The IRS has announced it will soon retire its Filing Information Returns Electronically (FIRE) system. FIRE is used primarily by small businesses, self-emp...
Does your business incur research and experimentation (R&E) expenses? The One, Big, Beautiful Bill Act reinstates the immediate deduction for research ...
“Ordinary and necessary” business expense tax deductions are allowed when carrying on an active trade or business. In one case, a taxpayer engaged in r...
Including a letter of instruction in your estate plan is a simple yet powerful way to communicate your personal wishes to your family and executor outside ...
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 M...
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 ...
The One, Big, Beautiful Bill Act (OBBBA) makes changes to two types of student loan debt. Forgiven student loan debt generally is treated as taxable income...
If you receive Premium Tax Credits (PTCs) under the Affordable Care Act, be aware that the One, Big, Beautiful Bill Act makes some significant changes to t...
A new Treasury Inspector General for Tax Administration (TIGTA) report says that IRS audits of high-income taxpayers and partnerships increased from fiscal...
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 worker...