Reminder About Form 1099-DA: Digital Asset Proceeds from Broker Transactions

Beginning in early 2026, individuals who engage in digital asset transactions (including cryptocurrency) during 2025 will begin receiving Form 1099-DA.
One Big Beautiful Bill Act Explained: Major Tax Updates for 2025 and 2026

The One Big Beautiful Bill Act (HR 1), signed into law on July 4, 2025, includes a wide range of tax provisions that affect both individuals and families. Below is a summary of the most impactful provisions that take effect beginning in 2025 and 2026, along with details on provisions that have been extended or made permanent.
Digital Assets (Cryptocurrency, NFTs, Asset-Backed Tokens, etc.) and How They Are Taxed

While cryptocurrency is the most commonly discussed digital asset, many others are increasingly being adopted and traded. The IRS has broadened its focus to include all digital asset transactions—not just crypto.
2024 Tax Deadline for Individual, C Corporations and Estate/Trust Returns

The federal filing deadline for 2024 individual tax returns is Tuesday, April 15, 2024. It is also the filing deadline for calendar year C Corporations (1120) and Estate/Trust (1041) returns.
Update on Beneficial Ownership Information (BOI) Reporting Requirement

On February 18, 2025, the U.S. District Court for the Eastern District of Texas ruled that the reporting requirements under the Corporate Transparency Act are back in effect. However, the Department of Treasury recognizes that reporting companies may need additional time to comply.
Changes to Be Aware of for the 2025 Filing Season

Here are some important changes to be aware of for the 2025 tax filing season…
Reminder: Protect Taxpayers with an Identity Protection PIN (IP PIN)

Tax preparers should encourage their clients to sign up for an Identity Protection PIN (IP PIN) to safeguard their federal tax returns. The IP PIN is available to all taxpayers who can verify their identity and provides an extra layer of protection against identity theft.
Electronic Filing of Returns with Duplicate Dependents: New Updates for the 2025 Filing Season

Starting with the 2025 filing season (for 2024 federal income tax returns), the IRS will allow taxpayers to electronically file a return that includes a dependent already claimed on another 2024 federal return, provided the primary taxpayer has an Identity Protection PIN (IP PIN).
What’s New with the IRS Business Online Account?

The IRS has expanded its business online account services, now allowing more business entities to participate and introducing new features to enhance accessibility and functionality.
IRS Releases Tax Inflation Adjustments for Tax Year 2025

The IRS has announced the annual inflation adjustments for federal tax provisions for tax year 2025. Below are some key adjustments: