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Current Tax News
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An annual survey of AICPA members about IRS service showed the majority of respondents are concerned that political distractions will affect agency funding and administration in the future. [...]
The recommendations, sent Tuesday in a letter to Treasury and the IRS, include that the IRS expressly allow taxpayers to rely on proposed regulations until they are final. [...]
Early Thursday morning, the House of Representatives passed the One Big Beautiful Bill Act by one vote. The bill had been amended by the Rules Committee, and it now goes to the Senate for consideration. [...]
In a letter to congressional committee leaders, the AICPA said Congress should strike language from the tax bill that bars Treasury from regulating contingent fees. [...]
Sunday revote came after Republican fiscal hawks initially joined Democrats to sink the bill, which includes tax provisions approved by the House Ways and Means Committee last week. [...]
Between Russia’s war in Ukraine, President Trump’s uncertain policies towards Europe, and Poland’s attempt to increase domestic defense capabilities, raising revenue has become one of the most critical topics in the campaign. [...]
It’s been a whirlwind 24 hours in tariff news: first, a trade court blocked Trump’s sweeping new tariffs, calling them executive overreach. Then, a federal appeals court reinstated them—at least for now. We break down what happened, what’s next, and why it matters. [...]
In the United States, individual income taxes (federal, state, and local) are the primary source of tax revenue, followed by social insurance taxes (including payroll taxes for Social Security and Medicare), consumption taxes, property taxes, and corporate income taxes. [...]
While it would be more expensive than just a fix, and, on the margin, Congress should be looking for pay-fors rather than more tax cuts, full CAMT repeal may be much less expensive than previously thought. [...]
Florida’s latest property tax debate highlights the familiar challenge of prioritizing pro-growth tax policy while tackling rising property tax burdens. [...]
The One Big Beautiful Bill Act — also known as the Big Beautiful Bill, or One Big Beautiful Bill (OBBB) […] The post One Big Beautiful Bill: What You Need to Know appeared first on . [...]
Updated for tax years 2024 and 2025. You may qualify for the qualified business income deduction (QBI deduction) if you’re filing […] The post What Is the QBI Deduction and How Does it Work? appeared first on . [...]
Raising kids or caring for a dependent isn’t cheap — especially when you’re juggling work or school on top of […] The post Are Daycare Expenses Tax-Deductible? Understanding the Child and Dependent Care Credit appeared first on . [...]
A summer job is a great way to add extra money to your bank account. Whether you’re a cash-strapped student, a […] The post How a Summer Job Affects Your Taxes appeared first on . [...]
Now is the perfect time to perform a mid-year review of your business activity, including your tax liability. Staying on […] The post Mid-Year Review for Tax-Savvy Business Owners appeared first on . [...]