Taxes September 11, 2025
2025 Child Tax Credit – New Changes Coming Under Trump Tax Law
The CTC is now bigger and better—permanently. The new also retains a special tax credit for non-child dependents.
Taxes September 11, 2025
Teacher Tax Credit Changes Under 2025 Trump Tax Law – OBBBA
The deduction isn’t just for teachers (although they are the most common benefactors). It may also be claimed by someone who works as an instructor, counselor, principal, or aide for students in K-12.
Special Section: Guide to 2025 Tax Changes September 11, 2025
Three Education Tax Breaks in the New Tax Rules – OBBBA Tax Law Changes
The new “One Big Beautiful Bill Act” (OBBBA) is enhancing several tax breaks relating to education in addition to increasing family tax credits for raising young children.
Taxes September 9, 2025
IRS Has Doled Out $162M in Penalties to Taxpayers Over False Tax Credit Claims Linked to Bad Social Media Advice
Thousands of taxpayers have filed inaccurate or frivolous returns that falsely claim the Fuel Tax Credit and the Sick and Family Leave Credit, often resulting in the denial of refunds and steep penalties, the IRS said Sept. 8.
Payroll September 9, 2025
What is the IRS Rule of 55 and How Does it Work?
The rule of 55 can benefit workers who have an employer-sponsored retirement account and are looking to retire early or need access to the funds if they’ve lost their job near the end of their career.
Taxes September 9, 2025
IRS Decides to Shutter Nine Taxpayer Assistance Centers
The IRS is reportedly closing nine taxpayer assistance centers in six states later this year in an apparent cost-savings move, as the agency faces a potentially smaller budget for fiscal year 2026.
Taxes September 4, 2025
IRS Has Shared Data on More Than 40,000 Immigrants with ICE
The IRS has already shared the residential addresses of more than 40,000 foreigners with immigration authorities, who are seeking to have the confidential information of at least 1 million more people incorporated directly into their database.
IRS September 3, 2025
IRS Reminds Tax Pros to Guard Against ID Theft
In the first half of the year there were nearly 300 data breaches reported impacting as many as 250,000 clients.
Taxes September 3, 2025
Treasury Department Releases List of 68 Jobs Covered by ‘No Tax on Tips’ Provision of New Tax Bill
The Treasury Department has provided a list of 68 jobs that will be covered by the “no tax on tips” provision in the One Big Beautiful Bill Act.
Taxes September 2, 2025
IRS-CI is Cracking Down on Illegal Sports Gambling
As the NFL season is set to begin on Thursday night and with the first official week of college football in the books, the IRS Criminal Investigation unit has a message for sports bettors: Bet safe. Bet legal.
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.
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.