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.
Ken Berry, Esq., is a nationally-known writer and editor specializing in tax and financial planning matters. During a career of more than 35 years, he has served as managing editor of a publisher of content-based marketing tools and vice president of an online continuing education company in the financial services industry. As a freelance writer, Ken has authored thousands of articles for a wide variety of newsletters, magazines and other periodicals, emphasizing a sense of wit and clarity.
Taxes July 10, 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
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
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 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
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
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
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
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
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
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 is a round-up of recent tax news and Tax Court rulings.
Payroll March 31, 2025
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.