Tax Update Blog

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Tax News & Views will help you stay informed with what's happening in the tax world. Whether it's a new tax law tacked on to a spending bill, a new court case that reminds us of venerable tax lessons, or a surprising approach by states to tax non-residents, it's fair game.

We will cover tax issues impacting middle-market, closely-held businesses and their owners, as well as how tax affects your nonprofit or government entity. View our latest blog posts below or subscribe to stay informed.

Latest Posts

February 24, 2021
Blog
IRS says it's sticking with April 15 deadline. IRS mistakes rile taxwriters. Some states eye high earners as tax target. Corporate rate increases and competiveness. The weird tax science of credit card rebates. Raisins!
February 24, 2021
Blog
The House Rules Committee has announced that it will hold a hearing Friday on the COVID-19 “rescue” bill to prepare it for debate on the House floor. Full house may vote passage the same day.
February 23, 2021
Blog
Texas filers get reprieve to June 15. COVID rescue bill races through House. Does your state tax PPP loan forgiveness? Washington State and COVID aid. 1099 dilemmas. Margaritas. Dog Biscuit Day!
February 23, 2021
Blog
Treasury Secretary Janet Yellen on Monday cast doubt on enacting a wealth tax, saying that President Biden does not support it.
February 23, 2021
Blog
Extension applies to all returns due starting February 11. Among the returns automatically extended are farmer 1040s due March 1, calendar-year partnerships, S corporations, 1120 returns, and 1040 filings.
February 22, 2021
Blog
IRS mails 260,000 failure-to-file notices, many of which are wrong. IRS says all stimulus payments have been sent. All parties pleased with remote tax court hearings thus far. Camels disqualified from beauty pageant over Botox injections.
February 22, 2021
Blog
The House Budget Committee on Monday voted 19-16 to approve the $1.9 trillion rescue plan. The House chamber is expected to pass the bill later this week.
February 19, 2021
Blog
Calls for extending deadline grow. How red states and blue states faired in 2020 revenues. Rich? The auditors may be coming more often. French bakers seek recognition from UNESCO.
February 19, 2021
Blog
The House Budget Committee on Friday released the legislative text for the COVID-19 rescue bill that President Joe Biden hopes to sign into law by mid-March. The Committee will debate the bill on Monday.
February 18, 2021
Blog
Tax Court again nixes deductions for legal Cannabis businesses. Beware state W-2 amounts. Should you wait to file? Ghost preparers. Spooky sales tax exposure. April 15 still the deadline? National Wine Day.
February 18, 2021
Blog
The tax-writing House Ways and Means Oversight Subcommittee asked witnesses testifying before the panel if the April 15, 2021, tax filing deadline should be extended as COVID-19 continues to challenge tax preparation industry. The witnesses …
February 17, 2021
Blog
Montana taxes COVID refugees. Does your state? Home office deductions and utilities. Poor hit by slow IRS processing of mail. Will SALT cap workarounds backfire? Of cabbages and kindness.

Stay informed!