Individual Income Taxation

TOPICS

January 31, 2026

Prop. regs. issued on new qualified tips deduction

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.

January 23, 2026

IRS releases FAQs on qualified overtime pay deduction under H.R. 1

An IRS fact sheet explains when overtime compensation qualifies for the H.R. 1 deduction and how Fair Labor Standards Act rules apply, including for federal employees.

January 8, 2026

IRS to start accepting and processing tax returns on Jan. 26

The IRS acknowledged that new tax provisions could affect federal taxes, credits, and deductions. The start of filing season is in line with previous years.

December 31, 2025

Sec. 30D credit not allowed in 2019 for vehicle purchased in 2013

A Sec. 30D credit was denied because a vehicle was not placed in service in the year the credit was claimed.

December 31, 2025

Only deductible W-2 wages used in determining Sec. 199A deduction

Only deductible W-2 wages are included in calculating a taxpayer’s Sec. 199A qualified business income deduction.

December 31, 2025

Revisiting Sec. 1202: Strategic planning after the 2025 OBBBA expansion

This powerful vehicle for excluding gain on qualified small business stock gains even more traction under new legislation.

December 23, 2025

IRS updates FAQs on business interest limitation, premium tax credit

The updates reflect changes made in H.R. 1, P.L. 119–21, commonly known as the One Big Beautiful Bill Act.

December 17, 2025

Even an expert says: Digital asset reporting creates headaches

At the AICPA National Tax Conference, digital assets expert Nik Fahrer, CPA, sympathized with tax pros who dread the upcoming tax season because of digital asset reporting requirements.

December 9, 2025

IRS clarifies health savings account changes in H.R. 1 in new notice

Among other changes, the guidance explains that bronze and catastrophic plans are considered HSA-compatible under Sec. 223.

November 30, 2025

IRS approves medical deduction for IVF, denies it for surrogacy

A recent IRS ruling clarifies a key distinction of expenses for in vitro fertilization.

November 30, 2025

The ongoing fight against frivolous tax arguments

Taxpayers who make frivolous arguments in Tax Court risk the imposition of penalties by the court of up to $25,000.

November 30, 2025

QSBS gets a makeover: What tax pros need to know about Sec. 1202’s new look

New legislation has expanded the already advantageous provisions for gain exclusion from a sale of qualified small business stock.

November 30, 2025

Tax Court applies limited partner functional test for self-employment income

In Soroban Capital Partners, the Tax Court analyzed the roles, responsibilities, and capital contributions of three limited partners in a limited partnership and determined that they were limited partners in name only.

November 30, 2025

Tax-advantaged ABLE accounts for disabled individuals

The accounts help persons with disabilities pay for qualified disability expenses.

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.

October 31, 2025

Current developments in taxation of individuals: Part 2

This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending April 2025.

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.