⏳ Extended Tax Filing Deadline Is Oct. 15 — Don’t Wait to File

If you requested an extension to file your tax return after the April 15, 2025, due date, the extended deadline is Wednesday, Oct. 15. If you have the information you need, you may want to file now. There’s no advantage to waiting, and last-minute filing may lead to worry. If you’re concerned about paying any […]

One Big Beautiful Bill Does Better with Permanence, but Is Still Full of Temporary Provisions

One Big Beautiful Bill Does Better with Permanence, but Is Still Full of Temporary Provisions https://bit.ly/456ndr1

The taxing source of a popular children’s rhyme

Sales Tax Holidays by State

Sales Tax Holidays by State, 2025 | Sales Tax Free Weekends https://bit.ly/4mdORJv

💸 New 1% Tax on International Money Transfers Starts in 2026

Do you send money to someone in another country? If so, because of a lesser-known provision of the One, Big, Beautiful Bill Act, the money you send may be subject to a tax, beginning in 2026. The 1% excise tax applies to transfers of cash or cash equivalents from a sender in the United States […]

🚨 Paper Tax Refund Checks Being Phased Out — AICPA Raises Concerns

In March 2025, President Trump issued an executive order to phase out paper-based Treasury checks, including those for tax refunds, by Sept. 30, 2025. On May 30, 2025, Treasury requested public comments on the plan and received 250 replies, mostly from tax professionals. The American Institute of CPAs (AICPA) expressed concern about the speed of […]

President Trump signs his One, Big, Beautiful Bill Act into law

On July 4, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). As promised, the tax portion of the 870-page bill extends many of the provisions of the Tax Cuts and Jobs Act (TCJA), the sweeping tax legislation enacted during the first Trump administration. It also incorporates […]

$25K Tip Deduction? Yes, It’s Real — But Not for Everyone

The IRS has provided information on how certain provisions in the new law, including no tax on tips, should be executed. Employees and self-employed workers in certain professions (for example, food servers and bartenders) may deduct up to $25,000 in cash or credit card tips paid voluntarily by their customers. Tip income should be reported […]

Separation of Church and State Just Got Blurry

The IRS is clearing the way for churches to endorse or oppose political candidates without the fear of losing their tax-exempt status. This reverses decades of legal precedent. A recent court filing (https://bit.ly/4nLd23r ) essentially revokes the enforcement of the 1954 Johnson Amendment. That amendment prohibited nonprofits from endorsing or opposing candidates in order to […]

Executive Order issued to terminate credits on Wind and Solar Facilities

President Trump signed an executive order (EO) instructing the Treasury Dept. to “strictly enforce the termination of the clean electricity production and investment tax credits” for wind and solar facilities. These are the credits revised or eliminated by the One, Big, Beautiful Bill Act (OBBBA). The EO also requires stricter rules concerning foreign-controlled companies involved […]