Spidell https://spidell.com/ Spidell Publishing, LLC — Serving Tax Professionals For Over 40 Years Fri, 20 Mar 2026 22:57:01 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 https://spidell.com/wp-content/uploads/2024/11/favicon-spidell-48x48.png Spidell https://spidell.com/ 32 32 Tribune: A word of encouragement https://spidell.com/news/tribune/tribune-a-word-of-encouragement/ Fri, 20 Mar 2026 22:57:01 +0000 https://spidell.com/?p=684896 We’re a little more than three weeks from the April 15 filing deadline, and many of us have stopped taking new appointments and are working feverishly to finish tax returns on our desk while preparing extensions and first quarter estimate calculations. I have no doubt that you’re tired, possibly running short on patience, and counting... Read More »

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]]> Tribune: The luck of the Irish (not available as a deduction) https://spidell.com/news/tribune/tribune-the-luck-of-the-irish-not-available-as-a-deduction/ Fri, 20 Mar 2026 22:52:50 +0000 https://spidell.com/?p=684892 It was St. Patrick’s Day this past week, which means one thing for most Americans: green beer, corned beef, and a brief but sincere wish that they had been born Irish. For tax professionals, however, it means something slightly different: green beer, corned beef, and a brief but sincere wish that the Tax Code contained... Read More »

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]]> Tribune: Getting through another parallelogram season https://spidell.com/news/tribune/tribune-getting-through-another-parallelogram-season/ Fri, 20 Mar 2026 22:51:03 +0000 https://spidell.com/?p=684890 If there’s one thing that individual tax preparers have in common, it’s a universal dread — the soul-crushing ritual of indecipherable forms, calculators, and hours of work ending in despair over underwhelming refunds. Here are some circulating tweets that capture the anxiety and dejection that comes with procrastination, frustration, and realizing your tax refund is... Read More »

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]]> 2026-11: Digital asset lot identification relief extended https://spidell.com/news/flash-email/2026-11-digital-asset-lot-identification-relief-extended/ Fri, 20 Mar 2026 17:02:58 +0000 https://spidell.com/?p=684860 IRS Notice 2026-20 extends for an additional year, through December 31, 2026, the temporary relief for digital asset lot identification initially provided by IRS Notice 2025-7. During this relief period, eligible taxpayers may bypass the requirement to communicate specific lot selections to their custodial broker. Under IRS regulations, when a taxpayer fails to make an adequate... Read More »

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]]> Digital asset lot identification relief extended https://spidell.com/news/hot-news-and-notes/digital-asset-lot-identification-relief-extended/ Fri, 20 Mar 2026 17:02:41 +0000 https://spidell.com/?p=684861 IRS Notice 2026-20 extends for an additional year, through December 31, 2026, the temporary relief for digital asset lot identification initially provided by IRS Notice 2025-7. During this relief period, eligible taxpayers may bypass the requirement to communicate specific lot selections to their custodial broker. Under IRS regulations, when a taxpayer fails to make an adequate... Read More »

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]]> Transitional relief announced for business interest elections https://spidell.com/news/hot-news-and-notes/transitional-relief-announced-for-business-interest-elections/ Fri, 20 Mar 2026 15:13:37 +0000 https://spidell.com/?p=684844 Rev. Proc. 2026-17 provides transition guidance for taxpayers who previously elected to be treated as an electing real property trade or business, electing farming business, or excepted regulated utility trade or business, but who now wish to withdraw that election in light of OBBBA amendments. By making these elections, these taxpayers chose to: Not have the... Read More »

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]]> 2026-10: Transitional relief announced for business interest elections https://spidell.com/news/flash-email/2026-10-transitional-relief-announced-for-business-interest-elections/ Fri, 20 Mar 2026 15:13:32 +0000 https://spidell.com/?p=684845 Rev. Proc. 2026-17 provides transition guidance for taxpayers who previously elected to be treated as an electing real property trade or business, electing farming business, or excepted regulated utility trade or business, but who now wish to withdraw that election in light of OBBBA amendments. By making these elections, these taxpayers chose to: Not have the... Read More »

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]]> Tribune: National what day??? https://spidell.com/news/tribune/tribune-national-what-day/ Fri, 13 Mar 2026 23:37:38 +0000 https://spidell.com/?p=684437 One of my many hats I wear at Spidell is searching the news for various tax topics to make sure we’re on top of all the latest developments in the tax world. While scouring these various sources, I frequently come across some unusual tidbits, both tax and non-tax related. For instance, in a Forbes e-mail... Read More »

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]]> Tribune: Speaking of days… https://spidell.com/news/tribune/tribune-speaking-of-days/ Fri, 13 Mar 2026 23:35:14 +0000 https://spidell.com/?p=684435 National Slam the Scam Day was on March 5, the same day the IRS released its 2026 Dirty Dozen list of tax scams. This year’s list contains a new item for abusive undistributed long-term capital gains claims, replacing prior fuel tax credit concerns. This item was added because the IRS continues to see an increase... Read More »

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]]> Tribune: Sales tax code red (salsa) https://spidell.com/news/tribune/tribune-sales-tax-code-red-salsa/ Fri, 13 Mar 2026 23:11:17 +0000 https://spidell.com/?p=684428 In a New York hot dog restaurant, dial the right number in a vintage phone booth and it opens to reveal the door to a speakeasy.1 Within Disneyland, at 33 Royal Street, ring the bell and say your name; if you’re on the list, the door will open to the mysterious Club 33.2 And next... Read More »

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]]> 2026-09: Trump account proposed regulations issued https://spidell.com/news/flash-email/2026-09-trump-account-proposed-regulations-issued/ Mon, 09 Mar 2026 15:09:11 +0000 https://spidell.com/?p=684245 Today the IRS issued proposed regulations under new IRC §§530A and 6434, which govern Trump account pilot program contribution elections. (REG-117002-25, REG-117270-25) The proposed regulations govern how to open a Trump account and elect the $1,000 pilot contribution for eligible children and generally follow the initial guidance issued in IRS Notice 2025-68. The IRS will... Read More »

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]]> Trump account proposed regulations issued https://spidell.com/news/hot-news-and-notes/trump-account-proposed-regulations-issued/ Mon, 09 Mar 2026 15:08:57 +0000 https://spidell.com/?p=684246 Today the IRS issued proposed regulations under new IRC §§530A and 6434, which govern Trump account pilot program contribution elections. (REG-117002-25, REG-117270-25) The proposed regulations govern how to open a Trump account and elect the $1,000 pilot contribution for eligible children and generally follow the initial guidance issued in IRS Notice 2025-68. The IRS will... Read More »

