National Guard Mobilizing Across 19 States to Clean Up Democratic Party’s Alarming Failures. Pentagon officials confirmed to FOX News late Friday that up to 1,700 National Guard troops will mobilize across 19 states from August through mid-November to support the Department of Homeland Security’s “America First” mission, a sweeping crackdown to arrest and deport criminal illegal aliens while restoring law and order in metro areas gutted by rogue Democratic leaders after a decade of disastrous progressive policies that unleashed destructive violent crime waves.
August 24, 2025Conspiracy Theories Revisited
August 25, 2025
Thomson Reuters Tax & Accounting News: AUGUST 25, 2025
Republicans Say AI Could Strengthen Tax Fraud Detection
A group of Republicans on the House’s taxwriting committee are pushing for an examination of how artificial intelligence can be …
August 22, 2025 · 5 minute read
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Chart Summary of Individual Tax Provisions – One Big Beautiful Bill
Practitioner’s Tax Action Bulletin® On 7/4/2025, President Trump signed the One Big Beautiful Bill Act (P.L. 119-21; “the 2025 Act”), …
August 21, 2025 · 1 minute read
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What Happens to Qualified Transportation Plan Balances Upon Termination of Employment?
QUESTION: Our company wants to adopt a qualified transportation plan that would offer employer contributions toward mass transit expenses and …
August 20, 2025 · 5 minute read
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IRS Proposes to Ease Reporting Rules for Partnership Interest Sales
The IRS has proposed regs to delay and revise the reporting requirements for partnership interest exchanges, aiming to address compliance challenges and …
August 20, 2025 · 5 minute read
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E-Verify In 2025: What Employers Need to Know About Federal and State Compliance
E-Verify, the federal electronic employment verification system, continues to be a focal point in U.S. hiring compliance. While federally voluntary …
August 19, 2025 · 5 minute read
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IRS Asks for Help With Combatting Digital Asset Fraud
The IRS is looking for new ways to spot illicit activity in the digital asset space — and it wants …
August 18, 2025 · 5 minute read
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Digital Dollars on the Horizon? FASB Launches Study Amid White House Push for Clarity
The nation’s main accounting rulemaker, the Financial Accounting Standards Board (FASB), has kicked off critical research into how companies will …
August 15, 2025 · 5 minute read
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Direct File Programmers Not Giving Up on Dream of a Cost-Free Tax Season
Though it may seem like the IRS’ free tax filing option available for its first full tax season this year …
August 15, 2025 · 5 minute read
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Stablecoin Payroll Gains Momentum, but IRS Rules Pose Compliance Challenges
Startups in the Web3 and decentralized finance (DeFi) sectors are increasingly turning to stablecoins like USDC and USDT for payroll, …
August 14, 2025 · 5 minute read
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Self-Reporting Misconduct Can Be Beneficial for Practitioners, OPR Says
Tax practitioners who self-report Circular 230 violations may avoid harsher sanctions and qualify for favorable settlements, the IRS’ Office of …
August 14, 2025 · 5 minute read
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Notice of Proposed Rulemaking: Determination of Line of Business for Purposes of No-Additional-Cost Service and Qualified Employee Discount Fringe Benefits, …
August 13, 2025 · 5 minute read
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CBO Analyzes Distributional Effects of Budget Act
The lowest-income earners will lose an average $1,200 in overall household resources each year resulting from the Act of 2025 …
August 13, 2025 · 5 minute read
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Billy Long Out as IRS Chief After 2 Months
The commissioner carousel at the IRS continues to leave a revolving door atop the agency, as President Trump is moving …
August 12, 2025 · 5 minute read
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Social Security Bill Proposes New Inflation Measure, Tax Changes for High Earners
Senator Mazie Hirono (D-HI) and Representative Jill Tokuda (D-HI) have introduced the Protecting and Preserving Social Security Act to address Social Security’s …
August 11, 2025 · 5 minute read
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CPAs Say IRS Must Clarify Retroactive Research Expense Deductions
The IRS needs to issue guidance clarifying the retroactive provisions of the Act of 2025 (P.L. 119-21) that altered the …
August 8, 2025 · 5 minute read
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Clean Energy Sector Bracing for Credit Phase-outs, Foreign Entity Rules: Tax Pro
One month after the enactment of the tax package formerly known as the One Big Beautiful Bill, clean energy stakeholders …
August 7, 2025 · 5 minute read
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Amid Legislative Push for Crypto in Pensions, New Report Urges States to Enact Prohibitions
As a growing number of U.S. states consider or enact legislation allowing public pension funds to invest in cryptocurrency, a …
August 7, 2025 · 5 minute read
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Nonprofits Oppose New IRS Stance on Church Political Activities
Over 1,500 nonprofits have signed onto a letter urging President Trump and the IRS to maintain a long-standing prohibition on …
August 6, 2025 · 5 minute read
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Will the SEC Replace the Entire PCAOB Board—Again?
