Recent Articles
When Is Business Property “Placed in Service”? Key Depreciation Deduction Timing
Navigate Complex Depreciation Rules, Including Yacht Chartering Specifics Understanding when business property is considered “placed in service” is crucial for accurate tax planning and claiming depreciation deductions. This timing can be particularly nuanced in unique business scenarios, such as the...
Mastering State Unemployment Insurance (SUI) and State Income Tax (SIT): A Payroll Pro’s Guide
Ensure Compliance, Avoid Penalties, and Become a Trusted Payroll Expert For accounting professionals managing clients with operations across multiple states, staying current with state-level payroll tax responsibilities is paramount. State Unemployment Insurance (SUI) and State Income Tax (SIT) are two...
Trump’s IRS Nominee Billy Long Faces Scrutiny Over Campaign Funds and Donor Ties
Acting Commissioner Faulkender Steps In Amid Questions Over Long’s Financial Disclosures Billy Long, President Trump’s nominee to lead the Internal Revenue Service (IRS), is under increased scrutiny following disclosures that he used recent campaign donations to repay a personal loan...
Trump Administration to End IRS Direct File Program After 2025 Tax Season
Free Filing System Faces Shutdown Despite Expansion, Citing Budget and Private Sector Concerns Despite a recent expansion to 23 states, the IRS Direct File program, a free tax filing service, is expected to be discontinued after the 2025 tax season....
IRS Extends Tax Deadlines for Tennessee and Arkansas Storm Victims
Residents and Businesses Get Until November 3, 2025, to File and Pay After Severe Weather Updated April 21, 2025 – The Internal Revenue Service (IRS) has announced extended federal tax deadlines for all individuals and businesses in Tennessee and Arkansas...
Tax Season Uncovers Obamacare Fraud, Fueling Health Policy Concerns
Fraudulent ACA Enrollments Stall Tax Refunds, Spark Debate Over Coverage Access As Americans completed their tax filings this week, many encountered unexpected tax bills linked to unauthorized Affordable Care Act (ACA) enrollments. Fraudulent sign-ups or unrequested plan switches by rogue...