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]]> Tribune: California’s arm is long, but not quite that long https://spidell.com/news/tribune/tribune-californias-arm-is-long-but-not-quite-that-long/ Sat, 07 Mar 2026 00:08:29 +0000 https://spidell.com/?p=684145 If you’ve spent any time working in California tax law, you already know the Golden State has a, shall we say, enthusiastic approach to claiming jurisdiction over people, income, and apparently, football players who briefly passed through the state three decades ago. But even California has limits. A court recently had to remind the state... Read More »

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]]> Tribune: 123-45-6789 https://spidell.com/news/tribune/tribune-123-45-6789/ Sat, 07 Mar 2026 00:07:06 +0000 https://spidell.com/?p=684143 Social Security is full of its share of tricky rules regarding benefit calculation and taxability, a topic that Spidell covers often in our various publications. Today, however, we will not determine the indexed amount for each year prior to age 60, by multiplying the amount earned (but not more than the maximum wages subject to... Read More »

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]]> Tribune: Sum tax puns from our readers https://spidell.com/news/tribune/tribune-sum-tax-puns-from-our-readers/ Sat, 07 Mar 2026 00:05:05 +0000 https://spidell.com/?p=684139 A few weeks ago we asked our Tax Season Tribune readers to send in their favorite tax-related puns. Here are a few that we received. For those of you who don’t think accountants can be humerus, I’ve got a bone to pick with you! — Zach Old accountants never die. They just loose their balance!... Read More »

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]]> 2026-08: Qualified tips deduction clarified for self-employed individuals https://spidell.com/news/flash-email/2026-08-qualified-tips-deduction-clarified-for-self-employed-individuals/ Wed, 04 Mar 2026 22:27:22 +0000 https://spidell.com/?p=683998 For purposes of calculating the qualified tips deduction for self-employed individuals, the IRS has adopted a similar approach to the one used to calculate the IRC §199A qualified business income net income limitation for sole proprietors. Self-employed individuals cannot claim a qualified tips deduction that is greater than the taxpayer’s gross income from the trade... Read More »

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]]> Qualified tips deduction clarified for self-employed individuals https://spidell.com/news/hot-news-and-notes/qualified-tips-deduction-clarified-for-self-employed-individuals/ Wed, 04 Mar 2026 22:27:10 +0000 https://spidell.com/?p=683999 For purposes of calculating the qualified tips deduction for self-employed individuals, the IRS has adopted a similar approach to the one used to calculate the IRC §199A qualified business income net income limitation for sole proprietors. Self-employed individuals cannot claim a qualified tips deduction that is greater than the taxpayer’s gross income from the trade... Read More »

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]]> Tribune: TikTok lawmakers https://spidell.com/news/tribune/tribune-tiktok-lawmakers/ Sat, 28 Feb 2026 00:25:32 +0000 https://spidell.com/?p=683740 During a Financial Accounting Foundation Oversight Committee meeting held last week, the Government Accounting Standards Board (GASB) announced that it is launching a series of short videos to help lawmakers understand financial reports. Previously, GASB published user guides to help lawmakers, but according to GASB’s chair, Joel Black, “In this day and age, very few... Read More »

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]]> Tribune: Ready to launch … Come to the Integratron https://spidell.com/news/tribune/tribune-ready-to-launch-come-to-the-integratron/ Sat, 28 Feb 2026 00:13:10 +0000 https://spidell.com/?p=683738 Feeling like if you are handed one more shoe box of receipts, you’ll likely launch them into outer space? Halfway through the tax season and desperately needing a quick rejuvenating getaway to get through the dog days of March? Well, for those of us living in Southern California, the answer may just be a few... Read More »

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]]> Tribune: De minimis lime and other crime https://spidell.com/news/tribune/tribune-de-minimis-lime-and-other-crime/ Fri, 27 Feb 2026 23:52:34 +0000 https://spidell.com/?p=683731 If you can dream it, you can sue someone for it. Footlong sub is only 11 inches?1 Lawsuit. Texas Pete hot sauce is made in North Carolina?2 Lawsuit. Mozzarella sticks don’t actually contain any mozzarella?3 How dare you! Lawsuit. Here are a few examples of products that failed to live up to lofty consumer expectations.... Read More »

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]]> 2026-07: What to do when California forms are not available through your software provider https://spidell.com/news/flash-email/2026-07-what-to-do-when-california-forms-are-not-available-through-your-software-provider/ Tue, 24 Feb 2026 18:16:19 +0000 https://spidell.com/?p=683309 We’ve heard from numerous tax professionals who are frustrated because many of the final business entity tax forms are still not available through their tax software provider. This is not a universal issue with all tax software providers, because we have heard from other tax professionals that they have been able to access final forms... Read More »

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]]> What to do when California forms are not available through your software provider https://spidell.com/news/hot-news-and-notes/what-to-do-when-california-forms-are-not-available-through-your-software-provider/ Tue, 24 Feb 2026 18:15:29 +0000 https://spidell.com/?p=683310 We’ve heard from numerous tax professionals who are frustrated because many of the final business entity tax forms are still not available through their tax software provider. This is not a universal issue with all tax software providers, because we have heard from other tax professionals that they have been able to access final forms... Read More »

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]]> 2026-06: Guidance issued on OBBBA’s qualified production depreciation deduction https://spidell.com/news/flash-email/2026-06-guidance-issued-on-obbbas-qualified-production-depreciation-deduction/ Mon, 23 Feb 2026 18:07:31 +0000 https://spidell.com/?p=683221 The IRC §168(n) special depreciation deduction for qualified production property allows taxpayers to claim a 100% depreciation allowance for certain real property placed in service after July 4, 2025, and before January 1, 2031. Eligible property must be used in qualified production activity and meet other specified criteria. New taxpayer-friendly guidance issued by the IRS,... Read More »

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]]> Guidance issued on OBBBA’s qualified production depreciation deduction https://spidell.com/news/hot-news-and-notes/guidance-issued-on-obbbas-qualified-production-depreciation-deduction/ Mon, 23 Feb 2026 18:07:10 +0000 https://spidell.com/?p=683220 The IRC §168(n) special depreciation deduction for qualified production property allows taxpayers to claim a 100% depreciation allowance for certain real property placed in service after July 4, 2025, and before January 1, 2031. Eligible property must be used in qualified production activity and meet other specified criteria. New taxpayer-friendly guidance issued by the IRS,... Read More »

