IRS Faces Major Funding Cuts in Proposed House Bill

The IRS could face additional funding cuts this fall. Lawmakers have until the end of the fiscal year (Sept. 30) to pass legislation to continue funding the government and avoid a shutdown. The House Appropriations Committee advanced a funding bill that calls for even deeper IRS funding cuts than those proposed by the Trump administration. […]

Seriously delinquent tax debt can put your passport at risk

What does tax debt have to do with your passport? Seriously delinquent tax debt (SDTD) can put your passport at risk, unless an exception applies. In 2025, SDTD is an amount that exceeds $64,000 (adjusted annually for inflation). The IRS must have filed a Notice of Federal Tax Lien and other remedies must be exhausted. […]

IRS, Social Security, DOL to Stop Issuing and Accepting Paper Checks

As a reminder, beginning Sept. 30, 2025, the federal government will no longer issue paper checks, including those for tax refunds, Social Security benefits and more. Also, certain federal agencies, such as the Dept. of Labor (DOL) will stop ACCEPTING payments by paper check. This is part of a program to modernize payments, “improve efficiency […]

How did recent tax legislation change the federal deduction for state and local taxes?

No TIN from a Contractor? Here’s What You Must Do

When your business hires independent contractors, you’re generally not responsible for withholding tax from their compensation. But there are circumstances in which you should withhold a certain percentage of tax (backup withholding) to help ensure the IRS receives it. The most common reason is that a contractor has failed to provide a valid Taxpayer Identification […]

New Tax Break for Tipped Workers – See If Your Job Made the List

The U.S. Treasury Dept. has released a draft list of occupations it proposes to be eligible for a federal tax break on tips. The list contains 68 jobs, broken into eight categories: 1) beverage/food service, 2) entertainment/events, 3) hospitality / guest services, 4) home services, 5) personal services, 6) personal appearance / wellness, 7) recreation/instruction […]

Comparing 2025 Gas Taxes by State

Comparing 2025 Gas Taxes by State https://bit.ly/4pmnJKz

New Rules for R&E Deductions Could Mean Big Savings – Are You Ready?

The One Big Beautiful Bill Act (OBBBA) reinstates immediate deductions for domestic research and experimental (R&E) costs beginning in 2025. The IRS has issued transitional guidance (Revenue Procedure 2025-28) on the change. Among many other things, the guidance explains the procedures for how, if you began to amortize R&E expenses in 2022, 2023 and/or 2024, […]

De Minimis Rule Repealed: New Duties Apply to Low-Value Imports

President Trump has removed the de minimis exemption on low-value trade items. In a nutshell, imported goods valued at $800 or less sent through the international postal network are now subject to applicable duties. As a result, 92% of all U.S. cargo shipments (and up to 4 million daily packages) have lost their duty-free status, […]

Participating = Responsibility: Key Takeaway from TC Memo 2025-91

Spouses filing joint tax returns are generally both liable for the tax owed. But sometimes a spouse may qualify for innocent spouse relief. In one case, a husband owned an insurance firm and his wife ran a small business. She helped their accountant prepare joint tax returns by supplying financial information and signing the returns. […]