The Tax Professionals Blog

In this article, we cover how the IRS distinguishes between gifts and compensation, what counts as a de minimis fringe benefit, and why holiday hams don’t count as taxable income.

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

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.

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

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 surrender count as taxable capital gain income.