Income Tax July 22, 2026
Seven Form 990 Red Flags CPAs Should Not Ignore
A difference in wording is not necessarily a problem. Yet at the same time, a material change in purpose or activity may be.
Taxes September 2, 2025
A Raw Deal for Gambling Loss Deductions (OBBBA)
Under the OBBBA, only 90% of gambling losses will be deductible, beginning in 2026. The other 10% is gone forever. What’s more, the overall limit on gambling losses up to the amount of gambling winnings remains in place.
Taxes September 2, 2025
IRS Didn’t Accurately Report Wait Times for Taxpayers Calling for Help, TIGTA Says
The IRS claimed the average wait time for a taxpayer when calling the agency for assistance was three minutes during the 2024 filing season, but that's not exactly correct, the Treasury Inspector General for Tax Administration said in a recent report.
Taxes September 2, 2025
Tariffs’ Nothingburger Impact on Public Budgets
No matter where they end up, import taxes aren’t likely to drive inflation enough to have much effect on state or local tax revenues.
Taxes September 2, 2025
What the End of the De Minimis Tax Exemption Means for Online Shoppers
For nearly nine decades, an import tax exception allowed low-value packages to enter the U.S. without duties attached. But that all changes Aug. 29 when the rule known as de minimis is suspended.
Small Business September 2, 2025
U.S. Trading Partners ‘Dazed and Confused’ After Tariff Court Loss
The legal fight over President Donald Trump’s global tariffs is deepening after a federal appeals court ruled the levies were issued illegally under an emergency law, extending the chaos in global trade.
Small Business August 29, 2025
Tariffs Are a Buzzkill for the Coffee Biz
The latest levies have sent importers scrambling and are likely to raise prices for America’s millions of coffee drinkers.
Taxes August 28, 2025
Zuckerberg Pressed Trump on Digital Taxes Before Tariff Vow
President Donald Trump threatened to inflict “substantial” tariffs on countries that impose digital taxes just days after Meta Platforms Inc. CEO Mark Zuckerberg raised concerns about the levies during a White House meeting.
OBBBA Tax Act August 28, 2025
Business Interest Limits: Take Advantage of the Expanded Rules
The One Big Beautiful Bill Act greatly expands business interest deduction limits, which is a boon to capital-intensive businesses with significant interest expense — potentially reducing their federal corporate tax liability and enhancing financial flexibility.
Special Section: Guide to 2025 Tax Changes August 27, 2025
Secure the Best Deductions for Mortgage Interest Payments Under the New Tax Law (OBBBA)
The new “One Big Beautiful Bill Act” (OBBBA) extends some mortgage interest deduction cutbacks permanently, but it extends an olive branch to taxpayers.
Taxes August 27, 2025
IRS Aims to Withdraw Disregarded Payment Loss Rules
The Treasury Department and the IRS said Aug. 20 that they intend to issue proposed regulations withdrawing the DPL rules and related modifications to the dual consolidated loss rules that were finalized toward the end of the Biden administration.
Taxes August 27, 2025
Texas Man Pleads Guilty to Concealing $2.8M in Income from Taxes
Jason Smith of Kerrville, TX faces a maximum penalty of three years in prison for each count of filing a false tax return, as well as a period of supervised release, restitution, and monetary penalties.
Taxes August 27, 2025
H&R Block Sent Workers Home to Celebrate Taylor Swift and Travis Kelce Engagement
In an email to employees, H&R Block Chief People Officer Tiffany Monroe congratulated Swift and Kelce and also H&R Block staff "for being part of the only company that understands that life changes = tax changes."