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On April 30, 2026, the Executive Order "Promoting Retirement-Savings Access for American Workers by Establishing TrumpIRA.gov" was signed to address a significant coverage gap in the United States retirement system. For tax professionals, understan...
The enactment of the One, Big, Beautiful Bill Act (OBBBA) introduced Internal Revenue Code (IRC) Section 6435, providing a mechanism for recovering the Section 4081 excise tax paid on diesel fuel or kerosene that subsequently qualifies as exempt under Section 4082(a). Recently...
Following the final order issued by the Department of Justice (DOJ) and the Drug Enforcement Administration (DEA) to reschedule certain marijuana products from Schedule I to Schedule III of the Controlled Substances Act (C...
As tax professionals, staying abreast of statutory changes to the Internal Revenue Code (IRC) is essential for accurate advisory and compliance work. On April 27, 2026, the House of Representatives advanced a suite of nine bipartisan tax administration bills.
The nine bills passed by the House are as follows:
As tax professionals are well aware, when the Internal Revenue Service disallows an Employee Retention Credit (ERC) claim, the taxpayer receives either a Letter 105-C for a full disallowance or a Letter 106-C for a partial disallowance. Upon ...