Taxes February 6, 2026
IRS Issues Proposed Rules on Clean Fuel Tax Credit
The Treasury Department and the IRS released proposed regulations Feb. 3 on the clean fuel production credit under the One Big Beautiful Bill Act.
Small Business February 6, 2025
Essential 2025 Sales Tax Law Changes
The report covers sales tax changes specifically affecting the manufacturing, retail, and software industries. It also addresses beverage alcohol, communications, excise, lodging, and VAT changes.
IRS February 6, 2025
IRS Employees Who Planned to Take Trump’s Offer to Leave Now Told They Must Stay Through Tax Season
The IRS has notified workers essential to tax season that they must work until May even if they accepted the Trump administration's federal employee buyout offer, the deadline of which was put on hold temporarily by a federal judge on Feb. 6.
State and Local Taxes February 6, 2025
Trump Considers Ending Carried Interest, Expanding SALT Deduction
President Donald Trump outlined his tax priorities in a meeting with Republican lawmakers, including a call to end the carried interest tax break used by private equity fund managers and expand the state and local tax deduction.
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Taxes February 6, 2025
AICPA Requests Changes to Tax Forms to Show Disaster-Impacted Returns
The American Institute of CPAs requested that the IRS incorporate a checkbox and Federal Emergency Management Agency (FEMA) disaster number space into various tax returns.
Taxes February 6, 2025
Cap on State and Local Tax Deductions Resulted in Higher Taxes, Says Survey of CPAs
The survey was created to gauge the impact of the $10,000 cap on SALT deductions imposed by the Tax Cuts and Jobs Act (TCJA) in 2017. The cap is due to expire this year.
Taxes February 5, 2025
So, You Received a 1099-K. Now What?
The IRS initially planned to lower the reporting threshold to $600, but implementation has been delayed. For the 2024 tax year, the threshold is $5,000, though reductions are expected in 2025 and 2026.
Taxes February 4, 2025
Thousands of 1099-G Tax Forms Sent to Incorrect Addresses in Maryland
A printing malfunction caused about 6,000 1099-G forms to end up at the wrong addresses, a notice posted Feb. 4 by the Maryland comptroller’s office warned.
Taxes February 4, 2025
IRS Says No Tax Deduction for IVF Expenses of Surrogate
In a new private letter ruling, the IRS said that in vitro fertilization (IVF) expenses for a surrogate on behalf of a married couple are not deductible by the couple as a medical expense under the tax code.
Taxes February 4, 2025
Survey: One in Five Americans Would Rather Renew Driver’s License at a DMV Than Work on Their Taxes
A new survey from Invoice Home sought to uncover the current state of consumer tax filing for Americans in 2025 and the hurdles people are willing to put themselves through when it comes to filing annually.
Small Business February 4, 2025
Avalara Report Shows States Trying to Simplify Sales Taxes, Amping Up Audit Teams, and Increased E-Invoicing
Key findings in the 2025 Avalara Tax Changes report point to nascent state-by-state efforts to alleviate the burden of tax compliance related to economic nexus laws.
Taxes February 3, 2025
Trump Pauses 25% Tariffs on Canadian Goods for a Month After Deal with Trudeau
After what he called a “good call” with President Trump, Prime Minister Justin Trudeau said Canada would be implementing tougher border security to fight illegal immigration and drug trafficking along the nation’s shared border.
Taxes February 3, 2025
Only 1 in 4 People Feel Confident About Filing Their Taxes, Survey Finds
From a fear of being audited by the IRS to a lack of familiarity with U.S. tax laws, people across the country have expressed a diverse range of emotions as the April 15 federal income tax deadline looms closer, according to findings from a new Adobe survey.