The Tax Professionals Blog

Lee Reams Sr., BSME, EA

Highlights of Internal Revenue Bulletin 2025-17...

This article covers key highlights from IRB 2025-17, including input on the 2025-2026 Priority Guidance Plan.

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Lee Reams Sr., BSME, EA

Taxable Value of Noncash Prizes

Winning a noncash prize is exciting—but it’s not tax-free. Learn how the IRS determines the fair market value of prizes, and how winners can dispute overvalued 1099-MISC amounts.

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Lee Reams Sr., BSME, EA

Highlights of Internal Revenue Bulletin 2025-16...

New IRS bulletin updates 2025 state housing credit limits and sets fringe benefit valuations for employer aircraft use using updated SIFL rates. 

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Lee Reams Sr., BSME, EA

Lease Buy Out

Can a lease buyout be tax-free? In this article, we break down IRS Code Sec. 61 and key case law to determine if cash and free rent from a lease...

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Lee Reams Sr., BSME, EA

Highlights of Internal Revenue Bulletin 2025-15...

Highlights from IRS Bulletin 2025-15 include April federal rates and the annual Advance Pricing Agreement Program report for calendar year 2024.

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Lee Reams Sr., BSME, EA

Sick Pay

Is sick pay taxable? It depends! Learn how employer vs. employee-funded sick pay affects taxes, W-2 reporting, and payroll withholdings. Plus, key details on third-party sick pay.

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