Bloomberg Tax Projects Higher 2027 Tax Brackets, 401(k) Limits With Inflation Adjustment
Projections point to higher 2027 tax brackets, standard deductions, and workplace retirement-plan limits, while federal income-tax rates remain…
IRS Revises Voluntary Disclosure Program as Jarod Koopman Eyes 120-Day Resolution Target
The IRS plans to revise its Voluntary Disclosure Program, aiming to resolve cases within 120 days after complete…
Record Number of State Income Tax Measures Head to Midterms
At a glanceReviewed October 24, 2026 California Proposition 41 or 42 could invalidate Proposition 40 if either wins…
NFIB Backs Initiative 645 to Repeal Washington Income Tax and Avert Small Business Exodus
NFIB is campaigning for Initiative 645, a measure to repeal Washington’s new 9.9% tax on annual earnings above…
0% Capital Gains Bracket: 2026 Thresholds in Revenue Procedure 2025-32
The 2026 0% Capital Gains Bracket reaches taxable income of $49,450 for single filers and $98,900 for joint…
Crypto Tax on Unrealized Gain: What Form 1040 Filers Must Know
An increase in cryptocurrency’s value generally is not taxable while the asset remains unsold. Disposals such as sales,…
IRS Revises Employee Plans Compliance Resolution System and IRA Compliance Resolution System Under Revenue Procedure 2026-34
The IRS has updated its employee-plan correction system and created a separate voluntary program for certain IRA errors.…
Aaron Carter’s Estate Owes Nearly $500K in Tax Debt to the Internal Revenue Service
The IRS is seeking $461,253.54 from Aaron Carter’s estate for taxes, interest, and penalties. The estate was found…
S. 5215 Cleaner Transportation Access Act Heads to Finance Committee
S. 5215 proposes restoring and extending certain clean-transportation incentives through 2031. It would cover eligible used and new…
New State Law Increases Personal Income Tax Credit for Volunteer Firefighters and Ambulance Workers
New York has quadrupled the annual state income-tax credit for eligible volunteer firefighters and ambulance workers, starting with…
IRS Advisory Council’s 2025 Annual Report Urges Administrative Improvements as Frank J. Bisignano Weighs in
The IRS Advisory Council’s 2025 report presents recommendations on 29 tax-administration issues, not new tax rules. It urges…
Duncan John Macdonald and Sarah Duren Among Four Texans Indicted in $1.5 Billion Tax Shelter Scheme
Four Texans were indicted over an alleged trust-based tax shelter that prosecutors say concealed more than $1.5 billion…
IRS Issues Q/A-15 Guidance on Tax-Free Reimbursements of Wearable Devices
The IRS says wearable devices are not automatically eligible for reimbursement just because they track health information. A…
Balderson Announces IRS Tax Relief for Ohio Storm Victims Ahead of Feb. 1, 2027
The IRS postponed certain tax deadlines to Feb. 1, 2027, for people and businesses affected by storms and…