Taxes July 25, 2025
IRS Sets July 29 Deadline to Revalidate Business Tax Account Access
Business Tax Account designated officials must revalidate their accounts by July 29 in order to maintain access, the IRS said on Wednesday.
Taxes July 24, 2025
IRS Slot Machine Jackpot Threshold is Going Up, Experts Say
The slot reporting threshold is governed by an IRS regulation, so the change will not go into effect until the agency updates its rules.
Taxes July 23, 2025
IRS Gives Tax Filing Relief to Those Impacted by May St. Louis Tornado
The IRS recently announced tax relief for individuals and businesses located in the city of St. Louis and St. Louis and Scott counties in Missouri after an EF3 tornado caused widespread destruction on May 16.
Accounting July 23, 2025
AICPA Survey Reveals What Relief Americans Want from the IRS Following a Natural Disaster
Americans were asked which type of tax filing and payment relief would be helpful after experiencing a natural disaster.
IRS July 22, 2025
IRS Workforce Has Shrunk 25% Since Trump Took Office
The IRS workforce has been slashed from approximately 103,000 employees in January when Donald Trump began his second term as president to 77,428 in May, with some of the biggest job cuts among tax examiners and revenue agents, according to a new TIGTA report.
Taxes July 21, 2025
IRS Extends Filing Deadlines for Taxpayers in 4 New Mexico Counties Following Severe Floods
Individuals and businesses with addresses in Chaves, Lincoln, Otero, and Valencia counties in New Mexico now have until Feb. 2, 2026, to file various federal tax returns and make tax payments.
Accounting July 21, 2025
AICPA Asks Treasury, IRS for Guidance on SECURE 2.0 Roth Catch-Up Contributions
In a letter sent to Treasury and the IRS earlier this month, the AICPA requested additional guidance related to catch-up contributions designated as Roth contributions within Section 603 of the SECURE 2.0 Act of 2022.
Taxes July 17, 2025
IRS Explains New Trump Tax Law Deductions for Workers, Seniors
The IRS released a fact sheet earlier this week describing new tax provisions—no tax on tips, no tax on overtime, no tax on car loan interest, and a deduction for seniors—in the One Big Beautiful Bill Act.
Small Business July 17, 2025
37% of Finance Leaders Have Already Paused Some Capital Spending, But Still Focused on AI
Further, 67% of finance leaders are either currently cutting costs with more expected, have completed cuts or are planning to cut in the second half of the year.
Taxes July 11, 2025
IRS Provides Tax Relief to Kerr County After Deadly Texas Floods
Individuals and businesses in Kerr County, Texas, have until Feb. 2, 2026, to file various federal tax returns and make tax payments after flash floods hit the Texas Hill Country on the Fourth of July.
Taxes July 11, 2025
IRS Church Endorsement Change Puts ‘Enormous Pressure’ on Faith Leaders
The IRS said July 7 in a Texas court filing that churches and other religious nonprofits can make political endorsements to their congregations without endangering their tax-exempt status
Taxes July 10, 2025
IRS Eliminates 83 Pieces of Obsolete Guidance
The IRS has nixed 83 pieces of older guidance considered obsolete as part of the Trump administration's push to reduce regulations that are considered burdensome, outdated, expensive, or unnecessary.