Investing in Opportunity Zones? Here’s What the Latest IRS Guidance Says

Investors willing to make long-term investments in economically distressed communities have a tax incentive for doing so: the Qualified Opportunity Zone (QOZ) program. It allows investors to defer the tax (and potentially ultimately reduce it) on recognized capital gains by reinvesting those gains in Qualified Opportunity Funds (QOFs) that, in turn, invest in QOZs. The […]

Closing businesses: Don’t forget these tax tasks

IRS Faces Uncertainty Amid Government Shutdown — Filing Deadlines Still Apply

Congressional leaders were unable to come to an agreement on a short-term funding deal. As a result, the federal government has shut down. The last government shutdown was in 2019, lasting 35 days. According to the IRS’s contingency plan, most of its services will continue for up to five business days. It’s unclear what will […]

Tariff Confusion Fuels Rise in Consumer Scams

With increasing attention on tariffs, confusion is also rising. Consumer Affairs, a nongovernment consumer advocacy group, warns that scammers are seeking to exploit the confusion. They contact consumers by email or social media ads, urging them to sign up for tariff relief benefits such as gift cards or digital payments. To sign up, those targeted […]

FAQ: The One Big Beautiful Bill Act Tax Changes

FAQ: The One Big Beautiful Bill Act Tax Changes https://bit.ly/4mJ0Lvk

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 […]