State and Local Taxes June 16, 2025
The Senate Finance Committee Monday rolled back the SALT deduction cap to $10,000 in its first draft of President Trump's sprawling budget bill, a dramatic reversal from the $40,000 that was negotiated in the House last month.
June 16, 2025
June 16, 2025
State and Local Taxes June 16, 2025
The Senate Finance Committee Monday rolled back the SALT deduction cap to $10,000 in its first draft of President Trump's sprawling budget bill, a dramatic reversal from the $40,000 that was negotiated in the House last month.
Taxes June 16, 2025
The “big, beautiful” tax bill that’s currently winding its way through Congress would, if it becomes law, lead to drastically different results for U.S. taxpayers, depending on where you fall on the income spectrum.
Taxes June 16, 2025
State CPA societies across the country are expressing their strong opposition to a provision in the One Big Beautiful Bill Act which would eliminate the ability of specified service trades or businesses (SSTBs) to deduct state and local taxes (SALT) at the entity level.
IRS June 16, 2025
Probationary employees' jobs were in limbo for weeks. Meanwhile, many IRS workers across the agency are looking to leave.
Technology June 16, 2025
TaxPlanIQ, a provider of tax planning software for tax and accounting firms, has launched several new features designed to make tax planning more efficient and scalable.
Technology June 16, 2025
Taxfyle on Monday introduced TXF Intelligence, a generative artificial intelligence tool built to automate and streamline tax return preparation for small tax and accounting firms in the U.S.
Small Business June 13, 2025
President Donald Trump’s trade war is affecting Americans from buying groceries to paying electric bills, with the cost of bananas, ground beef, and electricity surging to all-time highs.
Taxes June 13, 2025
The lawyer who represented adult film star Stormy Daniels in her court battles against President Donald Trump, was resentenced June 12 to 11 years in prison for dodging taxes and stealing millions of dollars from clients.
IRS June 12, 2025
The former Missouri lawmaker won confirmation on June 12 to be the next commissioner of the IRS, leading an agency that will play a key role in administering new tax breaks if Congress passes the “big, beautiful” reconciliation package.
Taxes June 12, 2025
The reconciliation bill passed by the House would most benefit high earners and reduce financial resources available to the lowest-income households, the Congressional Budget Office said on June 12.
IRS June 12, 2025
A coalition representing tax professionals urged the Treasury Department in a letter to take immediate steps to preserve core IRS functions—for both taxpayers and practitioners—amid workforce reductions at the tax agency.
Taxes June 12, 2025
The Treasury Department is considering changing rules to revoke tax-exempt status for colleges that consider race in student admissions, scholarships, and other areas.