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 14, 2025
IRS, Treasury Publish Final Rules for Low-Income Communities Bonus Credit
The Section 48E(h) program expands the 48(e) bonus credit and promotes cost-saving clean energy investments in low-income communities, on Indian land, or as part of affordable housing developments and aims to benefit low-income households.
Taxes January 13, 2025
SALT Deduction Cap Talks with Trump ‘Positive,’ Lawmakers Say
The main focus of the face-to-face meeting was the $10,000 cap on the so-called SALT deduction that was a signature feature of Trump’s 2017 tax cut bill, set to expire for tax years after 2025. The group wants to see the cap raised or even eliminated.
Taxes January 8, 2025
Taxpayer Advocate: IRS Has Improved Taxpayer Services, But Delays in ERC Claims and Identity Theft Assistance Still a Concern
In her latest annual report to Congress, National Taxpayer Advocate Erin Collins praised the IRS for a much-improved taxpayer experience but also highlighted several ongoing challenges at the tax agency.
Taxes January 8, 2025
Mid-Market CEOs Worried About Financial Impact of Trump’s Tariffs, Survey Finds
However, optimism about the business environment is rising among middle-market CEOs, with tax policies getting a mixed reaction, according to the latest survey from top 15 accounting firm CBIZ and Hofstra University.
Taxes January 8, 2025
Opinion: The Case for Killing the Tax Credit for Electric Vehicles
It's ineffective at shaping behavior, and it primarily benefits the wealthy while needlessly adding to the deficit. EVs aren't even good at curbing climate change, and the credit could be stifling better alternatives.
Taxes January 7, 2025
Trump Keeps World Guessing Over How He Intends to Impose Tariffs
In the past 24 hours, President-elect Donald Trump has said that Congress will use revenue from tariffs to help pay for extending his 2017 tax cuts in a “powerful” bill that would eliminate taxes on tips.
Taxes January 7, 2025
Here’s What Comes Next for California Fire Victims Who Won Federal Tax Relief
Tens of thousands of Northern California fire victims stand to recover millions of dollars in reimbursements for federal taxes paid on wildfire settlements now that the Federal Disaster Tax Relief Act finally passed Congress last month and was signed by President Joe Biden on Dec. 12.
Taxes January 2, 2025
Will the Limits on SALT Deductions Finally be Ended in 2025? Trump Says Yes
Finally, the long-sought lifting of the cap on state and local tax deductions seems to have the support it needs in Congress. Perhaps most important, President-elect Donald Trump backs the idea.
Accounting December 24, 2024
State CPA Society News and Updates – Dec. 2024
State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories.
Taxes December 16, 2024
Understanding Trump’s Push to Lock in the TCJA
Whether the provisions in the Tax Cuts and Jobs Act are extended, modified, or left to expire, the decisions made in the coming years will shape the tax landscape for a generation.
Taxes December 16, 2024
Trump Tax Cuts May Fail to Drive Much, if Any, Economic Gain, Analysis Says
While measures up for renewal that largely benefit individuals and households are an easy sell to voters, economists caution on the scale of economic dividend they generate. The bigger spur for investment, they say, would be cuts for corporations.
Taxes December 12, 2024
IRS Recoups $4.7 Billion as Part of Latest Enforcement Initiatives
The update given by the IRS on Dec. 12 comes as the threat of additional budget cuts from Republicans and a potential new leader of the agency loom once Donald Trump takes office next month and both chambers of Congress are controlled by the GOP.