Taxes December 19, 2025
2025-2026 Tax Season Guide to OBBBA Tax Law Changes – SPECIAL SERIES
This series of articles spotlights key tax issues and changes made to tax law in 2025 and the years to come as a result of the OBBBA.
Taxes December 19, 2025
2025-2026 Tax Season Guide to OBBBA Tax Law Changes – SPECIAL SERIES
This series of articles spotlights key tax issues and changes made to tax law in 2025 and the years to come as a result of the OBBBA.
Taxes December 18, 2025
IRS Confirms $2K Slot Jackpot Threshold Set to Begin in 2026
The confirmation follows Monday’s posting of a draft IRS Form W-2G, reflecting changes mandated by the OBBBA, which amended federal information-reporting requirements for certain payments, including casino gambling winnings.
Taxes December 18, 2025
Trump Signs Order to Expand Access to Marijuana, Lower Taxes on Cannabis Businesses
Among the most immediate impacts of rescheduling marijuana as a Schedule III drug would be relief from IRS Code 280E, which prevents businesses that handle Schedule I or II substances from deducting routine expenses such as rent, payroll and equipment.
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AICPA December 18, 2025
AICPA Applauds Passage of Disaster Legislation to Extend Lookback Period
The act offers taxpayers impacted by disasters more opportunities to meet their tax obligations without additional confusion, stress, and anxiety.
Taxes December 18, 2025
AICPA Urges Treasury, IRS to Establish Lower User Fee Category for Private Letter Ruling Requests
The AICPA’s letter echoes concerns also raised in a 2016 AICPA comment letter recommending reduced user fees for these types of requests.
Taxes December 17, 2025
Trump Announces $1,776 ‘Warrior Dividend’ Bonuses for Active Military and Some Reserves
The "Warrior Dividend" President Donald Trump announced Dec. 17 is $1,776 and will be sent to service members before Christmas.
Taxes December 17, 2025
Here’s Why Americans Could See a $1,000 Increase in Tax Refunds Next Year
Recent tax legislation imposed by President Donald Trump and enacted by the One Big Beautiful Bill Act is at the heart of the increase, the White House said.
Taxes December 17, 2025
4 House Republicans Defied GOP Leadership to Force Action on ACA Tax Credits
In a major blow to House Speaker Mike Johnson, four Republicans—Reps. Brian Fitzpatrick (Pa.), Mike Lawler (N.Y.), Robert Bresnahan (Pa.) and Ryan Mackenzie (Pa.)—signed Minority Leader Hakeem Jeffries' (D-N.Y.) discharge petition to force a House vote on a bill extending Affordable Care Act subsidies.
Taxes December 17, 2025
Rep. Lawler Calls BS on Speaker Johnson for Blocking Vote to Extend ACA Tax Credits
Speaker Mike Johnson told a closed-doors Republican meeting that he won’t allow a vote on a plan to save the Obamacare subsidies pushed by Rep. Mike Lawler (R-NY) and a handful of endangered moderates from swing districts.
Taxes December 17, 2025
Sen. Ossoff Teams Up with Trump Ally on Small Business Tax Legislation Ahead of Midterms
Sen. Jon Ossoff (D-GA) has teamed up with Republican Sen. Cindy Hyde-Smith of Mississippi on legislation to cut income taxes for qualifying small businesses with up to 15 employees.
Taxes December 17, 2025
New Yorkers Support Boosting Taxes on the Wealthy to Pay for Free Child Care, Poll Shows
An obstacle to New York City Mayor-elect Zohran Mamdani’s plan to expand free child care is its reliance on lawmakers in Albany and tax revenue from wealthy New Yorkers, though a new survey indicated broad support for that approach.
Taxes December 17, 2025
Citadel Leaves Chicago Tower as City Alarmed by ‘Job Killer’ Tax
The Chicago City Council opposes the so-called head tax, which the city's former mayor, Rahm Emanuel, once called a “job killer.”