Taxes August 19, 2026
IRS Posts Updated Fact Sheet on Business Interest Expense Deduction Limit
The IRS said Aug. 19 that it has updated frequently asked questions about the limitation on the deduction for business interest expense.
Taxes August 12, 2026
Wyden’s Wildfire Tax Relief Bill Passes Just Before Congress Recesses
A bill backed by Oregon Sen. Ron Wyden to relieve natural disaster survivors from paying federal income taxes on their recovery settlements passed against unexpected odds.
Taxes August 7, 2026
IRS Updates FAQs on OBBBA Overtime Tax Deduction
The IRS updated frequently asked questions about the new deduction for qualified overtime compensation, one of the many One Big Beautiful Bill Act tax provisions touted by the Trump administration.
IRS July 16, 2026
IRS Business Mileage Rate Increases to Record 76 Cents Per Mile
The IRS raised the optional standard mileage rates for the remainder of this year. The reason: recent increases in the price of fuel, as gasoline once again inches close to $4 a gallon amid the renewed fighting between the U.S. and Iran.
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.
Taxes May 11, 2026
IRS Plans Settlement Offers in Conservation Easement Disputes
The IRS said last week that it will soon release the terms of a limited-time settlement opportunity for eligible taxpayers involved in conservation easement disputes.
Taxes May 4, 2026
Trump Touts ‘Golden Age’ for Seniors During Florida Rally
President Donald Trump came to the friendly territory of Florida’s retirement haven Friday for his first public event since an alleged assassination attempt against him, touting tax cuts for seniors and parading Dr. Phil on stage.
Taxes April 30, 2026
Federal Disaster Tax Relief Certainty Act Passes House
The bipartisan bill, introduced by U.S. Reps. Mike Thompson (D-CA) and Greg Steube (R-FL), would permit victims to claim disaster-related personal casualty losses without having to itemize deductions through Jan. 1.
Taxes April 29, 2026
House Passes Panetta’s Bipartisan ‘Supporting Early-Childhood Educators’ Deductions Act’
Introduced by Rep. Jimmy Panetta (D-CA), the SEED Act would allow early childhood educators to take a tax deduction for classroom supplies, educational materials and professional development opportunities.
Taxes April 21, 2026
New York Congressman’s Legislation Would Allow Tax Deductions on Utility Bills
The No Taxes on Utility Bills Act, introduced by Rep. John Riley (D-NY), would allow U.S. taxpayers to deduct all taxes and state-mandated surcharges included on gas and electric bills.
Taxes April 20, 2026
Johnson, Scalise Lean on Tax Cuts as They Fight to Keep Their Majority in Congress
House Speaker Mike Johnson, Rep. Steve Scalise, and their GOP colleagues say millions of taxpayers saved money on One Big Beautiful Bill Act tax breaks like exemptions for some tips, overtime, state and local taxes, and more.
Taxes April 17, 2026
Mamdani Made More Than $1,600 in Rapping Royalties Last Year, Tax Return Shows
New York City Mayor Zohran Mamdani made $1,643 in royalties from his now-defunct rap career last year, a copy of his tax return shows.