Now that the Securities and Exchange Commission (SEC) is seeking candidates to serve as Public Company Accounting Oversight Board (PCAOB) …
August 6, 2025 · 5 minute read
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White House Calls for Digital Asset Tax ‘Fairness’ in New Report
In accordance with a President Trump executive order, the administration’s task force on digital asset policy released its report detailing …
August 5, 2025 · 5 minute read
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SEC Launches AI Task Force to Drive Innovation and Efficiency
The SEC on August 1, 2025, said that it launched an artificial intelligence (AI) task force to spearhead the agency’s …
August 5, 2025 · 5 minute read
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With IRS Cuts, Education on New Tax Act May be an Uphill Battle
IRS Communications and Liaison saw a 44% staffing cut under President Trump, so the tax professional community should be prepared …
August 4, 2025 · 5 minute read
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Accountants Offer Assistance as SEC Drafts Regulatory Framework for Cryptos
In comment letters, the AICPA, the Center for Audit Quality (CAQ), and Big Four firms said that they support the …
August 1, 2025 · 6 minute read
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Average Filing Time to Increase Under New Tax Act, Says Group
The new tax act’s “no tax on” and state and local tax (SALT) deduction provisions will cause taxpayers in all …
August 1, 2025 · 5 minute read
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Concerns Grow as Premium Tax Credit Sunset Looms
The newly passed tax act extended many key expiring provisions – but one thing it didn’t address is enhanced health …
July 31, 2025 · 5 minute read
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What Should We Do If the Post Office Returns a COBRA Election Notice as Undeliverable?
QUESTION: Our company (as plan administrator of our health plan) recently mailed a COBRA election notice by first-class mail, but …
July 30, 2025 · 5 minute read
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Transfer Pricing Enforcement Hampered by IRS Cuts, Executive Says
The IRS’ targeted enforcement campaign gained traction until the agency’s workforce and spending pools began to shrink this year, but …
July 30, 2025 · 5 minute read
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Group Calls for ‘Reimagined Tax System’
Noting the “seismic change” the tax administration system has experienced since President Trump took office, the Tax Law Center at …
July 29, 2025 · 5 minute read
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PayrollOrg Webinar Highlights Need for Local Tax Automation
In a recent PayrollOrg webinar titled “Local Payroll Taxes: The Practical Approach to Reducing Risk,” payroll professionals were given a …
July 29, 2025 · 5 minute read
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By Brian Skornicki, Esq., Checkpoint News On June 30, 2025, the fiscal year 2026 budget bill has been enacted without …
July 29, 2025 · 13 minute read
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Veteran Payroll Educator Warns of Confusion Over New Overtime/Tip Deductions
Following the July 4 enactment of the One Big Beautiful Bill Act (P.L. 119-21), payroll professionals began closely reviewing the …
July 28, 2025 · 7 minute read
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Could the New Senior Deduction Be Swallowed by a Benefit Cut?
