Taxes July 14, 2026
AICPA Expresses Support for Bill to End Tax Penalties on American Hostages
The bill would provide tax relief to Americans and their families if they are unlawfully detained or held hostage abroad.
Taxes January 31, 2025
Bipartisan Senate Duo Wants to Tax More Companies Out of Russia
Senate Finance Committee members Catherine Cortez Masto (D-Nev.) and John Cornyn (R-Texas) introduced legislation Thursday to stop companies from deducting or claiming credits on their U.S. tax bills for taxes paid to Russia.
IRS January 30, 2025
Taxpayer Advocate, AICPA Back Bipartisan Draft Bill to Improve IRS Administration
A discussion draft, released Thursday by Sens. Mike Crapo (R-ID) and Ron Wyden (D-OR), that proposes several ways to fix IRS procedures and administration has strong support from National Taxpayer Advocate Erin Collins and the AICPA.
Taxes January 22, 2025
New Ohio Senator Introduces Bill to Fund Trump’s External Revenue Service
Sen. Bernie Moreno, a newly elected Ohio Republican, introduced his first piece of legislation on Tuesday—a bill aimed at funding the External Revenue Service that President Donald Trump has promised to create.
Taxes January 21, 2025
Now That Trump is Back in Office, Here’s What to Expect for Your Taxes in 2025 and Beyond
With President Donald Trump back in the White House for a second term, Americans can expect to see major tax law changes in the years ahead.
Taxes January 17, 2025
Treasury Nominee Warns of ‘Devastating’ Consequences if Tax Cuts Lapse
Taxes and tariffs took center stage Thursday at a hearing for President-elect Donald Trump's intended Treasury secretary nominee Scott Bessent.
Taxes January 17, 2025
Sens. Rosen, Cruz Re-Introduce Bipartisan ‘No Tax on Tips’ Bill
During the election cycle, President-elect Donald Trump campaigned on the promise to eliminate taxes on tips—a policy he first introduced during a rally in Las Vegas.
Taxes January 17, 2025
Reconciliation Debate to Test ‘Tax Cuts for the Rich’ Narrative
Washington is poised once again to return to united Republican control, and the GOP is preparing to extend the Tax Cuts and Jobs Act paired with deep cuts to federal programs that lower-income households rely on, such as Medicaid.
Small Business January 16, 2025
Bipartisan Policy Center Offers Legislative Options for Small Business Growth
A new report from Goldman Sachs 10,000 Small Businesses Voices and the Bipartisan Policy Center offers an actionable playbook to help grow the U.S. economy by tackling the most pressing challenges faced by our nation’s small businesses.
Taxes January 16, 2025
What’s at Stake as House GOP, Dems Debate Extending Trump Tax Cuts
There's less than a week before President-elect Donald Trump begins his second term, and congressional Republicans are already working to preserve one of his signature policies.
Taxes January 15, 2025
IRS and Treasury Department Float New Rules for Qualified Commercial Clean Vehicle Tax Credit
Under Section 45W of the tax code, the credit may be claimed by purchasing and placing in service qualified commercial clean vehicles, including certain battery electric vehicles, plug-in hybrid EVs, fuel cell EVs, and plug-in hybrid fuel cell EVs.
Taxes January 15, 2025
IRS, Treasury Lay Out Guidance on Clean Fuels Production Credit
Section 45Z of the tax code provides a tax credit for the production of transportation fuels with lifecycle greenhouse gas emissions below certain levels. The credit is in effect in 2025 and is for sustainable aviation fuel and non-SAF transportation fuels.
Taxes January 14, 2025
IRS and Treasury Department Propose Regs on New Roth Catch-Up Rule, 401(k) Auto Enrollment
The proposed regulations address several SECURE 2.0 Act provisions, including ones aimed at the new Roth IRA catch-up rule and the new automatic enrollment requirement for 401(k) and 403(b) plans.