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]]> Tribune: Cheat sheet: What curling can teach you about cheating on your taxes https://spidell.com/news/tribune/tribune-cheat-sheet-what-curling-can-teach-you-about-cheating-on-your-taxes/ Fri, 20 Feb 2026 23:06:11 +0000 https://spidell.com/?p=683063 There are two arenas in life where ordinary, respectable people are lured down a dark path, throwing the rules out the window and hoping no one will notice: the curling rink and the tax return. The Canadian men’s curling team showed us this at the 2026 Olympics, when a player was accused of illegally touching... Read More »

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]]> Tribune: OMG you’re killing me! https://spidell.com/news/tribune/tribune-omg-youre-killing-me/ Fri, 20 Feb 2026 23:01:11 +0000 https://spidell.com/?p=683061 Okay, March is around the corner, which means things are starting to get a little tense. Here’s a few accounting puns to provide a little relief (no pun intended): Don’t hate, depreciate. It’s an accrual world. Accountants work their assets off. Accountants are great at relationships — they always know how to carry one. Auditors... Read More »

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]]> Tribune: A concession https://spidell.com/news/tribune/tribune-a-concession/ Fri, 20 Feb 2026 22:58:40 +0000 https://spidell.com/?p=683058 In last week’s Tax Season Tribune article Olympic gold (sort of), I ruffled some feathers within our reader base by not-so-subtly suggesting that Olympic handball isn’t a “real sport.” One kind soul took the time to send me a link to a YouTube video produced by USA Team Handball that explains the sport to an... Read More »

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]]> Tribune: Olympic gold (sort of) https://spidell.com/news/tribune/tribune-olympic-gold-sort-of/ Fri, 13 Feb 2026 23:38:10 +0000 https://spidell.com/?p=682629 I was shocked when I saw a news story recently when a U.S. gold medalist from the Winter Olympics in Milan, Italy, was showing off her broken medal. Apparently, it broke while she was jumping around in excitement. That bit of cheap craftsmanship led me down a rabbit hole of investigating a little more about... Read More »

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]]> Tribune: Calculating a world record https://spidell.com/news/tribune/tribune-calculating-a-world-record/ Fri, 13 Feb 2026 23:35:47 +0000 https://spidell.com/?p=682626 On September 24, 2025, accounting industry groups including the Minnesota Society of CPAs gathered at the Target Center in Minneapolis to create the longest line of calculators.1 Their world record total added up to 1,094. By our math that’s enough calculators to give one to every attendee at one of our tax update seminars in... Read More »

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]]> Tribune: The phishing pole: municipal utility falls for scam https://spidell.com/news/tribune/tribune-the-phishing-pole-municipal-utility-falls-for-scam/ Fri, 13 Feb 2026 23:34:10 +0000 https://spidell.com/?p=682624 You know that old phrase “Go with your gut?” It’s one that some employees at Sacramento Municipal Utility District (SMUD) apparently forgot when they received an e-mail from a vendor requesting a bank account change. (TransAmerican Power Poles, Inc. v. Sacramento Municipal Utility District (August 26, 2025) Cal.App.3d, Case No. C100384) A SMUD employee had... Read More »

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]]> 2026-05: Mortgage assistance program for disaster victims greatly expanded https://spidell.com/news/flash-email/2026-05-mortgage-assistance-program-for-disaster-victims-greatly-expanded/ Thu, 12 Feb 2026 20:01:13 +0000 https://spidell.com/?p=682445 The Governor has announced that the state is expanding its CalAssist Mortgage Relief Program to provide up to one year (previously three months) of mortgage assistance grants, up to $100,000 (previously $20,000). The state has also increased the income limits that residents must meet to qualify for the program (e.g., up to $70,000 higher for... Read More »

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]]> Mortgage assistance program for disaster victims greatly expanded https://spidell.com/news/hot-news-and-notes/mortgage-assistance-program-for-disaster-victims-greatly-expanded/ Thu, 12 Feb 2026 20:00:58 +0000 https://spidell.com/?p=682446 The Governor has announced that the state is expanding its CalAssist Mortgage Relief Program to provide up to one year (previously three months) of mortgage assistance grants, up to $100,000 (previously $20,000). The state has also increased the income limits that residents must meet to qualify for the program (e.g., up to $70,000 higher for... Read More »

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]]> FTB interest rates released https://spidell.com/news/hot-news-and-notes/ftb-interest-rates-released/ Wed, 11 Feb 2026 23:55:34 +0000 https://spidell.com/?p=682347 The FTB has released the interest rates for the second half of 2026. (FTB Tax News (February 2026)) For the period July 1, 2026, through December 31, 2026, the rates remain unchanged from the first half of 2026: Personal underpayment/overpayment and corporate underpayment: 7%; and Corporate overpayment: 4%. You can access historical rates at: www.ftb.ca.gov/pay/penalties-and-interest/interest-and-estimate-penalty-rates.html

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]]> 2026-04: 1040-ES mailing address confusion https://spidell.com/news/flash-email/2026-04-1040-es-mailing-address-confusion/ Wed, 11 Feb 2026 22:37:26 +0000 https://spidell.com/?p=682312 We have received numerous inquiries from tax professionals alerting us that the Form 1040-ES mailing address for payments had been changed for certain taxpayers in the 2026 instructions. We reached out to the IRS for clarification because no announcement had been made. Since that time, the IRS has removed the 2026 Form 1040-ES from their... Read More »

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]]> 1040-ES mailing address confusion https://spidell.com/news/hot-news-and-notes/1040-es-mailing-address-confusion/ Wed, 11 Feb 2026 22:37:06 +0000 https://spidell.com/?p=682313 We have received numerous inquiries from tax professionals alerting us that the Form 1040-ES mailing address for payments had been changed for certain taxpayers in the 2026 instructions. We reached out to the IRS for clarification because no announcement had been made. Since that time, the IRS has removed the 2026 Form 1040-ES from their... Read More »

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]]> 160 lenders extend mortgage relief for LA fire survivors https://spidell.com/news/hot-news-and-notes/160-lenders-extend-mortgage-relief-for-la-fire-survivors/ Mon, 09 Feb 2026 17:12:35 +0000 https://spidell.com/?p=681663 The Governor’s office announced that over 160 lending institutions have committed to provide a streamlined process for at least one additional forbearance period of up to 90 days for qualified borrowers. This is in addition to the 12-month commitment required by AB 238 (Ch. 25-128) enacted last year.  According to the Governor’s office, this latest commitment of an additional 90 days forbearance is subject to approval by investors... Read More »

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]]> Tribune: A sobering reminder for tax season fuel https://spidell.com/news/tribune/tribune-a-sobering-reminder-for-tax-season-fuel/ Mon, 09 Feb 2026 16:33:13 +0000 https://spidell.com/?p=681647 Tax pros powered by Celsius energy drinks during busy season should exercise some caution — they might accidentally get more of a buzz than they bargained for.  In late July 2025, High Noon issued a voluntary recall after discovering that some of its vodka seltzers were accidentally labeled as Celsius Astro Vibe energy drinks. The packaging mix-up occurred... Read More »

