Federal Tax Updates

The End of Paper Refund Checks—and What It Means for Filing Season Prep

The IRS is eliminating paper refund checks, shifting refunds and payments fully toward electronic methods. This change has important implications for filing season preparation, client intake, and payment planning. Learn what tax professionals should address now to help prevent delays once returns are filed.

OBBBA Update: Qualified Tips and Overtime Compensation for Tax Year 2025

The One Big Beautiful Bill Act (OBBBA), enacted as Public Law 119-21, introduced two new deductions for tax years 2025 through 2028: qualified tips and qualified overtime compensation. This article outlines eligibility rules, phase-outs, substantiation requirements, and practical considerations for tax practitioners as they prepare clients for the year ahead.

Public Law 86-272 and Nexus: What Happened to the House OBBBA Provision?

Learn what happened to the House OBBBA provision affecting Public Law 86-272 and state tax nexus rules. Tax expert Annette Nellen explains the implications for multistate businesses in this reprinted article and upcoming webinar.

OBBBA Update: Preliminary job list for the “no tax on tips” provision and the new Schedule 1-A

The U.S. Treasury Department, in coordination with the IRS released the preliminary list of occupations eligible for the no tax on tips provision under HR 1, PL 119-21, commonly known…

One Big Beautiful Bill Implements Significant Tax Package

Explore key provisions of the newly signed “One Big Beautiful Bill,” including permanent tax rate extensions, expanded SALT deductions, new “Trump Accounts,” and more. A must-read for tax professionals navigating 2025 changes.

BOI Reporting Updates

3/21/25 Update: FinCEN announced March 21 that, in line with the Treasury Department’s March 2, 2025, update, they’re issuing an interim final rule that removes the requirement for U.S. companies…