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 November 24, 2025
New Jersey Gov.-Elect Sherrill Suggests State Could Stop Paying Federal Taxes in Swipe at Trump
While speaking with comedian Jon Stewart earlier this week, Mikie Sherrill called the prospect of the state withholding federal tax dollars a “good idea,” adding, “I think about that all the time.”
Taxes November 24, 2025
AICPA Makes Recommendations to IRS and Treasury on ‘All or Nothing’ Approach to Dual Consolidated Loss
The AICPA is asking Treasury and the IRS to allow an exception for these permanently disallowed amounts so companies aren’t penalized unnecessarily.
Taxes November 23, 2025
If Georgia Eliminates the Income Tax, There Are Costly Tradeoffs to Consider
With this complex issue, the state needs to proceed with caution and learn from what happens in states without an income tax, a professor of economics says.
Taxes November 21, 2025
IRS Issues Guidance for Workers Who Received Tips or Overtime in Tax Year 2025
The Treasury Department and the IRS issued guidance on Nov. 21 for employees who are eligible to claim the deduction for tips and for overtime compensation under the One Big Beautiful Bill Act for the 2025 tax year.
Taxes November 21, 2025
IRS Provides Tax Break to Lenders on Rural and Agricultural Real Estate Loans
The Treasury Department and the IRS released interim guidance Nov. 20 on a new tax benefit for certain lenders, such as FDIC-insured banks, that provide loans secured by rural or agricultural real estate.
Taxes November 21, 2025
IRS Scam: FTC Sues Tax Debt Relief Company, Claims It Was ‘Pocketing Millions’ and Threatening Taxpayers
The Federal Trade Commission recently filed a joint lawsuit with the state of Nevada against American Tax Service as well as its owners and seven affiliated parties for making false claims that they could help taxpayers with their debts.
Accounting November 21, 2025
Connecticut Accountant Admits to Evading More Than $400,000 in Taxes
Edward Sodlosky, 71, of Middlebury, CT, failed to report almost $1.4 million in additional income, resulting in a tax loss to the government of more than $400,000, authorities said.
Accounting November 21, 2025
Colorado Springs Accountant Gets 30-Month Jail Sentence for $8 Million Tax Fraud
Rodney Ermel, 71, was sentenced in October for tax evasion and conspiracy to defraud the U.S. and ordered to pay $8,087,385 in restitution to the IRS.
Taxes November 21, 2025
N.J. Tax Preparer Convicted in COVID Tax Scheme That Stole $55M
A jury convicted Leon Haynes of 15 counts of aiding and assisting in the preparation and presentation of false tax returns, one count of mail fraud and two counts of tax evasion following a six-day trial.
IRS November 20, 2025
AICPA Says IRS Plan to Combine OPR and RPO Would Create Potential Conflicts of Interest, Confuse Taxpayers
A possible merger of the IRS's Office of Professional Responsibility with the Return Preparer Office would bring negative consequences to the nation's tax system, the AICPA wrote in a letter to the agency last week.
Taxes November 20, 2025
Trump’s Library Foundation Got Special Treatment From the IRS During the Government Shutdown
The Donald J. Trump Presidential Library Foundation filed its request for tax-exempt status to the IRS on Oct. 10 and got an approval letter just 10 days later, according to tax records.
Taxes November 20, 2025
U.S. Chamber Official: Trump Tariffs Amount to $600 Billion Tax Increase
During a Nov. 19 event in Mobile, AL, U.S. Chamber of Commerce's Tom Wickham said the president's tariff policy amounts to a potential $600 billion “tax increase annually,” including about $202 billion on small businesses.