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]]> Tribune: A delicious side hustle? You bet your buns https://spidell.com/news/tribune/tribune-a-delicious-side-hustle-you-bet-your-buns/ Mon, 09 Feb 2026 16:28:45 +0000 https://spidell.com/?p=681645 When the government shut down in October 2025, IRS attorney Isaac Stein was ready for the furlough — he immediately pivoted to being a full-time hot dog vendor.1 It was a move as natural as the casings on a Vienna Beef hot dog, because Stein had dreamed of having his own hot dog cart since... Read More »

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]]> Tribune: I get by with a little help from my…”friends” https://spidell.com/news/tribune/tribune-i-get-by-with-a-little-help-from-myfriends/ Mon, 09 Feb 2026 16:24:08 +0000 https://spidell.com/?p=681641 We’ve all seen the Tax Day cocktail videos on TikTok and YouTube. But while taxpayers need liquid courage on April 15, we know tax professionals need it long before then. So, in addition to providing tax tips to help you survive tax season, we thought our subscribers could use guidance on liquid flow rather than... Read More »

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]]> 2026-03: IRS to remain staffed for first 5 days of shutdown https://spidell.com/news/flash-email/2026-03-irs-to-remain-staffed-for-first-5-days-of-shutdown/ Tue, 03 Feb 2026 16:32:41 +0000 https://spidell.com/?p=680852 According to the updated 2026 Lapsed Appropriations Contingency Plan, IRS operations will continue to be fully funded for the first five days of a government shutdown. The IRS will continue to fund their operations with appropriations remaining from the Inflation Reduction Act. This means there will be little to no impact on IRS operations from... Read More »

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]]> IRS to remain staffed for first 5 days of shutdown https://spidell.com/news/hot-news-and-notes/irs-to-remain-staffed-for-first-5-days-of-shutdown/ Tue, 03 Feb 2026 16:30:57 +0000 https://spidell.com/?p=680854 According to the updated 2026 Lapsed Appropriations Contingency Plan, IRS operations will continue to be fully funded for the first five days of a government shutdown. The IRS will continue to fund their operations with appropriations remaining from the Inflation Reduction Act. This means there will be little to no impact on IRS operations from... Read More »

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]]> Tribune: Warning: Tax pros better up their game … literally https://spidell.com/news/tribune/tribune-warning-tax-pros-better-up-their-game-literally/ Sat, 31 Jan 2026 01:08:51 +0000 https://spidell.com/?p=680105 For a moment it looked like the tax world was about to be taken over by PokéTax, but accountants can now breathe a sigh of relief. At least for now, PokéTax has been sidelined . Last April, Pryce Adade-Yebesi, the 24-year-old co-founder and CEO of OpenLedger, unveiled PokéTax, a new game that uses Tax Trainers,... Read More »

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]]> Tribune: Who says crime doesn’t pay? https://spidell.com/news/tribune/tribune-who-says-crime-doesnt-pay/ Sat, 31 Jan 2026 01:07:45 +0000 https://spidell.com/?p=680103 Sometimes criminals seem to get off way too easy. Take Mr. Christopher J. Smyth of Pineville, West Virgina. Mr. Smyth owned Stat EMS, an emergency medical service (EMS) business (aka an ambulance business). Mr. Smythe racked up over $4.6 million in trust fund penalties for pilfering income taxes withheld from his employees for over a... Read More »

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]]> Tribune: On Luxembourg https://spidell.com/news/tribune/tribune-on-luxembourg/ Sat, 31 Jan 2026 01:06:55 +0000 https://spidell.com/?p=680100 I recently bought a volume of the works of Edgar Allan Poe during lunch, and I admit I wasted over an hour of work time that I should have spent reading OTA appeals, or pulling together podcast content, or writing articles to instead read favorites like “The Tell-Tale Heart” and, of course, “The Raven.” But... Read More »

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]]> FTB’s systems back up and running https://spidell.com/news/hot-news-and-notes/ftbs-systems-back-up-and-running/ Thu, 29 Jan 2026 21:33:01 +0000 https://spidell.com/?p=679743 The FTB’s network access has been restored and systems are currently back online. Due to the network outage, the FTB is experiencing a higher volume of calls and is encouraging taxpayers and tax professionals to use MyFTB or online services to address their issues if possible. Sign up for Spidell’s 2026 Post-Tax Season Update and Review webinar... Read More »

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]]> 2026-02: FTB’s systems back up and running https://spidell.com/news/flash-email/2026-02-ftbs-systems-back-up-and-running/ Thu, 29 Jan 2026 21:32:55 +0000 https://spidell.com/?p=679741 The FTB’s network access has been restored and systems are currently back online. Due to the network outage, the FTB is experiencing a higher volume of calls and is encouraging taxpayers and tax professionals to use MyFTB or online services to address their issues if possible. Sign up for Spidell’s 2026 Post-Tax Season Update and Review webinar... Read More »

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]]> FTB’s systems are down https://spidell.com/news/hot-news-and-notes/ftbs-systems-are-down/ Thu, 29 Jan 2026 18:53:21 +0000 https://spidell.com/?p=679643 The FTB has notified Spidell that their systems are currently down. They have stated that this does not appear to be a security-related issue. However, FTB staff will not be able to assist taxpayers or tax professionals while their systems are down because they will be unable to access taxpayer information. We will send another... Read More »

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]]> 2026-01: FTB’s systems are down https://spidell.com/news/flash-email/2026-01-ftbs-systems-are-down/ Thu, 29 Jan 2026 18:53:16 +0000 https://spidell.com/?p=679642 The FTB has notified Spidell that their systems are currently down. They have stated that this does not appear to be a security-related issue. However, FTB staff will not be able to assist taxpayers or tax professionals while their systems are down because they will be unable to access taxpayer information. We will send another... Read More »

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]]> Podcast: Understand who is and who isn’t eligible for the new overtime deduction https://spidell.com/news/fedtaxminute/podcast-understand-who-is-and-who-isnt-eligible-for-the-new-overtime-deduction/ Tue, 27 Jan 2026 00:33:04 +0000 https://spidell.com/?p=678609 This week we’re covering which workers are and are not eligible for the new overtime deduction. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_01-27-26.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-understand-who-is-and-who-isnt-eligible-for-the-new-overtime-deduction

