IRS Finalizes Regs on Tribal Entity Tax Status, General Welfare Benefits
The IRS has issued two sets of final regs addressing the federal tax treatment of entities wholly owned by Indian …
Thomson Reuters Tax & Accounting News
What OBBB Means for Your Clients’ Itemized Deductions
By Hilari Pickett, CPA, a Senior Specialist Editor with Thomson Reuters Tax & Accounting The 2025 Act (also referred to …
House Committee Advances Additional Tax Administration Measures
The House Ways and Means Committee advanced two tax administration bills Wednesday evening aimed at improving the taxpayer experience. One …
Dems Press Treasury on Retroactive R&E Expensing ‘Loophole’
Nine congressional Democrats urged Treasury leaders not to establish a Corporate Alternative Minimum Tax carveout for companies that accelerate their …
IRS Guidance on Trump Accounts Addresses Cafeteria Plans and Employer Contributions, Announces Regulations on the Way
IRS Notice 2025-68 (Dec. 2, 2025); IRS News Release IR-2025-117 (Dec. 2, 2025) Notice News Release The IRS has announced …
Tax Experts on OBBBA Changes to Opportunity Zones
Recent Baker Tilly year-end tax webinars highlighted sweeping changes to the Opportunity Zone program under the One Big Beautiful Bill …
SEC Chief Accountant Unveils Ambitious Agenda for Audit Oversight, Standard Setting
At a year-end AICPA conference, Securities and Exchange Commission (SEC) Chief Accountant Kurt Hohl outlined an ambitious agenda for accounting …
SEC Chair Criticizes Accounting Firms for Pushing Rules Driven by ‘Self-Interest’
At a conference, Securities and Exchange Commission (SEC) Chairman Paul Atkins strongly criticized accounting firms for having pressured the commission …
Michigan Issues Additional Guidance on Wholesale Tax on Adult-Use Marihuana
By Peter G. Pupke, Esq., Checkpoint News The Michigan Department of Treasury has issued additional guidance on the state’s new …
Bipartisan Group Pushes for Work Credit Extension, Enhancement
The Work Opportunity Tax Credit (WOTC) – aimed at helping transition certain groups back into the workforce – is set …
Protecting Digital Fortunes – Planning for a Digital Asset Legacy
By Nikki Sohal, CPA December 10, 2025 The rise of digital assets like cryptocurrencies and Non-Fungible Tokens (NFTs) is profoundly …
Guidance on OBBB International Tax Provisions Released
The IRS has released three notices addressing changes under the One Big Beautiful Bill Act (OBBB) impacting international taxation. (Notice …
OBBB Enhancements to Qualified Small Business Stock Rules
The One Big Beautiful Bill Act (OBBB) enhanced the federal tax exclusion for certain gain from qualified small business stock …