Taxes July 15, 2026
Tax-Exempt Organizations and the IRS: FY25 Audit and Penalty Increase and How to Prepare
The old adage “the best defense is a good offense” applies equally to football games and IRS tax-exempt audits.
Taxes July 15, 2026
Ferguson Campaigns Against Initiative to Repeal Washington ‘Millionaires Tax’
Gov. Bob Ferguson kicked off a campaign to preserve the state’s new high-earners income tax on Tuesday, arguing an initiative to kill the tax would have disastrous consequences for schools, small businesses and families.
Taxes July 15, 2026
Make the IRS an Offer It Can’t Refuse
The IRS won’t agree to an offer-in-compromise unless the amount offered is equal to or greater than the reasonable collection potential.
Taxes July 14, 2026
AICPA Expresses Support for Bill to End Tax Penalties on American Hostages
The bill would provide tax relief to Americans and their families if they are unlawfully detained or held hostage abroad.
Taxes July 14, 2026
California Lawmakers Cry Foul Over New Cap Placed on Film Tax Credits
More than three dozen California legislators are calling for Gov. Gavin Newsom to exempt the state’s film and TV production incentive program from a recently approved cap on corporate tax credits.
Taxes July 14, 2026
Hawaii’s New ‘Millionaire Tax’ Rivals Top Tax Rate Among Other States
Personal income tax rates in Hawaii will become a little more progressive next year in part due to a new top rate for high-income households that puts the isles closer to the state with the highest rate.
Taxes July 14, 2026
Supporters of Phasing Out Missouri Income Tax Won’t Talk Specifics Ahead of Public Vote
Supporters of phasing out the state income tax and replacing it with a broader tax on sales and services are not saying what new items would be taxed and how much higher sales taxes might rise if voters approve the proposal on the Aug. 4 primary ballot.
IRS July 13, 2026
Judge Rules Trump IRS Immunity Deal Has No ‘Basis in Law’
U.S. District Judge Kathleen Williams said the president's lawsuit against the IRS "was not brought to vindicate rights; it was brought to manipulate the judicial process to pursue benefits unavailable in litigation because the parties were not adverse.”
Taxes July 12, 2026
What the 2026 ‘Protect Your Clients; Protect Yourself’ Campaign Means for Your Firm this Summer
Get ready for next tax season with a real security program instead of a folder that only gets opened when an audit demands it.
Taxes July 9, 2026
IRS Introduces Automatic Exemption From Penalty Process, Phases Out First Time Abate
The IRS on Wednesday announced a new automatic process that will provide penalty relief for taxpayers who have a history of filing and paying their tax debts on time instead of requiring them to request assistance.
Taxes July 9, 2026
Chicago Aldermen Reject Mayor’s Move to Ask Voters if Millionaires Should Be Taxed
Chicago Mayor Brandon Johnson released a statement on Thursday ripping the City Council Rules Committee for not letting voters have their say on the millionaire tax.
Taxes July 8, 2026
Will World Series of Poker Main Event Attendance Be Impacted by Major Tax Changes?
While there are several variables that help determine the field size for the Main Event, one factor that could impact this year’s tournament is an amendment in the One Big Beautiful Bill Act that limits declarable losses for gamblers.