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]]> Podcast: California treatment of Trump accounts and contributions https://spidell.com/news/podcast/podcast-california-treatment-of-trump-accounts-and-contributions/ Sat, 24 Jan 2026 00:16:25 +0000 https://spidell.com/?p=678031 This week we’re covering California’s treatment of Trump accounts and contributions. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_01-25-26.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-california-treatment-of-trump-accounts-and-contributions

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]]> Podcast: Claiming tips and overtime deductions on 2025 returns https://spidell.com/news/fedtaxminute/podcast-claiming-tips-and-overtime-deductions-on-2025-returns/ Fri, 16 Jan 2026 23:23:32 +0000 https://spidell.com/?p=676218 This week, we’re covering transition relief and guidance for claiming tips and overtime deductions on 2025 tax returns. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_01-20-26.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-claiming-tips-and-overtime-deductions-on-2025-returns

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]]> Podcast: Tips for filing LLC returns https://spidell.com/news/podcast/podcast-tips-for-filing-llc-returns/ Fri, 16 Jan 2026 22:46:53 +0000 https://spidell.com/?p=676198 This week we’re covering LLC filings, and the answers to questions we get frequently from tax practitioners. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_01-18-26.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-tips-for-filing-llc-returns

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]]> Podcast: Why it’s even more important to file and pay online https://spidell.com/news/fedtaxminute/podcast-why-its-even-more-important-to-file-and-pay-online/ Mon, 12 Jan 2026 23:38:44 +0000 https://spidell.com/?p=674535 This week we’re covering a change at the U.S. Postal Service that affects postmarks and makes filing and paying electronically even more important. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_01-13-26.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-why-its-even-more-important-to-file-and-pay-online

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]]> Podcast: Options for entities that never formally dissolved https://spidell.com/news/podcast/podcast-options-for-entities-that-never-formally-dissolved/ Sat, 10 Jan 2026 00:07:16 +0000 https://spidell.com/?p=673956 This week we’re talking about entities that ceased doing business but never dissolved, and what their options are. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_01-11-26.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-options-for-entities-that-never-formally-dissolved/

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]]> 2025-83: Ladies and gentlemen, start your engines! IRS announces tax season opening date https://spidell.com/news/flash-email/2025-83-ladies-and-gentlemen-start-your-engines-irs-announces-tax-season-opening-date/ Thu, 08 Jan 2026 19:57:18 +0000 https://spidell.com/?p=673352 The IRS has announced that Monday, January 26, 2026, is the opening day of the 2026 income tax filing season. This is the date when the IRS officially begins accepting and processing 2025 federal income tax returns. The California Franchise Tax Board is already accepting e-filed returns. Tax returns filed early in the filing season... Read More »

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]]> Ladies and gentlemen, start your engines! IRS announces tax season opening date https://spidell.com/news/hot-news-and-notes/ladies-and-gentlemen-start-your-engines-irs-announces-tax-season-opening-date/ Thu, 08 Jan 2026 19:57:07 +0000 https://spidell.com/?p=673353 The IRS has announced that Monday, January 26, 2026, is the opening day of the 2026 income tax filing season. This is the date when the IRS officially begins accepting and processing 2025 federal income tax returns. The California Franchise Tax Board is already accepting e-filed returns. Tax returns filed early in the filing season... Read More »

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]]> Podcast: Tax ramifications of reclassifying cannabis as Schedule III drug https://spidell.com/news/fedtaxminute/podcast-tax-ramifications-of-reclassifying-cannabis-as-schedule-iii-drug/ Tue, 06 Jan 2026 00:29:34 +0000 https://spidell.com/?p=671871 This week we’re talking about the tax effects of reclassifying marijuana to a Schedule III drug. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_01-06-26.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-tax-ramifications-of-reclassifying-cannabis-as-schedule-iii-drug

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]]> 2025-82: More disaster tax relief legislation enacted https://spidell.com/news/flash-email/2025-82-more-disaster-tax-relief-legislation-enacted/ Mon, 05 Jan 2026 19:00:29 +0000 https://spidell.com/?p=671462 President Trump has signed the Disaster Related Extension of Deadlines Act (HR 1491), which makes two key changes for disaster victims. The act: Extends the statute of limitations period for disaster victims to file a refund claim; and Prohibits the IRS from mailing a payment due notice to disaster victims until 60 days after the... Read More »

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]]> More disaster tax relief legislation enacted https://spidell.com/news/hot-news-and-notes/more-disaster-tax-relief-legislation-enacted/ Mon, 05 Jan 2026 19:00:00 +0000 https://spidell.com/?p=671463 President Trump has signed the Disaster Related Extension of Deadlines Act (HR 1491), which makes two key changes for disaster victims. The act: Extends the statute of limitations period for disaster victims to file a refund claim; and Prohibits the IRS from mailing a payment due notice to disaster victims until 60 days after the... Read More »

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]]> Podcast: California nonconformity to business meals deductibility https://spidell.com/news/podcast/podcast-california-nonconformity-to-business-meals-deductibility/ Sat, 03 Jan 2026 00:29:57 +0000 https://spidell.com/?p=670842 This week we’re covering California nonconformity to the federal rules for business meals and entertainment. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_01-04-26.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/california-nonconformity-to-business-meals-deductibility/

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]]> 2025-81: Passenger vehicle loan interest deduction guidance released https://spidell.com/news/flash-email/2025-81-passenger-vehicle-loan-interest-deduction-guidance-released/ Wed, 31 Dec 2025 21:13:36 +0000 https://spidell.com/?p=670240 Proposed regulations clarify the eligibility requirements for the new IRC §163(h)(4) deduction for interest paid on qualified passenger loan vehicles purchased for personal use that is available for the 2025 through 2028 tax years. (REG-113515-25) The deduction is capped at $10,000 annually and is subject to phaseout for taxpayers with modified AGI above $150,000 ($250,000 MFJ).... Read More »

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]]> Passenger vehicle loan interest deduction guidance released https://spidell.com/news/hot-news-and-notes/passenger-vehicle-loan-interest-deduction-guidance-released/ Wed, 31 Dec 2025 21:13:30 +0000 https://spidell.com/?p=670241 Proposed regulations clarify the eligibility requirements for the new IRC §163(h)(4) deduction for interest paid on qualified passenger loan vehicles purchased for personal use that is available for the 2025 through 2028 tax years. (REG-113515-25) The deduction is capped at $10,000 annually and is subject to phaseout for taxpayers with modified AGI above $150,000 ($250,000 MFJ).... Read More »