As the Social Security Administration touts the new tax act’s senior deduction, which it says will reduce federal taxes for …
July 28, 2025 · 5 minute read
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Tax Act Tweaks International Provisions but Maintains Regime, Say Experts
The July 4th tax act did more than just extend international tax provisions, but experts shared that they view the …
July 25, 2025 · 6 minute read
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SEC Chair Atkins Seeks New PCAOB Candidates, Signals Board Member Salary Cuts for 2026
After forcing PCAOB Chair Erica Williams out, SEC Chair Paul Atkins said he is soliciting candidates for all board member …
July 25, 2025 · 6 minute read
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Payroll Professionals Explore AI for Enhanced Documentation and Efficiency
Payroll professionals recently convened for PayrollOrg’s “Talking Payroll Chat” on July 17, 2025, to delve into the transformative potential of …
July 24, 2025 · 5 minute read
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Digital Asset Expert Reflects on Busy Crypto Week
While Congress advanced several pieces of legislation relating to the regulation and treatment of digital assets during its so-called crypto …
July 24, 2025 · 5 minute read
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IRS Announces Increases for 2026 ACA Employer Shared Responsibility Penalties
Rev. Proc. 2025-26 (July 22, 2025) Available at https://www.irs.gov/pub/irs-drop/rp-25-26.pdf The IRS has announced 2026 indexing adjustments to the applicable dollar amount used to calculate …
July 23, 2025 · 5 minute read
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After the Massive Tax Package, What’s Next for Congress?
Congressional Republicans surprised many policy experts by getting their tax and spending package (H.R. 1) across the finish line by …
July 23, 2025 · 6 minute read
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Tax Pros Discuss Key Tax Act Partnership Provisions
Gibson Dunn Partners Eric Sloan and Matt Donnelly in an interview with Checkpoint touched on recently enacted tax provisions favorable …
July 23, 2025 · 5 minute read
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After Williams’ Exit, SEC Taps Botic to Lead PCAOB Temporarily
Following the ouster of Erica Williams as chair of the Public Company Accounting Oversight Board (PCAOB), the Securities and Exchange Commission (SEC) …
July 23, 2025 · 5 minute read
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IRS Tells 525,000 Federal Employees to Pay Tax Bills, Or Else
Hundreds of thousands of current and retired federal employees recently received a new wave of IRS notices prompting urgent resolution …
July 22, 2025 · 5 minute read
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By Rebecca Helmes, Checkpoint News The Oklahoma Tax Commission adopted amended regulations, effective July 15, 2025, related to the state’s …
July 22, 2025 · 6 minute read
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FIRE System Will Retire by Tax Year 2026, Says IRS
The IRS has announced that the Filing Information Returns Electronically (FIRE) system will be retired for the tax year 2026, …
July 22, 2025 · 5 minute read
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IRS Obtained Proper Penalty Approval in Easement Case, Court Finds
The IRS met the supervisory approval requirements when it assessed penalties against Sand Valley after disallowing the company’s $35.38 million …
July 21, 2025 · 5 minute read
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IRS Makes a Move on Cloud Transaction Sourcing Rule
In a year marked by regulatory rollback and uncertainty, the IRS proceeded with a planned rulemaking hearing July 17 on …
July 18, 2025 · 6 minute read
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Payroll Data Takes Center Stage as Strategic Asset at PayrollOrg’s 2025 Virtual Congress
At a workshop held on July 9 during PayrollOrg’s annual Virtual Congress, payroll professionals and employers were urged to recognize …
July 17, 2025 · 5 minute read
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House Taxwriters Mull Future of Digital Asset Tax Policy
Correction, 7/18/2025: This article has been updated to correct a misattributed in the second to last paragraph. A previous version …
July 17, 2025 · 6 minute read
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Beyond The Deadline – Key Areas of Focus Following Tax Busy Season
Mary Lundstedt, Checkpoint News Background After tax season, prioritize rest and personal time to recharge. Then, tackle essential non-technical tasks …
July 16, 2025 · 9 minute read
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Is Employer-Provided Work Clothing a Taxable Benefit?
QUESTION: Our company is going to require some customer-facing employees to wear a uniform, which the company will provide without …
July 16, 2025 · 5 minute read
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