Learn about the series of payroll-related changes that are taking effect under the One Big Beautiful Bill Act (OBBBA), beginning in 2025. The law introduces new tax deductions for tips and overtime pay, and it adjusts the reporting thresholds for issuing 1099 forms.
On July 1, several tax changes took effect under the Budget Reconciliation and Financing Act of 2025, a 200-page law signed by Governor Wes Moore on May 20. Learn more about the major Maryland tax updates.
Learn how the recently passed One Big Beautiful Bill Act (OBBBA) tax changes may impact your personal or business planning with this comparison chart.
What’s in the One Big Beautiful Bill? Signed into law on July 4, 2025, this sweeping legislation includes more than 100 tax provisions. It builds on the Tax Cuts and Jobs Act (TCJA), modifying and in some cases permanently extending key provisions. The bill aims to update the tax code, stimulate business investment, and introduce new benefits for individual taxpayers. It also accelerates the phaseout of several clean energy incentives.
IRS grants disaster relief to taxpayers located in certain Florida counties. Affected taxpayers have until May 1, 2025, to file returns and make payments.
The IRS took action quickly after Hurricane Helene traveled 400+ miles, claiming lives and wreaking havoc in the Southeast. Learn about the important information regarding deadline extension and penalty relief.
Taxpayers impacted by Hurricane Debby in South Carolina, North Carolina, Florida, and Georgia now have until February 3, 2025 to make certain tax payments and file various tax returns, including 2023 individual and business tax returns currently on extension.
The IRS has announced tax relief measures for individuals and businesses in 67 Texas counties affected by Hurricane Beryl. Taxpayers in these counties now have an extended deadline until February 3, 2025, to file various federal individual and business tax returns and to make any necessary tax payments.
Biden administration's budget proposal includes items affecting donor advised funds and private foundations.
The IRS launched the Employee Retention Credit Voluntary Disclosure Program (ERC-VDP), providing an opportunity for employers to correct mistaken Employee Retention Credit (ERC) claims penalty-free, with submissions due by March 22, 2024.
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