Republicans Say AI Could Strengthen Tax Fraud Detection
A group of Republicans on the House’s taxwriting committee are pushing for an examination of how artificial intelligence can be …
Chart Summary of Individual Tax Provisions – One Big Beautiful Bill
Practitioner’s Tax Action Bulletin® On 7/4/2025, President Trump signed the One Big Beautiful Bill Act (P.L. 119-21; “the 2025 Act”), …
IRS Proposes to Ease Reporting Rules for Partnership Interest Sales
The IRS has proposed regs to delay and revise the reporting requirements for partnership interest exchanges, aiming to address compliance challenges and …
Direct File Programmers Not Giving Up on Dream of a Cost-Free Tax Season
Though it may seem like the IRS’ free tax filing option available for its first full tax season this year …
Self-Reporting Misconduct Can Be Beneficial for Practitioners, OPR Says
Tax practitioners who self-report Circular 230 violations may avoid harsher sanctions and qualify for favorable settlements, the IRS’ Office of …
CBO Analyzes Distributional Effects of Budget Act
The lowest-income earners will lose an average $1,200 in overall household resources each year resulting from the Act of 2025 …
Billy Long Out as IRS Chief After 2 Months
The commissioner carousel at the IRS continues to leave a revolving door atop the agency, as President Trump is moving …
Social Security Bill Proposes New Inflation Measure, Tax Changes for High Earners
Senator Mazie Hirono (D-HI) and Representative Jill Tokuda (D-HI) have introduced the Protecting and Preserving Social Security Act to address Social Security’s …
CPAs Say IRS Must Clarify Retroactive Research Expense Deductions
The IRS needs to issue guidance clarifying the retroactive provisions of the Act of 2025 (P.L. 119-21) that altered the …
Clean Energy Sector Bracing for Credit Phase-outs, Foreign Entity Rules: Tax Pro
One month after the enactment of the tax package formerly known as the One Big Beautiful Bill, clean energy stakeholders …