Starting 2025: Adoption Credit Gets Refundable Boost Under New Law!
Adopting a child is expensive, but adoptive parents may qualify for a tax break to offset some of the costs. Under the One, Big,...
Tax Court Rules $1.8M Settlement Is Taxable: Emotional Distress Claim Denied!
Federal law generally defines gross income as income from all sources. This includes income from settlements unless excluded by law, such...
House Bill Slashes IRS Budget by $2.89B, Tightens Oversight on E-Filing and Free Speech！
Congressional Republicans have already clawed back more than $40 million in Inflation Reduction Act funding to the IRS. A newly approved...
New Tax Break Boosts Startup Investors: $15M Gains Now Tax-Free in Just 4 Years!
A tax break in the One, Big, Beautiful Bill Act is a boon for founders of successful startup businesses. Before the new law, the...
From 1778 to Today: Celebrating Whistleblowers Who Keep the IRS Honest!
July 30 is National Whistleblower Appreciation Day. According to the IRS, whistleblowers have played an important role in its efforts to...
Trump, EU Seal New Trade Pact: 15% Tariff Replaces 30% Threat in Global Shake-Up!
President Donald Trump and European Commission President Ursula von der Leyen announced a “framework” trade agreement that imposes a 15%...
Turn Clutter Into Tax Deductions This Summer!
If your summer chore list includes cleaning out the garage and closets, you might have items to donate to a local charity. That may lead...
Paper Checks Ending Soon – Don’t Miss Your Money!
If you still receive federal payments by paper check, you may need to take certain steps soon. Starting Sept. 30, 2025, the federal...
IRS to Retire FIRE System—Get Ready for the Switch to IRIS!
The IRS has announced it will soon retire its Filing Information Returns Electronically (FIRE) system. FIRE is used primarily by small...
OBBBA Supercharges 529 Plans: Bigger Limits, More Tax-Free Uses!
The One, Big, Beautiful Bill Act (OBBBA) contains enhancements to Section 529 plans. The new law expands the list of educational expenses...
