Taxes October 22, 2025
The bipartisan IRS MATH Act, as it’s known, cleared the Senate unanimously on Oct. 21, after previously winning approval in the House of Representatives on a voice vote in April.
Taxes October 21, 2025
The IRS issued transitional guidance on Oct. 21 that provides penalty relief to certain lenders on the new information reporting requirements for car loan interest received in 2025 under the new Trump tax law.
Taxes October 8, 2025
Notice 2025-55 provides relief in connection with the new 1% excise tax imposed on certain remittance transfers under the One Big Beautiful Bill Act.
Taxes October 3, 2025
The Treasury Department and the IRS issued new guidance Sept. 30 on qualified opportunity zone investments in rural areas under the One Big Beautiful Bill Act, the tax-and-spending bill signed into law in July.
Taxes September 30, 2025
The $7,500 federal incentive, which had two main iterations over an almost 17-year run, expires after the calendar flips past Tuesday as a result of legislation enacted this year.
General News September 26, 2025
Legislation that allows victims of the Jan. 7 fire storms to receive up to a year of mortgage relief was signed by California Gov. Gavin Newsom as an urgency measure that takes effect immediately.
Taxes September 23, 2025
Rep. Nicole Malliotakis (R-NY) announced Sept. 19 that she has introduced bipartisan legislation to ensure that all union workers benefit from the “no tax on overtime” provision that was included in President Donald Trump’s One Big Beautiful Bill Act.
Taxes September 23, 2025
Gov. Gavin Newsom on Monday signed AB 564 into law, a bill that reverses a 25% increase in the cannabis excise tax and freezes that tax at 15% until 2028.
Taxes September 19, 2025
The Senate shot down dueling versions of a short-term funding patch on Sept. 19 before leaving town for a weeklong recess without a plan in place to avoid a partial government shutdown next month.
Taxes September 19, 2025
Congressional Democrats won't get any help from Sen. John Fetterman (D-PA) as they risk a government shutdown in a bid to extend expiring Affordable Care Act tax credits.
Taxes September 19, 2025
The Treasury Department and the IRS issued proposed regulations on Sept. 19 that confirm the occupations eligible for the deduction, which excludes any tips received for "illegal activity" and "pornographic activity."
Taxes September 15, 2025
Schedule 1-A, "Additional Deductions," for Form 1040 will be used during the 2026 tax season to calculate new deductions for tips, overtime, car loan interest, and senior citizens.