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]]> 2025-80: IRS releases 2026 optional standard mileage rates https://spidell.com/news/flash-email/2025-80-irs-releases-2026-optional-standard-mileage-rates/ Wed, 31 Dec 2025 16:13:47 +0000 https://spidell.com/?p=670024 Beginning January 1, 2026, the standard mileage rates for the use of a car, van, pickup truck, or panel truck are: 72.5 cents per mile driven for business use, up 2.5 cents from 2025; 20.5 cents per mile driven for medical purposes, down 0.5 cents from 2025; 20.5 cents per mile for moving purposes for... Read More »

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]]> IRS releases 2026 optional standard mileage rates https://spidell.com/news/hot-news-and-notes/irs-releases-2026-optional-standard-mileage-rates/ Wed, 31 Dec 2025 16:13:31 +0000 https://spidell.com/?p=670025 Beginning January 1, 2026, the standard mileage rates for the use of a car, van, pickup truck, or panel truck are: 72.5 cents per mile driven for business use, up 2.5 cents from 2025; 20.5 cents per mile driven for medical purposes, down 0.5 cents from 2025; 20.5 cents per mile for moving purposes for... Read More »

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]]> Podcast: Trump account FAQs https://spidell.com/news/fedtaxminute/podcast-trump-account-faqs/ Tue, 30 Dec 2025 00:55:19 +0000 https://spidell.com/?p=669015 This week we’re covering a list of FAQs that we have received from tax professionals regarding Trump accounts. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_12-30-25.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-trump-account-faqs/

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]]> Podcast: How to become a California nonresident https://spidell.com/news/podcast/podcast-how-to-become-a-california-nonresident-3/ Tue, 23 Dec 2025 22:40:03 +0000 https://spidell.com/?p=666774 This week we’re covering tips for truly becoming a nonresident, as well as things not to do when trying to change residency. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_12-28-25.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-how-to-become-a-california-nonresident-12-28-25/

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]]> Podcast: Understanding the annual and lifetime gift tax limits https://spidell.com/news/fedtaxminute/podcast-understanding-the-annual-and-lifetime-gift-tax-limits/ Tue, 23 Dec 2025 00:24:16 +0000 https://spidell.com/?p=666358 This week we’re covering categories of gifting that don’t apply to the annual and lifetime gift tax exclusions. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_12-23-25.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-understanding-the-annual-and-lifetime-gift-tax-limits

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]]> 2025-79: Executive Order reclassifies cannabis as Schedule III drug https://spidell.com/news/flash-email/2025-79-executive-order-reclassifies-cannabis-as-schedule-iii-drug/ Mon, 22 Dec 2025 23:01:54 +0000 https://spidell.com/?p=666299 President Trump issued an Executive Order directing the Attorney General to take all necessary steps to complete the rulemaking process related to rescheduling cannabis from a Schedule I drug to a Schedule III drug under the Controlled Substances Act (CSA). Rescheduling cannabis as a Schedule III drug is significant for taxpayers involved in the cannabis... Read More »

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]]> Executive Order reclassifies cannabis as Schedule III drug https://spidell.com/news/hot-news-and-notes/executive-order-reclassifies-cannabis-as-schedule-iii-drug/ Mon, 22 Dec 2025 23:01:28 +0000 https://spidell.com/?p=666300 President Trump issued an Executive Order directing the Attorney General to take all necessary steps to complete the rulemaking process related to rescheduling cannabis from a Schedule I drug to a Schedule III drug under the Controlled Substances Act (CSA). Rescheduling cannabis as a Schedule III drug is significant for taxpayers involved in the cannabis... Read More »

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]]> Podcast: Do California’s economic nexus thresholds mean anything? https://spidell.com/news/podcast/podcast-do-californias-economic-nexus-thresholds-mean-anything/ Sat, 20 Dec 2025 01:14:45 +0000 https://spidell.com/?p=665848 This week we’re covering the purpose of the economic nexus thresholds when taxpayers who fall below the thresholds are still being determined to be doing business in California. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_12-21-25.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-do-californias-economic-nexus-thresholds-mean-anything

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]]> Podcast: New forms on the block: IRS form changes and releases https://spidell.com/news/fedtaxminute/podcast-new-forms-on-the-block-irs-form-changes-and-releases/ Tue, 16 Dec 2025 00:43:50 +0000 https://spidell.com/?p=664421 This week we’re covering some of the new and updated forms for 2025 and 2026 following the enactment of the One Big Beautiful Bill Act. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_12-16-25.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-new-forms-on-the-block-irs-form-changes-and-releases

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]]> Podcast: CalSavers: Household employers, employee owners, and more https://spidell.com/news/podcast/podcast-calsavers-household-employers-employee-owners-and-more/ Fri, 12 Dec 2025 19:57:35 +0000 https://spidell.com/?p=663715 This week we’re covering the top 10 things to know about filing Form 540 for 2025. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_12-14-25.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-calsavers-household-employers-employee-owners-and-more

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]]> Podcast: IRS issues guidance on Trump Accounts https://spidell.com/news/fedtaxminute/podcast-irs-issues-guidance-on-trump-accounts/ Mon, 08 Dec 2025 23:52:41 +0000 https://spidell.com/?p=662196 This week, we’re covering new guidance released on setting up and administering new Trump accounts. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_12-09-25.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-irs-issues-guidance-on-trump-accounts

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]]> Podcast: Top 10 “must know” tips for filing 2025 Form 540 https://spidell.com/news/podcast/podcast-top-10-must-know-tips-for-filing-2025-form-540/ Sat, 06 Dec 2025 00:28:20 +0000 https://spidell.com/?p=661512 This week we’re covering the top 10 things to know about filing Form 540 for 2025. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_12-07-25.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-top-10-must-know-tips-for-filing-2025-form-540

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]]> 2025-78: Initial guidance on Trump accounts released https://spidell.com/news/flash-email/2025-78-initial-guidance-on-trump-accounts-released/ Wed, 03 Dec 2025 00:55:11 +0000 https://spidell.com/?p=659747 New guidance regarding Trump accounts, which were enacted by the One Big, Beautiful Bill Act (OBBBA), has been issued by the IRS. (IRS Notice 2025-68) These accounts are essentially traditional IRA-type accounts established for U.S. citizen children under the age of 18. However, there are different rules as to what and how much can be contributed,... Read More »

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]]> Initial guidance on Trump accounts released https://spidell.com/news/hot-news-and-notes/initial-guidance-on-trump-accounts-released/ Wed, 03 Dec 2025 00:54:57 +0000 https://spidell.com/?p=659748 New guidance regarding Trump accounts, which were enacted by the One Big, Beautiful Bill Act (OBBBA), has been issued by the IRS. (IRS Notice 2025-68) These accounts are essentially traditional IRA-type accounts established for U.S. citizen children under the age of 18. However, there are different rules as to what and how much can be contributed,... Read More »

