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08.07.25
The OBBBA Will Soon Modify or Eliminate Certain Clean Energy Tax Incentives
As part of recent legislative changes, several clean energy tax incentives established or expanded by the Inflation Reduction Act (IRA) are being modified or phased out with the passage of the One, Big, Beautiful Bill Act (OBBBA). Below is an overview of the adjustments and eliminations affecting both individuals and businesses regarding clean energy tax incentives under the OBBBA.
08.06.25
What Taxpayers Need to Know About the IRS Ending Paper Checks
The federal government has announced a major change that will affect how numerous Americans receive their tax refunds and federal benefit payments. The U.S. Treasury Department, the IRS and the Social Security Administration (SSA) will soon stop issuing paper checks. This transition is designed to increase efficiency, reduce fraud, reduce the occurrence of lost or stolen checks, and lower administrative costs — but it also means that taxpayers must prepare for an all-electronic system.
07.31.25
The OBBBA Shifts the Landscape for Employers
The sweeping budget reconciliation law known as the One Big Beautiful Bill Act (OBBBA) includes numerous provisions affecting employers and their workers. The new tax treatment of tips and overtime have grabbed much of the attention, but changes to employer tax credits — some of them potentially lucrative — also deserve your attention.
07.29.25
The One, Big, Beautiful Bill Act Extends Many Business-Friendly Tax Provisions
The One, Big, Beautiful Bill Act (OBBBA) includes numerous provisions affecting the tax liability of U.S. businesses. For many businesses, the favorable provisions outweigh the unfavorable, but both kinds are likely to impact your tax planning. Here are several provisions included in the new law that may influence your business’s tax liability.
07.23.25
How Will the One, Big, Beautiful Bill Act Affect Individual Taxpayers?
The One, Big, Beautiful Bill Act (OBBBA) includes, among many other things, numerous provisions that can affect an individual’s taxes. The new law makes some changes to existing tax breaks that will be significant to many taxpayers. Read the full Client Alert for details.
07.08.25
President Trump Signs His One, Big, Beautiful Bill Act into Law
On July 4, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). The bill includes extensions of many provisions of the Tax Cuts and Jobs Act (TCJA) as well as new and enhanced tax breaks. Here is a rundown of some of the key changes affecting individual and business taxpayers.
06.05.25
The House Passes The One, Big, Beautiful Bill Act: An Overview of its Tax Provisions
The U.S. House of Representatives passed its sweeping tax and spending bill, dubbed, “The One, Big, Beautiful Bill Act” (OBBBA). The bill includes extensions of many provisions of the Tax Cuts and Jobs Act (TCJA) as well as new and enhanced tax breaks. Here is an overview of the major tax proposals included in the House OBBBA.
05.13.25
IRS Clarifies Theft and Fraud Loss Deductions
The Tax Cuts and Jobs Act (TCJA) significantly limited the types of theft losses that are deductible on federal income taxes. However, a recent “advice memo” (CCA 202511015) from the IRS’s Office of Chief Counsel suggests more victims of fraudulent scams may be able to claim a theft loss deduction than previously understood.
03.21.25
Disaster Victims of the 2025 California Wildfires may Qualify for Tax Relief
The 2025 California wildfires, declared as a major disaster on January 7, 2025, do not fall within FDTRA's definition of a "qualified disaster." However, other potential opportunities are available for those affected by this disaster.
02.11.25
President Trump’s Tax Plan: What Proposals are Being Discussed in Washington?
President Trump and the Republican Congress plan to act swiftly to make broad changes to the United States — including its federal tax system. Congress is already working on legislation that would extend and expand provisions of the sweeping Tax Cuts and Jobs Act (TCJA), as well as incorporate some of Trump’s tax-related campaign promises. To that end, GOP lawmakers in the U.S. House of Representatives have compiled a 50-page document that identifies potential avenues they may take, as well as how much these tax and other fiscal changes would cost or save. This Client Alert is a preview of potential changes that might be on the horizon.
