who claimed he was injured while he was incarcerated walked away with a split decision.
Taxes May 7, 2025
The Tax Blotter – May 2025
Along with casualty losses, deductions for personal theft losses remain suspended at least through the end of the year, although there are certain exceptions.
Taxes April 28, 2025
Taxpayer Fails Test on Frivolous Tax Claim
Tax Court judges are notoriously a no-nonsense bunch. They consistently deny claims by taxpayers that are considered to be “frivolous” in nature.
Taxes April 16, 2025
How to Navigate Depreciation Deductions for Business Property
Generally, you can claim depreciation-related tax breaks for qualified business property that is “placed in service” during the year. But in a new case involving a yacht chartering operation, the Tax Court acknowledged that these can be tricky tax waters.
Taxes April 4, 2025
The Tax Blotter – April 2025
The Tax Blotter is a round-up of recent tax news and Tax Court rulings.
Payroll March 31, 2025
Taxpayer Absorbs Full Tax Weight on Hardship Distribution
If a taxpayer is in dire need, the taxpayer may choose to take a “hardship distribution” from a qualified retirement plan. However, as shown in a new case, Campana, TC Memo 2025-23, 3/19/25, this doesn’t absolve any tax liability.
Contributors
Amy Vetter
CPA, CITP, CGMA
Becky Livingston
Accounting & AI Marketing Consultant
Brian Tankersley
CPA, CITP, CGMA
Garrett Wagner
CPA, CITP, CEO and Founder of C3 Evolution Group
Jim Boomer
CPA, CITP, CEO
Ken Berry, JD
CPA Practice Advisor Tax Correspondent
Kristy Short, Ed.D.
Accounting Content Specialist
Mary Girsch-Bock
Contributing Writer
Randy Johnston
MCS, MCP
Roman Kepczyk
CPA, CITP, CGMA
