The Tax Professionals Blog
Highlights of Internal Revenue Bulletin 2025-34 – 8/18/2025
Posted by Lee Reams Sr., BSME, EA on
IRS Bulletin 2025-34 announces revised CAMT guidance for partnerships and adds 21 chemical substances to the excise tax list under §4672.
OBBBA No Tax on Overtime
Posted by Lee Reams Sr., BSME, EA on
The OBBBA allows eligible taxpayers to deduct qualified overtime pay from 2025–2028. Learn the limits, MAGI phaseouts, and rules to maximize this above-the-line deduction.
Highlights of Internal Revenue Bulletin 2025-33 – 8/11/2025
Posted by Lee Reams Sr., BSME, EA on
IRS Bulletin 2025-33 updates employer shared responsibility payment amounts under IRC section 4980H. See the new indexed figures and how they affect 2025 compliance.
OBBBA No Tax on Tips
Posted by Lee Reams Sr., BSME, EA on
The OBBBA now offers a deduction for qualified tips up to $25K, with AGI limits, reporting rules, and exclusions. See if you or your clients qualify from 2025–2028.
Highlights of Internal Revenue Bulletin 2025-32 – 8/4/2025
Posted by Lee Reams Sr., BSME, EA on
IRS Bulletin 2025-32 covers retirement plan check guidance, estate tax letter fee changes, exempt org revocations, and 2026 premium tax credit adjustments.