Taxes February 26, 2026
The letter focuses on Section 70111, which modifies the Section 68 limitation on itemized deductions and provides comments on Notice 2025‑68, outlining the IRS’s planned regulations for Section 530A Trump accounts.
Taxes February 24, 2026
The AICPA is requesting the IRS issue guidance, through modifications to Revenue Procedure 2025-28 and/or other published guidance, regarding the capitalization and amortization of domestic research and experimentation under IRC Section 174A(c).
Taxes February 23, 2026
In addition to other requirements, the special depreciation allowance only applies to qualified production property placed in service after July 4, 2025, and before Jan. 1, 2031.
Taxes February 18, 2026
People who earn income or receive payments through third-party settlement organizations like Cash App, eBay, Etsy, PayPal, and Venmo—for the payment of “goods or services”—may receive Form 1099-K this year. Here are the new rules.
Tax Planning February 18, 2026
H.R.1, the One Big Beautiful Bill Act, made several changes to the tax rules for charitable contributions, including a new charitable contribution deduction for non-itemizers effective starting in 2026.
Taxes February 17, 2026
The Trump administration’s interim guidance on clean energy tax credits released Thursday offered some relief to the industry by laying out a manageable path for new projects. But, it still left investors uncertain.
Taxes February 16, 2026
Gov. Maura Healey has proposed delaying implementation until next year of what she described as the five “most costliest” changes in the federal tax code created by the One Big Beautiful Bill Act.
Taxes February 13, 2026
The One Big Beautiful Bill Act introduced comprehensive foreign entity of concern rules forbidding prohibited foreign entities from claiming clean energy tax credits.
Taxes February 12, 2026
The Senate passed a joint resolution on Thursday blocking changes to the District of Columbia’s tax code, which will now head to President Donald Trump’s desk.
Taxes February 11, 2026
Under the One Big Beautiful Bill Act, U.S. workers can now temporarily deduct tips from their federal income taxes, up to a $25,000 limit. But Illinois is one of the states that are decoupling with the policy, so tipped income will still be taxed at the state level.
Taxes February 11, 2026
To raise revenue and offset an increased state cost of administering Medicaid, Michigan Gov. Gretchen Whitmer is proposing six new taxes: on tobacco and vapes, digital advertising and sports betting, along with a new internet tax rate on the state’s largest casinos.
Taxes February 10, 2026
Oregon Democrats advanced their plan to generate more than $300 million for the current state budget by ending several state tax breaks copied from President Donald Trump’s big 2025 tax- and budget-cutting bill.