Recent Articles
📘 IRS Eases Accounting Method Change Rules
🔄 Rev. Proc. 2025-23 | Effective June 9, 2025 ✉️ Issued in: Internal Revenue Bulletin 2025-24🧾 Applies to: Forms 3115 (Change in Accounting Method)🗓️ Effective for tax years ending on or after: October 31, 2024 🧩 What’s Changed and Why...
🧾 Supreme Court: Wisconsin Violated Religious Freedom in Tax Exemption Denial
📅 Decision Date: June 5, 2025🏛️ Case: Catholic Charities Bureau, Inc. v. Wisconsin Labor & Industry Review Commission, No. 24-154 👩⚖️ Opinion by: Justice Sonia Sotomayor (Unanimous Decision) 🧩 Background: What Sparked the Case? Catholic Charities Bureau (CCB), the social...
The U.S. Senate unanimously passed the No Tax on Tips Act (S. 129) on May 20
Background In a bipartisan surprise move, the U.S. Senate unanimously passed the No Tax on Tips Act (S. 129) on May 20. Originally introduced by Senator Ted Cruz (R-TX), the bill reflects a policy championed by former President Donald Trump...
Congress Targets Wall Street’s Favorite Tax Break: Carried Interest Could Be History
THESE PROVISIONS WERE INITIALLY DISCUSSED AS PART OF THE BILL BUT DID NOT MAKE ITS FINAL VERSION THAT PASSED THE HOUSE, PROVIDED HERE FOR REFERENCES OF WHAT COULD HAVE HAPPENED A major tax overhaul is gaining traction in Congress—and it’s...
🧾 IRS Simplifies Corporate Minimum Tax Rules for 2025
📢 Interim Guidance Aims to Cut Compliance Costs Issued via IRS Notice 2025-27 on June 2, 2025 🏢 What is the CAMT? 💼 Corporate Alternative Minimum Tax (“Book Minimum Tax”) 🔍 Purpose: To ensure large, profitable corporations pay at least...
🧾 Hidden in Plain Sight: A New Federal Proposal Could Shield Businesses from State Taxes
A Strategic Look at the House’s “Big Beautiful Bill” and Its Impact on State Income Tax Rules 🗓️ As advanced to the U.S. Senate on May 22 | 🔍 Public Understanding Edition 📌 The Big Picture A quietly placed provision...