Focus: Bonus Depreciation On July 4, 2025 President Donald J. Trump signed into law H.R.1 - One Big Beautiful Bill Act (“OBBBA”). The OBBBA contains hundreds of provisions including permanently extending the individual tax rates Trump signed into law in 2017, which...
At midnight on October 1, 2025, funding for Federal government agencies lapsed triggering a partial shutdown of the federal government. The date when funding will be restored by Congress has not been established but under plans established by each Federal agency, as...
Focus: Increase In Unified Credit (Estate & Gift Tax) On July 4, 2025 President Donald J. Trump signed into law H.R.1 - One Big Beautiful Bill Act (“OBBBA”). The OBBBA contains hundreds of provisions including permanently extending the individual tax rates Trump...
Treasury Secretary Bessent Taps Frank Bisignano As “IRS CEO” To Head The Agency On October 6, 2025,U.S. Secretary of the Treasury and Acting Commissioner of the Internal Revenue Service Scott Bessent announced that Commissioner of the Social Security Administration...
At midnight on October 1, 2025, funding for Federal government agencies lapsed triggering a partial shutdown of the federal government. The date when funding will be restored by Congress has not been established but under plans established by each Federal agency, as...
Due dates for eligible returns and payments postponed to September 30, 2026. On September 30, 2025 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by the ongoing conflict in the State of Israel. These taxpayers now have...
The U.S. Tax Court’s recent decision in Ayla A. Savage v. Commissioner (165 T.C. No. 5, September 11, 2025) delivers a setback to cannabis businesses, by shutting them out of tax benefits available to other industries. The Tax Court’s ruling demonstrates how Section...
The California Department Of Tax And Fee Administration (CDTFA) which oversees the reporting and collection of taxes for the California cannabis, in consultation with the Department Of Finance, is required by law to adjust the cannabis excise tax rate for the 2025-26...
Focus: Deduction For Tips From Income Tax On July 4, 2025 President Donald J. Trump signed into law H.R.1 - One Big Beautiful Bill Act (“OBBBA”). OBBBA contains hundreds of provisions including permanently extending the individual tax rates Trump signed into law in...
On August 27, 2025 the Treasury Inspector General for Tax Administration issued a report that looked at a lesser-known pandemic relief provision that allowed employers and self-employed individuals to defer Social Security tax payments during the pandemic. That report...
