Potential Opportunities And Benefits To Taxpayers From Recent IRS Cutbacks Introduction Recent budget and staffing reductions at the Internal Revenue Service (IRS), particularly under the Trump administration’s Department of Government Efficiency (DOGE) initiatives in 2025, have reshaped the agency’s operations.…
The GENIUS Act: A New Era for Stablecoin Regulation in the U.S. Introduction On July 18, 2025, President Donald Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, commonly known as the GENIUS Act, into law, marking…
How the IRS is Leveraging Artificial Intelligence to Transform Tax Administration The Internal Revenue Service (IRS) is increasingly harnessing the power of artificial intelligence (AI) to enhance tax administration, streamline operations, and combat tax evasion. With a growing tax gap—estimated…
How Phantom Taxable Income Can Be Created From Gambling Winnings And Losses Under The Big Beautiful Bill Act The One Big Beautiful Bill Act (OBBBA), signed into law by President Donald Trump on July 4, 2025, has introduced significant changes…
How the Recent Version of The One Big Beautiful Bill Will Impact Not For Profits The One Big Beautiful Bill Act (OBBBA), signed into law by President Donald Trump on July 4, 2025, represents a sweeping piece of tax and…
How the One Big Beautiful Bill Impacts Qualified Small Business Stock Under IRS Code Section 1202 The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, introduces significant changes to the U.S. tax code, including notable…
How the One Big Beautiful Bill Impacts Research and Development Costs The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, significantly impacts research and development (R&D) costs by reinstating and expanding tax incentives aimed at…
How Does PTET Change Under The One Big Beautiful Bill Act? The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, significantly impacts the Pass-Through Entity Tax (PTET) provisions, particularly in relation to the State and…
Key Tax Components Featured In The One Big Beautiful Bill Below are the key tax components featured in the One Big Beautiful Bill: Permanence and Extension of Tax Cuts and Jobs Act Provisions The following business provisions would become permanent:…
Proposed Senate Revisions to Qualified Small Business Stock Exclusion Under IRS Code Section 1202 Section 1202 of the Internal Revenue Code provides significant tax benefits for investors in Qualified Small Business Stock (QSBS), allowing partial or full exclusion of capital…