Taxes December 31, 2025
IRS Issues Proposed Regs on OBBBA’s Car Loan Interest Deduction
The IRS and U.S. Treasury just rolled out official guidance on a brand-new tax deduction that could save car buyers up to $10,000 in 2026.
Taxes December 31, 2025
IRS-CI Releases Its 2025 Highlight Reel
From tax evasion to cybercrime, IRS Criminal Investigation’s top 10 cases of 2025 resulted in multiyear prison sentences and multimillion-dollar financial settlements.
Taxes December 30, 2025
IRS Raises Business Standard Mileage Rate to 72.5 Cents Per Mile for 2026
The IRS announced on Dec. 29 that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents to 72.5 cents per mile driven in 2026.
Taxes December 30, 2025
Will Billionaires Really Leave California? Why Wealth Tax Backers Aren’t Worried
If passed by California voters in November 2026, the measure would impose a one-time tax of 5% on individuals with assets worth $1 billion or more.
Taxes December 29, 2025
Tax Court Affirms Nature of Constructive Dividends
In a new case, Alioto, TC Memo 2025-125, 12/4/25, a C corporation paid the personal expenses of its main shareholder, with adverse tax consequences.
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 December 26, 2025
IRS Extends Tax Deadline to May 1 for Washington Storm Victims
The IRS announced tax relief for individuals and businesses in Washington state affected by severe storms, straight-line winds, flooding, landslides, and mudslides that began on Dec. 9.
Taxes December 26, 2025
Marijuana Group Appeals Court Order Upholding Michigan’s 24% Wholesale Tax, Urges Action by Jan. 1
The Michigan Cannabis Industry Association on Tuesday appealed a lower court ruling that upheld the imposition of a new 24% wholesale tax on marijuana sales, set to take effect Jan. 1, 2026.
Taxes December 26, 2025
Column: Let’s Be Grateful for the Gift of Tax Indexing
The legendary 1981 Reagan tax cut included a little-known provision called tax indexing, which has been saving taxpayers money ever since—far more money than most of us can imagine.
Taxes December 26, 2025
Gov. Ferguson Expresses Support for Income Tax on Millionaires in Washington State
Gov. Bob Ferguson said Dec. 23 the proposal would be tied to reducing sales taxes on baby and hygiene items, expanding the working families tax credit, increasing K-12 school funding, and lowering the key tax rate for small businesses.
Special Section: Guide to 2025 Tax Changes December 23, 2025
2026 Income Tax Filing Guide – An Overview of All of the New Tax Laws – OBBBA
This series of articles spotlights key tax issues and changes made to tax law in 2025 that will affect the 2026 income tax filing season and the years to come, as a result of the One Big Beautiful Bill Act.
Taxes December 23, 2025
IRS Rolls Out Digital Form for Whistleblower Claims
The IRS Whistleblower Office said Dec. 19 that it's making it easier for whistleblowers to report tax cheats to the IRS with the launch of the new digital Form 211, "Application for Award for Original Information."