Taxes October 2, 2026
Tax Court Forces Guitar Collector to Change His Tax Tune
The absolute necessity for accurate recordkeeping by both individuals and corporations cannot be overemphasized.
Taxes September 29, 2026
Don’t Blink at Medical Deductions for Cosmetic Surgery
The test is whether the surgery is being performed so you can look or feel better or if it addresses a specific medical condition.
IRS September 24, 2026
IRS Publishes Per Diem Rates for Business Travelers for 2026-2027
Each year the IRS announces special per diem rates taxpayers can use to substantiate the amount of expenses for lodging, meals, and incidental expenses when traveling away from home.
Legislation September 24, 2026
Bill to Reverse Change Made to Gambling Tax Code Advances in House
Legislation that would restore the full federal tax deduction for gambling losses is back on track as it passed out of committee and now awaits a House vote.
Legislation September 23, 2026
House Passes Bill That Gives Tax Relief to Fraud Victims
Americans would be able to deduct money lost to fraud and scams from their federal taxes under a bill by U.S. Rep. Max Miller (R-OH) that passed last week in the House of Representatives.
Taxes August 19, 2026
IRS Posts Updated Fact Sheet on Business Interest Expense Deduction Limit
The IRS said Aug. 19 that it has updated frequently asked questions about the limitation on the deduction for business interest expense.
Taxes August 12, 2026
Wyden’s Wildfire Tax Relief Bill Passes Just Before Congress Recesses
A bill backed by Oregon Sen. Ron Wyden to relieve natural disaster survivors from paying federal income taxes on their recovery settlements passed against unexpected odds.
Taxes August 7, 2026
IRS Updates FAQs on OBBBA Overtime Tax Deduction
The IRS updated frequently asked questions about the new deduction for qualified overtime compensation, one of the many One Big Beautiful Bill Act tax provisions touted by the Trump administration.
Taxes July 21, 2026
Americans Don’t Know Their Taxes: A Third Fear They’ve Missed Deductions or Credits
These issues may explain why one in four (25%) Americans say tax season negatively impacts their mental health.
IRS July 16, 2026
IRS Business Mileage Rate Increases to Record 76 Cents Per Mile
The IRS raised the optional standard mileage rates for the remainder of this year. The reason: recent increases in the price of fuel, as gasoline once again inches close to $4 a gallon amid the renewed fighting between the U.S. and Iran.
Taxes May 18, 2026
What’s the Tax Verdict on Deducting Legal Fees?
As evidenced by a new Tax Court decision, Rosso, TC Memo 2025-115, 11/6/25, payment of fees relating to some types of legal actions may still be deductible.
Taxes May 18, 2026
IRS Lays Out Terms for Conservation Easement Dispute Settlements
The IRS last week announced the terms of a new settlement opportunity for eligible taxpayers involved in syndicated conservation easement or historic preservation easement disputes with the tax agency.