Trump Pulls IRS Chief Counsel Nominee After Backlash Over Democrat Ties
President Trump has withdrawn his nomination of Donald Korb as the IRS’ top lawyer ahead of his scheduled confirmation vote. Although the …
Changes Ahead for Taxpayers with Discharged Student Loan Debt
A Biden-era tax exclusion for certain student loan discharges is set to expire at year-end, causing discharged balances to be …
Tax Pros Urge Caution in 2025 Overtime Reporting
The new federal overtime deduction – adopted midyear but effective for qualified overtime earned beginning January 1, 2025 – has …
Corporate Alternative Minimum Tax Guidance: What We Know So Far
In a November 6 webcast, a panel of Ernst & Young (EY) tax professionals analyzed the suite of interim IRS …
New ACA Premium Tax Credit Options Floated
The Senate has advanced a package to end the shutdown – with House consideration expected today. The package, however, holds …
How the OBBB Impacts Year-End Charitable Giving
The One Big Beautiful Bill Act (OBBB) makes several changes to the charitable deduction beginning in 2026, including introducing new …
IRS Updates Shutdown Contingency Plan
The IRS quietly updated its lapsed funding contingency plan, slightly boosting the number of staff working during the shutdown. The …
Former IRS Commissioner Shares Concerns for Upcoming Tax Season
With the start of the next tax filing season just months away, former IRS Commissioner Danny Werfel expressed concern over …
Prepping for Mandatory Roth Catch-up Contributions Next Year
A tax planning expert advises that high-income taxpayers aged 50 and above should view the upcoming mandatory Roth catch-up contribution …
Estimated Impact of ACA Premium Tax Credit Expiration
Enhanced Affordable Care Act premium tax credits (PTCs) are set to expire at the end of 2025, and without congressional …