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]]> Podcast: Year-end considerations for HSAs and FSAs https://spidell.com/news/fedtaxminute/podcast-year-end-considerations-for-hsas-and-fsas-2/ Tue, 02 Dec 2025 00:33:22 +0000 https://spidell.com/?p=658958 This week we’re covering things to consider regarding HSAs and FSAs before the end of the year. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_12-01-25.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-year-end-considerations-for-hsas-and-fsas-2/

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]]> 2025-77: President signs MATH Act https://spidell.com/news/flash-email/2025-77-president-signs-math-act/ Mon, 01 Dec 2025 22:06:31 +0000 https://spidell.com/?p=658786 The Internal Revenue Service Math and Taxpayer Help Act (MATH Act; H.R. 998), which requires that the IRS provide specific information when it makes a tax return change due to a math or clerical error, was signed by President Trump on November 25, 2025. Previously, when the IRS made a change to a taxpayer’s return due... Read More »

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]]> President signs MATH Act https://spidell.com/news/hot-news-and-notes/president-signs-math-act/ Mon, 01 Dec 2025 22:06:18 +0000 https://spidell.com/?p=658789 The Internal Revenue Service Math and Taxpayer Help Act (MATH Act; H.R. 998), which requires that the IRS provide specific information when it makes a tax return change due to a math or clerical error, was signed by President Trump on November 25, 2025. Previously, when the IRS made a change to a taxpayer’s return due... Read More »

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]]> Podcast: Remember California no longer requires entities to dissolve by December 31 https://spidell.com/news/podcast/podcast-remember-california-no-longer-requires-entities-to-dissolve-by-december-31-2/ Wed, 26 Nov 2025 22:39:54 +0000 https://spidell.com/?p=657903 This week we’re talking about tax planning for dissolutions that happen at the end of the year. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_11-30-25.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-remember-california-no-longer-requires-entities-to-dissolve-by-december-31

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]]> Podcast: The benefits of employee emergency savings accounts https://spidell.com/news/fedtaxminute/podcast-the-benefits-of-employee-emergency-savings-accounts/ Tue, 25 Nov 2025 00:24:56 +0000 https://spidell.com/?p=657254 This week we’re covering employee emergency savings accounts and how these accounts operate. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_11-25-25.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-the-benefits-of-employee-emergency-savings-accounts

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]]> Podcast: Year-end tax planning strategies https://spidell.com/news/podcast/podcast-year-end-tax-planning-strategies/ Fri, 21 Nov 2025 23:12:04 +0000 https://spidell.com/?p=656661 This week we’re covering important end-of-year tax-saving opportunities that your clients won’t want to miss out on. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_11-23-25.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-year-end-tax-planning-strategies

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]]> 2025-76: Tip and overtime deduction guidance for individual taxpayers https://spidell.com/news/flash-email/2025-76-tip-and-overtime-deduction-guidance-for-individual-taxpayers/ Fri, 21 Nov 2025 21:29:54 +0000 https://spidell.com/?p=656610 Today, the IRS issued guidance and transitional relief for individual taxpayers to calculate the new OBBBA deductions for qualified tips and overtime. (Notice 2025-69) This guidance follows the guidance previously issued via IR-2025-82 and Notice 2025-62, which provided similar information for employers and issuers of Forms 1099. All of this special guidance and transition relief is... Read More »

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]]> Tip and overtime deduction guidance for individual taxpayers https://spidell.com/news/hot-news-and-notes/tip-and-overtime-deduction-guidance-for-individual-taxpayers/ Fri, 21 Nov 2025 21:29:39 +0000 https://spidell.com/?p=656611 Today, the IRS issued guidance and transitional relief for individual taxpayers to calculate the new OBBBA deductions for qualified tips and overtime. (Notice 2025-69) This guidance follows the guidance previously issued via IR-2025-82 and Notice 2025-62, which provided similar information for employers and issuers of Forms 1099. All of this special guidance and transition relief is... Read More »

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]]> 2025-75: 2026 inflation-adjusted Medicare amounts announced https://spidell.com/news/flash-email/2025-75-2026-inflation-adjusted-medicare-amounts-announced/ Mon, 17 Nov 2025 23:34:55 +0000 https://spidell.com/?p=654977 The 2026 inflation-adjusted Medicare amounts have been announced. (U.S. Centers for Medicare and Medicaid Services Fact Sheet) For those with modified AGI of less than $109,000 ($218,000 MFJ), the Part B monthly premium amount will be $202.90. For those with modified AGI greater than $500,000 ($750,000 MFJ) the Part B monthly premium amount will be... Read More »

The post 2025-75: 2026 inflation-adjusted Medicare amounts announced appeared first on Spidell.

]]> 2026 inflation-adjusted Medicare amounts announced https://spidell.com/news/hot-news-and-notes/2026-inflation-adjusted-medicare-amounts-announced/ Mon, 17 Nov 2025 23:34:37 +0000 https://spidell.com/?p=654978 The 2026 inflation-adjusted Medicare amounts have been announced. (U.S. Centers for Medicare and Medicaid Services Fact Sheet) For those with modified AGI of less than $109,000 ($218,000 MFJ), the Part B monthly premium amount will be $202.90. For those with modified AGI greater than $500,000 ($750,000 MFJ) the Part B monthly premium amount will be... Read More »

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]]> Podcast: New and updated Form 1099-K FAQs https://spidell.com/news/fedtaxminute/podcast-new-and-updated-form-1099-k-faqs/ Mon, 17 Nov 2025 20:06:45 +0000 https://spidell.com/?p=654825 This week, we’re covering new and updated Form 1099-K FAQs that the IRS recently released. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_11-18-25.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-new-and-updated-form-1099-k-faqs/

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]]> Podcast: California conformity, or lack thereof, just got a lot more complicated https://spidell.com/news/podcast/podcast-california-conformity-or-lack-thereof-just-got-a-lot-more-complicated/ Fri, 14 Nov 2025 20:14:20 +0000 https://spidell.com/?p=653846 This week we’re looking at various provisions that California now does or does not conform to following the passage of SB 711. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_11-16-25.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-california-conformity-or-lack-thereof-just-got-a-lot-more-complicated/

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]]> 2025-74: FUTA rate waiver approved, avoiding large increase https://spidell.com/news/flash-email/2025-74-futa-rate-waiver-approved-avoiding-large-increase/ Thu, 13 Nov 2025 22:59:27 +0000 https://spidell.com/?p=653089 Because California borrowed close to $18 billion in 2020 from the federal government to pay unemployment benefits during the COVID-19 pandemic and has yet to pay it off, employers face an additional 0.3% credit rate reduction (a.k.a. rate increase) for 2025, which will be paid by employers in 2026. This means for the 2025 tax... Read More »

