Taxpayer Receipt of Staking Rewards
Background On 6/4/26, the U.S. Tax Court held that cryptocurrency staking rewards received by a taxpayer were includible in gross …
Thomson Reuters Tax & Accounting News
Maryland amends local urban agricultural property tax credit
By Carlton Huntley, JD, LLM, Checkpoint News Maryland Governor Wes Moore signed legislation that changes the eligibility criteria and procedures …
Scholarship groups should prepare for compliance now, tax pro says
Organizations hoping to receive contributions that qualify for the new federal scholarship tax credit should build their compliance systems now …
California business owner pleads guilty to evading $6.7 million in taxes
A California business owner pleaded guilty to federal tax evasion after hiding millions of dollars in income from marketing sham …
Rule on credit, debit card payment of tax finalized
The IRS has finalized a rule that allows it to directly accept tax payments via credit and debit card without …
Big Four urge SEC to approve PCAOB’s QC standard rollback; investors push back
Big Four accounting firms in comment letters urged the Securities and Exchange Commission (SEC) to approve the Public Company Accounting …
IRS suspends dyed diesel penalties following executive order
The IRS announced nationwide relief from highway excise tax penalties for dyed diesel fuel, acting in response to an October …
New IRS Medical Expenses FAQ Addresses Wearable Devices
Frequently Asked Questions About Medical Expenses Related to Nutrition, Wellness, and General Health, Q/A-15 (added Sept. 23, 2026) Available at …
Tax pros gauge midterm elections’ impact on policy outlook
The 2026 midterm elections will determine whether Congress moves tax legislation in the lame-duck session or the next Congress, and …
SEC proposes fund cross-trading changes tied to level 2 fair value inputs
The Securities and Exchange Commission (SEC) has proposed rule changes that would allow registered investment funds to cross trade securities …
As payroll knowledge walks out the door, is informal training enough?
Payroll departments have long depended on experienced professionals who know more than how to push the right buttons. They know …
Bill would allow larger HSA contributions for new parents
The Savings for Tomorrow’s Opportunities, Raising Kids (STORK) Act, would allow families to contribute an additional $2,000 to a Health …
District of Columbia 2027 budget support legislation becomes law
By Denis Del Bene, JD, LL.M., Checkpoint News The “Fiscal Year 2027 Budget Support Act of 2026,” which was sent …