Expanded Tax Credits Under ARPA Cut U.S. Child Poverty Nearly in Half!
The American Rescue Plan Act (ARPA) of 2021 temporarily expanded the Child Tax Credit. For that year, low-income families were given...
IRS to Phase Out Paper Tax Refund Checks Starting Sept. 30, 2025!
The IRS reminded taxpayers that paper tax refund checks for individuals will be phased out beginning Sept. 30, 2025. The tax agency will...
When a Business Looks Like a Hobby: Tax Court Disallows Ranch Losses!
Taxpayers who are in business to make a profit can generally deduct related expenses. The burden of proving a profit motive is on the...
IRS Issues New 2025–2026 Per Diem Rates Effective Oct. 1
The IRS has released new 2025–2026 special per diem rates for ordinary and necessary business expenses incurred when traveling away from...
OBBBA Expands Low-Income Housing Tax Credit: Permanent Boost for Affordable Housing!
One tax provision made permanent by the One Big Beautiful Bill Act (OBBBA) is the availability of the Low-Income Housing Tax Credit...
Treasury Updates IRS Modernization Efforts: Digital Services, Cybersecurity, and Efficiency Gains!
On Sept. 22, 2025, the U.S. Treasury Dept. updated the public on its IRS IT modernization initiatives. The goals are to improve taxpayer...
IRS Extends Tax Relief for Drought-Related Livestock Sales！
The IRS is providing tax relief to farmers and ranchers in applicable states and regions who sold or exchanged livestock because of...
Don’t Overlook the Kiddie Tax in Your 2025 Year-End Planning！
As the fall season begins, thoughts turn to year-end tax planning. An overlooked area of the tax code is the “kiddie tax.” It generally...
Rethink Your Year-End Giving: Tax Law Changes Make 2025 Donations More Valuable!
The last quarter of 2025 is nearly here. It’s a time when many people determine their year-end charitable donation strategy. In light of...
New IRS Guidance: Up to $25K Tax Deduction for Workers Who Earn Tips!
IRS guidance is now available for the new tax deduction for workers who earn tips. The proposed regulations identify eight categories of...
