Finance, investment and tax-related legislation

The tax-writing House Ways and Means Committee unanimously approved five bipartisan tax-related bills last week aimed at helping natural disaster victims, sexual assault survivors, pre-school teachers, taxpayers in general, and tax fraud whistleblowers.

A clear pattern is emerging of sectors that stand to win the most from the deductions and special preferences in the One Big Beautiful Bill Act.

A recent study by the Treasury Inspector General for Tax Administration found that the IRS has spent $15.7 billion of the $26 billion remaining from the 2022 Inflation Reduction Act.

Normally, election years are not very active years for tax legislation ... but there are signs this might not be a normal year.

The legislation would eliminate income taxes for Americans who earn less than $46,000 and reduce income taxes for those making between $46,000 and $80,500.

Notice 2026-11 from the IRS provides guidance on the permanent 100% additional first-year depreciation deduction provided by the One Big Beautiful Bill Act.

The proposed regulations relate to the new deduction for interest paid on vehicle loans incurred after Dec. 31, 2024, to purchase new made-in-America vehicles for personal use.

Major tax legislation, IRS staffing issues, and plenty of client confusion promise a challenging tax season.

The House Ways and Means Committee passed three bills aimed at bolstering taxpayer rights.

The agency is also looking for feedback on the guidance by next March.

The House approved two pieces of legislation to keep IRS agents from levying fines and penalties without supervisory approval, and to strengthen taxpayer rights in proceedings before the Tax Court.

In Notice 2025-69, the IRS and the Treasury offer clarifications and examples of how to claim the One Big Beautiful Bill Act deductions.

The Senate passed the Internal Revenue Service Math and Taxpayer Help Act despite the government shutdown, sending it to President Trump for his signature.

The Trump administration's tax bill has created the opportunity to deduct domestic R&E expenses

Employee benefit planners need to be thinking about the OBBBA and other Trump administration initiatives.

Congress did not simply extend the Tax Cuts and Jobs Act provisions starting in 2026 with the One Big Beautiful Bill Act; it also modified some of those provisions effective in 2025.

Senate and House Democrats proposed a bill to ensure billionaires pay a "fair share" of taxes, without actually raising their tax rate under current law, while Republicans advanced legislation pertaining to the IRS and the U.S. Tax Court.

The legislation currently moving through Congress could have dire tax implications for CPA firms that use global outsourcing.

The Trump administration's big tax legislation has plenty for the real estate industry to like, says an expert from Baker Tilly.

What tips qualify, which don't, how to file and more.