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

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One Big Beautiful Bill Tax Provisions The One Big Beautiful Bill includes the following significant federal income tax provisions. This would provide that an amended return be filed for 2022, and 2023. If a 2024 tax return has already been filed, then an amendment would be required.

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CPAs to Clients: The IRS is Coming for Cryptocurrency

CPA Practice

The federal agency launched Operation Hidden Treasure in 2021, for example, to root out taxpayers who fail to report income from cryptocurrency transactions on their federal tax returns. The IRS is looking for unreported assets,” said Lucas Rihely, a tax partner at H2R CPA. And that’s just the beginning.

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House Ways and Means Committee Introduces Potential Tax Extender Bill

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The Build It In America Act (HR 3938) addresses business taxpayer concerns regarding rising interest expense rates and deduction limitations on research and experimental expenditures, which could lead to drastically increased cash federal income tax payments. billion in 2031.

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