Individual income taxation

TOPICS / TAX

November 24, 2025

About 1 million taxpayers to get automatic penalty relief next year

During a session at the AICPA National Tax Conference, the national taxpayer advocate said the IRS will start applying first-time abatements automatically next year.

November 21, 2025

IRS clarifies how employees can claim 2025 tip and overtime deductions

The IRS also is updating some income tax forms and instructions to help taxpayers claim the deductions.

November 13, 2025

Inflation adjustments to retirement account limits issued for 2026

The IRS announced inflation-adjusted limits on benefits and contributions for various retirement accounts on Thursday, including maximum contribution amounts for 401(k) plans and traditional and Roth IRAs.

November 1, 2025

Sixth Circuit affirms application of split-dollar regulation

A life insurance policy’s premiums were held nondeductible by a dentist’s practice, and its increase in cash value was taxable income to the dentist.

November 1, 2025

Frivolous arguments rejected by Tax Court

Cut-and-paste “gibberish” from tax-protester websites does not produce winning arguments.

October 24, 2025

Social Security wage base and COLA announced for 2026

Individual taxable earnings of up to $184,500 annually will be subject to Social Security tax in 2026, the Social Security Administration said. The SSA also announced a cost-of-living adjustment of 2.8% for both Social Security and Supplemental Security Income benefits for next year.

October 22, 2025

AICPA seeks IRS guidance on tip, overtime tax deductions for 2025

The AICPA said taxpayers and tax professionals need certainty about how to claim the deductions for 2025. The IRS has said it will not update its forms until 2026.

October 9, 2025

Annual inflation adjustments announced for tax year 2026

The IRS published annual inflation adjustments for more than 60 tax provisions for tax year 2026, in addition to changes to the standard deduction for tax year 2025.

October 1, 2025

Spouse is not entitled to sales proceeds in a judicial sale of taxpayer’s home

A taxpayer’s spouse lacked an interest in the home under state law, the Eighth Circuit held.

October 1, 2025

Flowthrough forfeiture loss deduction denied

Application of the public policy doctrine is not limited to where a criminally convicted person directly pays a fine or penalty, the Tax Court held.

September 23, 2025

IRS keeps per diem rates unchanged for business travel year starting Oct. 1

In its list of high-cost and low-cost localities, the IRS kept per diem rates for travel, meals, and incidental expenses unchanged for the new annual period starting Oct. 1.

September 19, 2025

Details on IRS prop. regs. on tip income deduction

The proposed regulations define “qualified tips” for purposes of the deduction and contain details on allowable forms of payment.

September 15, 2025

3 new financial planning opportunities after OBBBA

Help clients navigate a few of the legislation’s broadly applicable tax changes.

September 15, 2025

IRS releases draft form for tip, overtime, car loan, and senior deductions

The IRS on Friday released a draft of Schedule 1-A (Form 1040), a single form that consolidates the calculations of the four temporary deductions for tips, overtime, car loan interest, and seniors that are allowed under H.R. 1.

September 9, 2025

IRS warns taxpayers: Social media advice can lead to costly penalties

Misleading posts about credits like the fuel tax credit are landing taxpayers in trouble — with fines up to $5,000 for frivolous returns.

September 4, 2025

Treasury posts preliminary list of jobs eligible for no tax on tips

The list has a variety of occupations that customarily receive tips, including bartenders, dancers, and digital creators.

September 1, 2025

When does debt become worthless?

The Ninth Circuit, affirming the Tax Court, recently held that to deduct a nonbusiness bad debt, the debt must be “wholly worthless,” and if the debtor reports cancellation-of-debt (COD) income, the discharged debt is not thereby presumed to be worthless to the creditor. Facts: From 2007 to 2010, Michael R.

August 28, 2025

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