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]]> FUTA rate waiver approved, avoiding large increase https://spidell.com/news/hot-news-and-notes/futa-rate-waiver-approved-avoiding-large-increase/ Thu, 13 Nov 2025 22:59:14 +0000 https://spidell.com/?p=653090 Because California borrowed close to $18 billion in 2020 from the federal government to pay unemployment benefits during the COVID-19 pandemic and has yet to pay it off, employers face an additional 0.3% credit rate reduction (a.k.a. rate increase) for 2025, which will be paid by employers in 2026. This means for the 2025 tax... Read More »

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]]> 2025-73: Inflation-adjusted retirement figures released for 2026 tax year https://spidell.com/news/flash-email/2025-73-inflation-adjusted-retirement-figures-released-for-2026-tax-year/ Thu, 13 Nov 2025 17:26:28 +0000 https://spidell.com/?p=652501 Inflation-adjusted retirement figures for 2026 have been announced by the IRS in Notice 2025-67. Key adjustments contained in the notice include, but are not limited to: The IRA contribution limit and catch-up contribution limit is increased from $7,000 to $7,500 and from $1,000 to $1,100, respectively. Also included in the Notice are the increased income phase-out... Read More »

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]]> Inflation-adjusted retirement figures released for 2026 tax year https://spidell.com/news/hot-news-and-notes/inflation-adjusted-retirement-figures-released-for-2026-tax-year/ Thu, 13 Nov 2025 17:25:23 +0000 https://spidell.com/?p=652503 Inflation-adjusted retirement figures for 2026 have been announced by the IRS in Notice 2025-67. Key adjustments contained in the notice include, but are not limited to: The IRA contribution limit and catch-up contribution limit is increased from $7,000 to $7,500 and from $1,000 to $1,100, respectively. Also included in the Notice are the increased income phase-out... Read More »

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]]> Podcast: Draft Forms 1099-NEC, 1099-MISC, and 1099-K and transition relief https://spidell.com/news/fedtaxminute/podcast-draft-forms-1099-nec-1099-misc-and-1099-k-and-transition-relief/ Mon, 10 Nov 2025 19:22:30 +0000 https://spidell.com/?p=650860 This week we’re covering draft 1099 forms with new lines for certain OBBBA deductions, and transition relief for reporting tip and overtime compensation for 2025. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_11-11-25.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/draft-forms-1099-nec-1099-misc-and-1099-k-and-transition-relief/

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]]> Podcast: Reduce tax caused by California’s SDI wage base elimination https://spidell.com/news/podcast/podcast-reduce-tax-caused-by-californias-sdi-wage-base-elimination/ Fri, 07 Nov 2025 22:15:16 +0000 https://spidell.com/?p=650139 This week we’re covering ways to reduce tax caused by the elimination of California’s SDI wage base. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_11-09-25.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: https://spidell.com/research/california-taxletter/podcast-transcripts/podcast-reduce-tax-caused-by-californias-sdi-wage-base-elimination/

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]]> 2025-72: Transition relief for qualified tips and qualified overtime deductions https://spidell.com/news/flash-email/2025-72-transition-relief-for-qualified-tips-and-qualified-overtime-deductions/ Wed, 05 Nov 2025 21:44:06 +0000 https://spidell.com/?p=649215 Early today, the IRS issued Notice 2025-62, which provides transition relief for issuers of Forms W-2, 1099-NEC, 1099-MISC, and 1099-K with respect to mandatory reporting of tip and overtime compensation under the One Big, Beautiful Bill Act (OBBBA). The transition relief is available for the 2025 taxable year only. The notice provides that employers and... Read More »

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]]> Transition relief for qualified tips and qualified overtime deductions https://spidell.com/news/hot-news-and-notes/transition-relief-for-qualified-tips-and-qualified-overtime-deductions/ Wed, 05 Nov 2025 21:43:51 +0000 https://spidell.com/?p=649216 Early today, the IRS issued Notice 2025-62, which provides transition relief for issuers of Forms W-2, 1099-NEC, 1099-MISC, and 1099-K with respect to mandatory reporting of tip and overtime compensation under the One Big, Beautiful Bill Act (OBBBA). The transition relief is available for the 2025 taxable year only. The notice provides that employers and... Read More »

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]]> Podcast: California now conforms to TCJA alimony rules https://spidell.com/news/podcast/podcast-california-now-conforms-to-tcja-alimony-rules/ Fri, 31 Oct 2025 22:28:26 +0000 https://spidell.com/?p=647442 This week we’re covering California’s recent conformity to TCJA alimony provisions, and which taxpayers are affected. To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_11-02-25.mp3 Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/popcast-california-now-conforms-to-tcja-alimony-rules

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]]> Podcast: Trump accounts and their alternatives: which is best? https://spidell.com/news/fedtaxminute/podcast-trump-accounts-and-their-alternatives-which-is-best/ Fri, 31 Oct 2025 17:45:55 +0000 https://spidell.com/?p=647082 This week we’re comparing Trump accounts to some alternative investment accounts for children under the age of 18. To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_11-04-25.mp3 Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-trump-accounts-and-their-alternatives-which-is-best

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]]> 2025-71: EDD revises payroll deposit schedule thresholds https://spidell.com/news/flash-email/2025-71-edd-revises-payroll-deposit-schedule-thresholds/ Tue, 28 Oct 2025 17:40:23 +0000 https://spidell.com/?p=645844 The EDD has informed Spidell that due to inflation adjustments, beginning January 1, 2026, the California personal income tax deposit (PIT) threshold will be reduced from $500 to $400 for next-day and semi-weekly deposits. A taxpayer’s deposit schedule (e.g., next-day, semi-weekly, etc.) is based on the taxpayer’s federal deposit schedule, but the threshold amounts are... Read More »

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]]> EDD revises payroll deposit schedule thresholds https://spidell.com/news/hot-news-and-notes/edd-revises-payroll-deposit-schedule-thresholds/ Tue, 28 Oct 2025 17:40:02 +0000 https://spidell.com/?p=645843 The EDD has informed Spidell that due to inflation adjustments, beginning January 1, 2026, the California personal income tax deposit (PIT) threshold will be reduced from $500 to $400 for next-day and semi-weekly deposits. A taxpayer’s deposit schedule (e.g., next-day, semi-weekly, etc.) is based on the taxpayer’s federal deposit schedule, but the threshold amounts are... Read More »

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