What to Watch as the Senate Takes Up Trump’s Tax and Spending Bill
With the Senate now considering the One Big Beautiful Bill Act, policy experts expect several hiccups as Republicans work toward …
OPR: How to Request Circular 230 Investigation Records
Practitioners may request information from the Office of Professional Responsibility (OPR) regarding investigations into their potential violations of the document …
IRS Offers ‘Simplified’ Corporate Alternative Minimum Tax Calculation Method
The IRS issued new interim guidance for the corporate alternative minimum tax (CAMT) enacted nearly three years ago in the …
Reconciliation Bill Doesn’t Go Far Enough to Tackle ‘Care Crisis,’ Say Groups
Child care providers and advocates are celebrating a provision in the One Big Beautiful Bill Act (OBBBA, H.R. 1) that would …
Tax Court Again Uses Functional Test to Deem Partners Limited ‘In Name Only’
The Tax Court, following recent precedent, determined that three partnership members were not limited partners based on their day-to-day functions …
CPAs Concerned About SALT, Contingent Fee Provisions in Tax Reform Bill
As congressional Republicans move forward with a reconciliation bill that would extend and revise tax provisions, the American Institute of …
House Budget: Updated Cost, Distributional Estimates
Budget scorers and policy think tanks have weighed in on the budget reconciliation package’s expected impact on the federal deficit …
Treasury, DOGE to Continue IRS Overhaul as Judge Blocks More Agency Downsizing
The head of the Treasury Department and a Department of Government Efficiency (DOGE) associate indicated the collaboration between the two …
SALT Provision Buried in House’s “Big Beautiful Bill” Would Curtail State Income Taxation Under P.L. 86-272
A proposed amendment buried under “Other Matters” in the House reconciliation proposal (the “One Big Beautiful Bill”) that advanced to …
Expert Shares How Tax Reform May Impact the Real Estate Sector
The reconciliation bill that made its way through the House Thursday morning contains a plethora of tax provisions, including several …