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Congress Passes One Big Beautiful Bill – President to Sign on July 4

Withum

One Big Beautiful Bill Tax Provisions The One Big Beautiful Bill includes the following significant federal income tax provisions. If a 2024 tax return has already been filed, then an amendment would be required. The Senate bill adds an additional $1 trillion more than the original House bill proposed.

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Year-End Tax Strategies for Businesses

Withum

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. Please work with your tax advisor for future planning.

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New York Governor Signs 2025-2026 Budget That Includes Business Tax Hikes

Withum

While there are no major tax changes in the budget bill, several items are worthy of note for taxpayers. Including a payroll tax hike and new rules related to partnership audits. Below is a summary of some of the more important tax changes. However, certain smaller employers will receive a 50% reduction in their payroll taxes.

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Georgia Tax Preparer Guilty of Filing $3 Million in Fraudulent Returns

CPA Practice

27)—A tax preparer who admitted to filing more than $3 million in fraudulent tax returns on behalf of her clients is facing up to 30 years in prison for her crime. Crawford is not representative of most tax preparers who provide honest services to their clients. (TNS) ATHENS, GA (Nov.

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Washington Hikes B&O and Sales Tax to Fill Budget Gap

Withum

Bob Ferguson recently signed several pieces of legislation enacting significant tax hikes to both the state’s Business and Occupation and the Sales and Use taxes. The definition of “sale at retail” in RCW 82.04.050 is amended to include “advertising services.” As such, the actual enactment of this tax may be delayed.

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Tax Fraud Blotter: Negative waves

Accounting Today

EDT 5 Min Read Facebook Twitter LinkedIn Email Seeking shelter; please be Gentle; where the heart is; and other highlights of recent tax cases. Nixa, Missouri: Tax preparer Tina Louise Yager has pleaded guilty to making false and fictitious claims against the U.S. million in taxes on income he earned from his business.

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Update Regarding Beneficial Ownership Information Reporting

Withum

The Corporate Transparency Act (CTA) , enacted in 2021, requires more than 33 million small businesses to register with FinCEN between January 1, 2024 and December 31, 2024. Contact Us Please reach out to Withums Tax Services Team if you have any questions about your BOI reporting obligation.

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