TIGTA Finds IRS Errors Led to Unlawful Levies on Taxpayers

In September 2025, the Treasury Inspector General for Tax Administration (TIGTA) issued a report on Collection Due Process (CDP) hearings. A CDP hearing allows taxpayers to request an independent review of a proposed levy action, such as the seizure of property to satisfy a tax debt, to ensure the action is justified. TIGTA found 55 […]

2026 Health Insurance Premiums May Spike — Plan Ahead with an HSA

Based on a recent survey of U.S. employers who offer health insurance to employees, consulting firm Mercer reports that 2026 health insurance costs are likely to rise steeply. Employers estimate an average 9% increase in costs if they don’t alter their insurance plans. This could mean higher out-of-pocket costs for covered employees. One way to […]

How will the changes to the SALT deduction affect your tax planning?

The One Big Beautiful Bill Act (OBBBA) shifts the landscape for federal income tax deductions for state and local taxes (SALT), albeit temporarily. If you have high SALT expenses, the changes could significantly reduce your federal income tax liability. But it requires careful planning to maximize the benefits — and avoid potential traps that could […]

New 1099-DA Means It’s Time to Track Your Crypto Activity

IRS Form 1099-DA is a new tax form to be used by brokerage companies to report clients’ digital asset transactions, such as cryptocurrency and nonfungible token trades. The form is currently scheduled to be issued in early 2026, in time for the 2025 filing season. If you bought or traded digital assets in 2025, you […]

Temporary Tax Credit Expansions Had Big Impact, Says New Report

The American Rescue Plan Act (ARPA) of 2021 temporarily expanded the Child Tax Credit. For that year, low-income families were given access to the full amount of the credit. It also allowed the IRS to distribute half of the tax credit through monthly payments from July to December of 2021. The ARPA also temporarily expanded […]

Teachers and others can deduct eligible educator expenses this year — and more next year and beyond

At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. But teachers are also buying school supplies for their classrooms. And in many cases, they don’t receive reimbursement. Fortunately, they may be able […]

Don’t Miss Your Refund — Prepare for the IRS Paper Check Phase-Out

The IRS reminded taxpayers that paper tax refund checks for individuals will be phased out beginning Sept. 30, 2025. The tax agency will publish detailed guidance for 2025 tax returns before the 2026 filing season begins. Until further notice, taxpayers should continue using existing forms and procedures, including those filing their 2024 returns on extension […]

Horses, Pecans, and Crabs — But No Profit?

Taxpayers who are in business to make a profit can generally deduct related expenses. The burden of proving a profit motive is on the taxpayer. Otherwise, the IRS might deem the activity to be a hobby and deductions may be limited. One married couple reported large losses year after year on their tax returns, based […]

New rules could boost your R&E tax savings in 2025

A major tax change is here for businesses with research and experimental (R&E) expenses. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) reinstated the immediate deduction for U.S.-based R&E expenses, reversing rules under the Tax Cuts and Jobs Act (TCJA) that required businesses to capitalize and amortize these costs over five years (15 years […]

IRS Updates Per Diem Rates for Meals, Travel, and High-Cost Areas

The IRS has released new 2025–2026 special per diem rates for ordinary and necessary business expenses incurred when traveling away from home. The guidance includes: 1) special transportation industry meals and incidental expenses (M&IE) rates, 2) the incidental expenses only deduction, and 3) a list of high-cost localities used in the high-low substantiation method. Although […]