The Tax Professionals Blog

Lee Reams Sr., BSME, EA

Highlights of Internal Revenue Bulletin 2025-45...

Highlights from IRS Bulletin 2025-44: guidance on vehicle loan interest reporting, updated PCORTF fees, and inflation-adjusted items for 2026 under the One Big Beautiful Bill Act.

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Lee Reams Sr., BSME, EA

Renter Lease Buy-Out

Learn how lease buy-outs are taxed under IRC Sections 61, 1221, and 1231. Understand capital gain treatment and key strategies for landlords and tenants.

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Lee Reams Sr., BSME, EA

Highlights of Internal Revenue Bulletin 2025-44...

IRS Bulletin 2025-44 highlights CAMT interim guidance and new rules for 2025 substitute forms and schedules under Rev. Proc. 2025-27.

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Lee Reams Sr., BSME, EA

General Welfare Exclusion

Some government payments aren’t taxable under the General Welfare Exclusion. Learn how this rule helps reduce taxable income and supports financial well-being.

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Lee Reams Sr., BSME, EA

Highlights of Internal Revenue Bulletin 2025-43...

IRS Bulletin 2025-43 is out! Get updates on Corporate AMT guidance, excise tax deposit relief, rural area definitions, housing credit regs, and Israel relief extensions.

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Lee Reams Sr., BSME, EA

Lemon Law

Tax pros: Lemon Law settlements can trigger complex tax issues. Learn how to separate taxable from non-taxable proceeds, handle legal fees, and adjust deductions or EV credits accurately.

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