The One Big Beautiful Bill Act hiked and enshrined some tax savings for parents into permanent law, but its many provisions will play out differently across financial advisors’ client households. President Donald Trump’s July 2025 megalaw will primarily affect families’ payments to Uncle Sam through its extension of the federal
The well-oiled firm; refundable credits in states; taxing settlement money; and other highlights from our favorite tax bloggers. Read my tips The Wandering Tax Pro (http://wanderingtaxpro.blogspot.com/): How “No Tax on Tips” is misleading. Tax Vox (https://www.taxpolicycenter.org/taxvox): Some taxpayers will be able to deduct gratuities received this year. Except Congress has largely punted
Doeren Mayhew, a Top 50 Firm based in Troy, Michigan, has expanded to the greater Atlanta region with the addition of AGL CPA Group, in Duluth, Georgia, effective July 16. AGL brings more than 20 employees to Doeren Mayhew. Jay Robbins will act as the managing principal in the region,
President Donald Trump said he is considering sending rebate checks to Americans using revenue from tariff increases his administration is imposing on U.S. trading partners. “We’re thinking about that actually — we have so much money coming in, we’re thinking about a little rebate,” Trump told reporters on Friday at
The Treasury Department is reportedly mulling plans for the Internal Revenue Service to eliminate its multilingual services, such as tax forms and assistance in languages other than English. The Washington Post reported that the move would be in compliance with an executive order from President Trump in March designating English
Vena, an FP&A platform powered by agentic AI, has been named an Overall Leader in both the Customer Experience and Vendor Credibility models in the 2025 Dresner Wisdom of Crowds Enterprise Performance Management Market Study. Vena was also recognized for delivering high value with low total cost of ownership and
The not-so-great outdoors; spear itself; pain and gain; and other highlights of recent tax cases. Washington City, Utah: Business owner Phyllip Hallman Heaton has been sentenced to five months in prison and 18 months of supervised release (including six months of home detention) after not paying taxes for six years.
The Internal Revenue Service is continuing to shed employees, with over 25% of its workforce now gone since the beginning of the year, according to a new report, and more employees are expected to depart after the Supreme Court cleared the way. The report, released Tuesday by the Treasury Inspector
The Securities and Exchange Commission has tapped George Botic as acting chair of the Public Company Accounting Oversight Board, effective July 23, 2025, after Erica Williams steps down. Williams was asked to resign last week by the new SEC chair Paul Atkins and her last day is Tuesday, July 22.
The Internal Revenue Service is reevaluating how to gauge the more than 150 taxpayer service improvement projects it had been pursuing before staffing and budget cuts this year, according to a new report. The report, released Thursday by the Government Accountability Office, noted that the IRS has struggled to improve