IRS Taxpayer Advocate reviews filing season challenges

The IRS National Taxpayer Advocate Erin Collins recently released a “Fiscal Year 2026 Objectives Report to Congress.” Although she described the 2025 filing season as “one of the most successful in recent memory,” she warned of potential risks the agency must prepare for in 2026. The risks stem from a 26% reduction in the IRS […]

Bill addresses deduction of R&E expenses

Before the Tax Cuts and Jobs Act limited the deductibility of research and experimentation (R&E) expenses in 2022, businesses could deduct them in the year they were incurred. Currently, R&E expenses must be capitalized and amortized over five years for domestic activities and 15 years for foreign activities. Some companies complain that the current law […]

From New Grads to Seasoned Pros – We’re Hiring Accountants!

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📣 Public Accounting Opportunities – Build Your Future With Us

📣 Public Accounting Opportunities – Build Your Future With UsWhether you’re just starting your career or bringing years of experience to the table, we want to meet you. Our firm is growing, and we’re looking for entry-level and experienced accountants who are ready to thrive in a collaborative, client-focused environment. 🔍 What We’re Looking For: […]

Fees on electric cars in the House Bill

The U.S. House version of The One, Big, Beautiful Bill contains a provision that may surprise electric and hybrid vehicle owners. If enacted into law, the bill would impose an annual fee on clean energy cars: initially $250 for EVs and $100 for hybrids, with yearly rates pegged to inflation. Republican lawmakers say the fees […]

Celebrating Freedom – Happy 4th of July from Van de Ven CPAs 🎆

The 4th of July is more than a celebration—it’s a moment to reflect on the courage, vision, and values that shaped our nation. It reminds us of the freedom and opportunity we’re privileged to enjoy and the responsibility we share to uphold those ideals every day. At Van de Ven CPAs, these principles inspire our […]

Missouri’s Billy Long takes the helm at the IRS

Billy Long was sworn in as the 51st commissioner of the IRS on June 16. He’ll finish out the term of his predecessor, Danny Werfel, who resigned as IRS commissioner on Jan. 20, 2025. Long served as a U.S. representative for Missouri’s 7th Congressional District from 2011 to 2023. He said he plans to develop […]

What happens to Clean Energy in the Tax Bill?

Republican lawmakers are proposing to make cuts to several clean energy initiatives created or enhanced by the Inflation Reduction Act. The U.S. House’s version of The One, Big, Beautiful Bill repeals the $7,500 credit for new clean vehicles and the $4,000 credit for used clean vehicles after Dec. 31, 2025. Clean vehicles include qualified plug-in […]

Avoid this tax trap

Have you recently changed jobs? You may want to roll over funds in your former employer’s 401(k) plan to an IRA. But there’s a tax trap for the unwary. You can avoid it by arranging for a direct trustee-to-trustee transfer from the plan to your IRA. Why a direct transfer? If you receive 401(k) funds […]

What’s happening with bonus depreciation?

Do business owners fare better under The One, Big, Beautiful Bill passed by the U.S. House or the version recently released by the U.S. Senate Finance Committee (SFC)? Both include key provisions that affect domestic businesses. Under current law, first-year bonus depreciation (now at 40%) will phase out entirely by 2027. The House bill proposes […]