Taxes February 13, 2026
Tax Court Slams Brakes on Charitable Deduction
The Tax Court immediately nixed the deduction because of the inadequate substantiation and the lack of any appraisal for high-income items.
Taxes February 4, 2026
WARNING: TikTok, Insta and Other Social Tax Advice is So Bad, It Can Lead to Fines or Handcuffs
Many fraudulent tax schemes have been circulating on social media, promoting misuse of tax credits or deductions that most taxpayers don’t qualify for.
Taxes January 23, 2026
New Effort to Restore Gambling Loss Tax Deduction Busts in House
The House Rules Committee declined to advance an amendment to a larger spending bill that would restore a gambler’s ability to deduct 100 percent of losses on annual tax filings.
Taxes January 20, 2026
Reps. Miller and Horsford Introduce House Bill to Restore Gambling Loss Tax Deduction
The Facilitating Useful Loss Limitations to Help Our Unique Service Economy Act would restore the long-standing rule allowing gamblers to deduct 100% of their gambling losses against their winnings.
Taxes January 15, 2026
IRS Posts Interim Rules on Permanent 100% Additional First-Year Depreciation Deduction
The Treasury Department and the IRS released interim rules on the additional first-year depreciation deduction for eligible depreciable property acquired and placed in service after Jan. 19, 2025, provided by the One Big Beautiful Bill Act.
Income Tax January 8, 2026
10 Tax Deductions the IRS Will Slap Down Fast
While there have been several unusual deductions that were approved by the courts or the IRS, here are 10 that didn’t make the grade.
Taxes January 6, 2026
7 Wild and Crazy Tax Deductions that the IRS Actually Allowed
As the 2026 tax filing season gets underway, take note of these seven “wild and crazy” deductions that have previously been allowed.
Taxes January 5, 2026
Bettors’ Phantom Winnings—in Nevada and Elsewhere—Now Face Real Tax Liability
Gamblers and casual bettors nationwide face a new tax reality: Starting in 2026, they can deduct just 90% of their losses against winnings, a drop from the prior full 100% allowance.
Taxes December 26, 2025
New USPS Rule Could Affect Year-End Tax Deductions
As a result of the new stipulation, the date stamped on mailed items may be several days later than when the mail was actually deposited, raising concerns for taxpayers who rely on the postmark to document the timing of charitable gifts.
Taxes November 12, 2025
California Gov. Gavin Newsom’s Ex-Chief of Staff Accused of Fraud, Tax Crimes in Public Corruption Case
Federal officials arrested Dana Williamson on Nov. 12 in a public corruption probe that includes multiple charges of bank and wire fraud, and accuses her of filing false tax returns.
Taxes October 21, 2025
IRS Provides Relief to Lenders for 2025 on Car Loan Interest Reporting Under OBBBA
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.
Income Tax October 16, 2025
Income Taxes and Puerto Rico – Feds Increase Scrutiny of Residency: 2025 Update
Recent cases show that federal prosecutors have subpoenaed client files from a major law firm, signaling that investigators are reviewing taxpayers’ actions and also the advice and documentation prepared by advisers.