News

07/18/2025

IRS outlines tax deductions from Trump’s “big, beautiful bill”

Starting next year, millions of Americans — from restaurant servers to retirees — could receive lower tax bills under President Trump’s recently signed tax legislation.

Tax provisions in the One Big Beautiful Bill Act

Below are details of many of the tax provisions in the act commonly known as the One Big Beautiful Bill Act, which was signed into law Friday by President Donald Trump.

06/29/ 2025

The home sale gain exclusion in today’s market

With the recent surge in home prices, it’s time for advisers to brush up on this valuable tax exclusion.
By C. Andrew Lafond, CPA, DBA, and Kristin Wentzel, Ph.D.

01/10/2025

IRS releases tax inflation adjustments for tax year 2025

WASHINGTON — The Internal Revenue Service announced today the annual inflation adjustments for tax year 2025.
Revenue Procedure 2024-40 PDF provides detailed information on adjustments and changes to more than 60 tax provisions that will impact taxpayers when they file their returns in 2026.

10/22/2024

Prepare to file in 2025: Get Ready for tax season with key updates, essential tips

WASHINGTON — With the 2025 filing season quickly approaching, the Internal Revenue Service encouraged taxpayers to take key steps now to prepare for filing their 2024 federal income tax returns next year.

12/19/2024

Ask the Editor, July 25: Questions on Four New Tax Deductions

In our latest Ask the Editor round-up, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on new tax deductions in the “One Big Beautiful Bill.”

07/25/2025

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