The Tax Professionals Blog
Passenger Vehicle Loan Interest
Learn the fine print behind the new passenger vehicle loan interest deduction—tight eligibility, MAGI limits, and U.S. assembly rules make this benefit tougher to claim than it appears.
Read MoreHighlights of Internal Revenue Bulletin 2025-40...
In this week’s IRS Bulletin 2025-40: new guidance on catch-up contributions under SECURE 2.0, updated August bond rates, and a list of revoked 501(c)(3) organizations.
Read MoreAdoption Credit
Adopting in 2025? You may qualify for up to $17,280 in tax credits! A new $5,000 refundable option makes it easier for families to benefit. Learn about eligibility, expenses, and...
Read MoreHighlights of Internal Revenue Bulletin 2025-39...
Key highlights from IRS Internal Revenue Bulletin 2025-39, including withdrawn proposed regulations under IRC Section 6103(n) and administrative updates.
Read MoreOBBBA Student Loan Discharge
In this release, learn how OBBBA makes discharged student loans for death or total disability tax-free after 2025, provided Social Security number rules are met.
Read MoreOBBBA & ABLE Accounts
The OBBBA strengthens ABLE accounts starting in 2026, permanently allowing extra contributions, expanding eligibility to age 46, and updating annual limits for inflation.
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