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
AICPA Recommends Nearly 200 Guidance Priorities for the IRS
The American Institute of CPAs provided the IRS with 193 recommendations for the tax agency's 2026-2027 Priority Guidance Plan.
Taxes May 18, 2026
Justice Department Rolls Out $1.8B Fund as Part of Trump Settlement with IRS
The Justice Department announced May 18 a new $1.8 billion “anti-weaponization fund” to compensate anyone for perceived targeting by past administrations as part of settling President Donald Trump’s $10 billion suit against the IRS.
Taxes May 18, 2026
Trump’s IRS Lawsuit May End with a $1.7 Billion Compensation Fund
U.S. officials have discussed creating a $1.7 billion federal fund to pay victims of so-called government weaponization to resolve President Donald Trump’s lawsuit against the Internal Revenue Service.
Taxes May 18, 2026
Anti-Income Tax Constitutional Amendment in New Hampshire Falls Short
A final effort to put an anti-income-tax amendment for the New Hampshire Constitution up for a statewide vote this fall failed on May 14.
Taxes May 15, 2026
IRS Extends Tax Deadline Again for Most Western Washington Residents
Tax Day may have passed weeks ago, but Washington residents living in areas affected by storms, flooding and landslides late last year are getting yet another extension.
Taxes May 14, 2026
Hassan Proposes Bipartisan Bill to Give Tax Relief to Families of Fallen First Responders
Sen. Maggie Hassan, D-N.H., is co-authoring bipartisan legislation to provide two years of federal income tax forgiveness for families of fallen first responders.
Taxes May 13, 2026
Low Income Taxpayer Clinic Grant Application Period Runs Through July 6
LITCs represent low-income taxpayers in controversies with the IRS and educate low-income and English-as-a-second-language individuals about their taxpayer rights and responsibilities.
Taxes May 13, 2026
Foes of Washington ‘Millionaires Tax’ Launch Repeal Initiative
Let's Go Washington, the conservative group leading the anti-tax charge, will need to gather 308,911 signatures from voters by July 2 to qualify for the November ballot.
Taxes May 11, 2026
‘Survivor’ Winner Reveals How Much of $1M Prize She Actually Kept After Taxes
Savannah Louie, who won season 49 of the CBS competition series, shared the details during an appearance on the “Financial Tea with Mrs. Dow Jones” podcast, where she described the tax bill as a shock.
Taxes May 11, 2026
New Court Case Paves Way for Additional Disaster Refund Claims
The main issue contested in the new case was whether section 7508A relief should be applied broadly to taxpayer responsibilities or be limited by IRS pronouncements.
Taxes May 11, 2026
IRS: Applications for TCE and VITA Program Grants Now Accepted
The IRS is accepting applications for Tax Counseling for the Elderly and Volunteer Income Tax Assistance grants through the end of the month.