Taxes July 25, 2025
IRS Sets July 29 Deadline to Revalidate Business Tax Account Access
Business Tax Account designated officials must revalidate their accounts by July 29 in order to maintain access, the IRS said on Wednesday.
Small Business July 25, 2025
Some Small Business Owners Sweating Impact Trump Tax Law Will Have on Their Bottom Line
Business owners have shared concerns about cuts to Medicaid and other health care programs, while the U.S. Chamber has praised the new law as pro-growth.
Taxes July 25, 2025
Trump’s Big Bill Boosts Micron’s Tax Break for Chip Plants by About $5 Billion
The bill increases an existing investment tax credit from 25% to 35% for semiconductor manufacturers who build new plants in the United States.
State and Local Taxes July 25, 2025
Taking a Look at the New SALT Deduction
Now that the 2025 federal tax bill has been signed into law, it’s appropriate to revisit one of its most news-making elements: the federal deduction for state and local taxes.
Taxes July 24, 2025
IRS Slot Machine Jackpot Threshold is Going Up, Experts Say
The slot reporting threshold is governed by an IRS regulation, so the change will not go into effect until the agency updates its rules.
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Taxes July 23, 2025
AI Tax Platform April Raises $38 Million in Funding
With core infrastructure in place, april is now focused on delivering the most connected tax software to enable millions of Americans to forecast, optimize, and file their taxes.
Taxes July 23, 2025
IRS Gives Tax Filing Relief to Those Impacted by May St. Louis Tornado
The IRS recently announced tax relief for individuals and businesses located in the city of St. Louis and St. Louis and Scott counties in Missouri after an EF3 tornado caused widespread destruction on May 16.
IRS July 22, 2025
IRS Workforce Has Shrunk 25% Since Trump Took Office
The IRS workforce has been slashed from approximately 103,000 employees in January when Donald Trump began his second term as president to 77,428 in May, with some of the biggest job cuts among tax examiners and revenue agents, according to a new TIGTA report.
Taxes July 22, 2025
Operation Needed to Claim Net Operating Losses
Prior to the Tax Cuts and Jobs Act (TCJA) NOLs could be carried back two years to offset taxable income before being carried forward for up to 15 years.
Taxes July 22, 2025
SmartVault to Launch SmartRequestAI to Automate Document Collection and Client Intake Process for Tax Professionals
Launching later this year to enable firms before the tax season rush, SmartRequestAI uses proprietary AI technology to automate and streamline one of the most time-consuming parts of tax prep.
Taxes July 21, 2025
Trump Tax Law to Add $3.4 Trillion to U.S. Deficits, CBO says
The Congressional Budget Office score for the law, released July 21, reflects a $4.5 trillion decrease in revenues and a $1.1 trillion decline in spending through 2034, relative to a current-law baseline.