Taxes July 31, 2025
New Federal School Voucher Program Poses a Quandary for States: Opt In or Opt Out?
A tax credit in Trump’s signature law leaves states to sort out rules, funding, and oversight.
Taxes May 1, 2024
IRS Provides Safe Harbors For the Clean Aviation Fuel Credit
New guidance touches on the role farmers will play in the production of clean jet fuels and reducing emissions in the aviation industry.
Taxes April 24, 2024
Bipartisan Bill Would Force IRS to Fix Issues With Math Error Notices
The bill, introduced in both the House and the Senate, would require the IRS to spell out exactly what the error on the return is.
Taxes April 17, 2024
IRS Extends RMD Tax Relief for Inherited IRAs
This relief was provided to certain RMDs in 2021, 2022, and 2023, and is being extended in Notice 2024-35 to 2024.
Taxes April 17, 2024
IRS Updates FAQs on Electric Vehicle Tax Credits
The revised FAQs pertain to the new, previously owned, and qualified commercial clean vehicle credits.
Taxes April 11, 2024
Trump Tax Cuts Were Neither Panacea Nor Rip-Off
While the cuts yielded benefits to Americans up and down the income scale, the benefits could best be described as modest.
Taxes April 9, 2024
IRS Proposes Regs For Stock Repurchase Excise Tax
The new guidance pertains to the Inflation Reduction Act's 1% excise tax owed on corporate stock repurchases or buybacks.
Taxes April 9, 2024
IRS: Energy-Efficient Rebates Not Income
However, taxpayers will need to reduce the basis of the property when they sell it by the amount of the rebate, the IRS said last week.
Taxes April 5, 2024
Bipartisan $78 Billion Tax Deal Hits GOP Roadblock in Senate
Senate Republicans don’t want to hand President Biden an election-year victory on the legislation, which passed the House in January.
Legislation March 21, 2024
The New Tax Court Limited Partnership Ruling: What to Know
The U.S. Tax Court determined that the exception to net earnings from self-employment in Section 1402(a)(13) of the Internal Revenue Code of 1986, as amended, does not automatically apply to all limited partners in a state law limited partnership.
Taxes March 20, 2024
Warren Reintroduces ‘Ultra-Millionaire’ Tax Legislation
The tax, which would impact the top 0.05% of the nation’s households, would bring in $3 trillion in revenue over 10 years.
Taxes March 18, 2024
Tax Law: These TCJA Provisions Will Expire Soon
The nation’s lawmakers may allow these provisions to expire as written into the TCJA, extend them indefinitely, for a period of time or even permanently, or otherwise modify them.
Accounting March 13, 2024
Bill on Alternate Path to CPA Licensure Gains Momentum in Minnesota Senate
The legislation, which moved to the state's Senate Finance Committee, would provide an option to licensure with 120 credit hours.