Individual income taxation

TOPICS / TAX

August 1, 2025

Eleventh Circuit finds some FBAR penalties are excessive

The appeals court held that some of a taxpayer’s FBAR penalties were disproportional to the offense and thus an excessive fine under the Eighth Amendment.

July 29, 2025

AICPA supports bill that lets married domestic violence victims file taxes as single

The bill would empower survivors of domestic abuse or spousal abandonment to file taxes without contacting their abuser.

July 7, 2025

Tax provisions in the One Big Beautiful Bill Act

The bill extends portions of the Tax Cuts and Jobs Act, provides deductions to eliminate income taxes on certain tips and overtime pay, and addresses other tax priorities of the Trump administration.

July 1, 2025

Deductibility of theft losses for victims of certain scams

In the case of an individual, theft losses stemming from scams through fraud and deceit are disallowed for tax years 2018 through 2025 unless the transaction was entered into for profit.

June 28, 2025

Senate budget bill would preserve PTET SALT deduction

An AICPA statement after the bill was issued by the Senate Budget Committee lauded lawmakers for “diligent work to reject new tax increases” on passthrough business including CPA firms.

June 25, 2025

AICPA proposes changes to Senate bill that would help most US businesses

Passthrough entities would lose ground compared with corporations under tax language in the Senate Finance Committee bill, the AICPA said in a letter to legislative finance leaders.

June 19, 2025

Tax provisions of Senate Finance’s version of the budget bill

The 549-page text calls for making many provisions of the Tax Cuts and Jobs Act permanent. The committee says that the SALT cap amount is “the subject of continuing negotiations.”

June 16, 2025

AICPA makes Priority Guidance Plan recommendations to IRS

In addition to its 183 recommendations for the IRS plan, the AICPA encouraged the agency to continue to pursue tax simplification.

June 13, 2025

Supreme Court: Tax Court lacks jurisdiction after removal of levy

Reversing the Third Circuit, the Court holds that the Tax Court lacked jurisdiction over a collection due process appeal of a levy once the taxpayer’s underlying tax liability was satisfied and the IRS removed the levy.

June 1, 2025

IRS did not concede taxpayer’s self-employment tax liability

A Social Security Administration letter advising of a reduction of his self-employment earnings record and an IRS refund were not concessions of liability for self-employment tax.

May 18, 2025

Reconciliation bill clears committee on second try

Sunday revote came after Republican fiscal hawks initially joined Democrats to sink the bill, which includes tax provisions approved by the House Ways and Means Committee last week.

May 18, 2025

Ways and Means approves proposed TCJA extensions and tax changes

The bill would make key portions of the TCJA permanent and create a new “senior bonus” deduction, among its many provisions. An AICPA statement said it is “deeply troubled” by the plan to curtail use of passthroughs to avoid SALT cap. The bill now heads to the House Budget Committee.

May 1, 2025