In the summer of 2025 the White House proposed that Congress should consider drafting legislation that would force U.S. residents and companies to report foreign digital asset accounts on their taxes. A digital asset is a digital representation of value that is...
The U.S. Justice Department (“DOJ”) announced on November 17, 2025 that Victor Cruz, age 41, of Bakersfield, California was sentenced to 18 months in prison for participating in a scheme to submit fraudulent individual federal income tax returns that claimed...
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 2017, which were originally set to expire...
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 were originally set to...
If you receive a math error notice from the IRS, it means the agency found a discrepancy on your tax return and automatically corrected it but do not assume that the IRS computers are right. Instead, you should review the notice carefully and respond within 60 days...
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...
