Tax Laws

  • Back-to-School Tax Planning: Education Credits and New Rules to Know

    Back-to-school season is a good time to remind clients that education expenses can have tax implications. The American Opportunity Tax Credit (AOTC) and Lifetime Learning Credit (LLC) remain two important federal tax benefits for higher education. Recent law changes also expand some education-related tax benefits, including qualified expenses for 529 plans and employer assistance with…

  • Before You Amend: Consider a Superseded Return First

    Every filing season, many tax professionals encounter the same scenario: a return has been accepted by the IRS, and then new information arrives. A corrected Form W-2 appears. A Schedule K-1 is revised. A taxpayer remembers an overlooked deduction. Learn more: Watch our video about Amended vs. Superseded Returns The first instinct is often to prepare an amended…

  • Cannabis Taxation Is Unlike Any Other Industry

    The federal government prohibits cannabis, but many states allow it. How?   Few industries present as many tax compliance challenges as cannabis. If a client comes to you and says they are in the cannabis industry, what do you do as a tax professional?  More than half the states have legalized cannabis for medical use, recreational…

  • Free Download: What Tax Professionals Should Know About Today’s Gold Market

    Gold has long been viewed as a safe-haven asset during periods of economic uncertainty. As inflation concerns, market volatility, and geopolitical events influence investor behavior, many taxpayers are buying, selling, or holding gold as part of a diversified investment strategy. For tax professionals, that can mean more questions from clients. Whether a client owns physical…

  • Free Download: What are IRS Statistics Telling Us?

    Refunds are larger. Self-prepared returns are increasing. More taxpayers are using digital services. But what do these trends mean for your firm? What does the latest IRS filing season data mean for your clients, your practice, and the future of tax preparation? From the growth of self-prepared returns to rising refund amounts and increased reliance…

  • Vacation Rental Tax Tips for Tax Professionals

    Vacation home tax rules can be complicated because tax treatment depends on personal use, rental use, and the services provided to guests. Whether clients earn income through Airbnb, Vrbo, or direct bookings, understanding IRS short-term rental rules is critical for proper reporting and maximizing rental property tax deductions. What Is a Short-Term Rental? For federal…

  • 10 State Developments Tax Professionals Should Watch in 2026

    State tax policy continues to move quickly. Legislatures, departments of revenue, and courts are addressing pass-through entity taxes (PTETs), economic nexus, income tax rate reductions, digital products taxation, and conformity to recent federal tax legislation. For tax professionals, these developments create both planning opportunities and compliance risks.  1. California: Continued Focus on PTET Planning and…

  • Amended vs. Superseded Returns Infographic

    Minimize Filing Mistakes That Cost Time, Money, and Client Trust Understanding when to amend versus supersede a return can help tax professionals reduce delays, avoid unnecessary complications, and improve client outcomes. Download this free infographic to learn: Get the quick-reference guide designed to help you make the right call with confidence. Fill out the form…

  • Amended Returns: What Tax Preparers Need to Know

    Tax preparers often file amended returns long after the original filing deadline passes. In 2026, amended returns continue to play a major role in correcting taxpayer errors, claiming missed credits, and responding to IRS notices. While the basic rules for amended returns remain familiar, several procedural changes and IRS modernization efforts affect how preparers handle Form…

  • Disaster Tax Relief 2026: Current IRS Disaster Relief Programs Tax Pros Need to Know

    As of 2026, tax professionals must navigate multiple overlapping IRS disaster relief deadlines, some extending well into the current year. This guide outlines the most relevant IRS disaster relief programs, including active extensions, affected areas, and how to advise clients. What Is IRS Disaster Tax Relief? The IRS offers automatic tax filing and payment extensions to taxpayers…