Protect Your Tax Identity: Cybersecurity Tips from the IRS

October is Cybersecurity Awareness Month, and the IRS is urging Americans to protect their personal data from hackers and other fraud perpetrators. Always use strong passwords, updated security software and multifactor authentication. Many security experts also advocate using “passkeys” when possible. The IRS says that tax identity theft remains a real threat. So individual and […]

Tax tips for parents with kids heading to college this fall

A higher education is expensive, and many parents spend years saving up. Others haven’t had the financial bandwidth to save or have hit unexpected financial roadblocks along the way. Regardless of your situation, current tax breaks may be available to you (or to your children or even their grandparents) once your child begins attending college […]

IRS Announces 2026 Clean Electricity Production Credit Rates

The Section 45Y Clean Electricity Production Credit provides a technology-neutral tax incentive for electricity generated at qualified zero-emissions facilities placed in service after 2024. The credit is generally based on kilowatt hours (kWhs) of electricity produced and sold, consumed or stored under qualifying conditions. For 2026, the IRS recently announced an inflation-adjusted credit of 0.6 […]

Taxpayer Assistance Act Advances to the House for Consideration

The Taxpayer Assistance and Service Act has cleared another hurdle. On Sept. 30, the Senate unanimously approved the bipartisan legislation. The 65-provision bill, among other things, would enhance online account functionality, improve callback technology, provide more information about processing backlogs and require written supervisory approval before certain penalties are assessed. It also would strengthen oversight […]

Making smarter capital investment decisions

Whether you’re buying equipment, automating processes, launching a new product line or expanding your facilities, capital investment decisions shouldn’t be based on intuition alone. Your management team may identify several promising growth opportunities. Which ones can your business realistically support today with available cash flow, financing and staffing — and which ones can wait? A […]

IRS Proposes Rules for the New Federal Scholarship Tax Credit

The IRS has issued proposed regs on the Federal Scholarship Tax Credit (FSTC). The guidance clarifies how to claim the credit for qualified cash contributions to eligible Scholarship Granting Organizations (SGOs). It also addresses, among other things, how state tax credits affect the federal credit and how unused credits can carry forward for up to […]

IRS Clarifies Tax Rules for Charitable Gifts, Overtime Pay and More

The IRS National Office regularly releases information letters to the public responding to requests from taxpayers and government officials for general information on particular tax subjects. For example, in three separate letters, the IRS recently: 1) clarified general requirements for claiming charitable donation deductions, 2) addressed the tax status of sports governing bodies, and 3) […]

Feathering your retirement nest with alternative investments

The IRA Rollover Rule That Could Trigger Unexpected Taxes

The “one-rollover-per-year” rule limits retirement account holders to one indirect IRA-to-IRA rollover within a 12-month period. “Indirect” means you withdraw funds from one IRA and deposit them yourself in the same or another IRA within 60 days. If you attempt a second indirect rollover during the one-year period, the portion not previously taxed will be […]

New IRS Guidance Explains Trump Account Enrollment and Contributions

New temporary IRS regs address auto enrollment and contributions to Section 530A (or Trump) accounts. On or around Oct. 1, 2026, the U.S. Treasury Dept. will automatically establish accounts for eligible children with Social Security numbers who don’t have one. Parents or guardians must still claim the account before making deposits or receiving employer contributions […]