The Tax Professionals Blog

Highlights of Internal Revenue Bulletin 2025-2 – 1/6/2025

Posted by Lee Reams Sr., BSME, EA on

In IRS Bulletin 2025-2, learn about RMD regulation updates, corrections to prior announcements, and key income tax clarifications. Essential insights for tax professionals. 

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Homeowner Association Dues

Posted by Lee Reams Sr., BSME, EA on

Can you deduct HOA dues? It depends! Discover how property use impacts deductions for rental income, home office, real estate taxes, and more.

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Highlights of Internal Revenue Bulletin 2025-1 – 12/30/2024

Posted by Lee Reams Sr., BSME, EA on

Discover the latest IRS rulings and procedures in IRB 2025-1, including updates on administrative guidance, employee plans, exempt organizations, and technical advice.

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Beneficial Owner Reporting Injunction

Posted by Lee Reams Sr., BSME, EA on

A nationwide injunction temporarily halts enforcement of the Corporate Transparency Act, delaying Beneficial Ownership Information reporting. Tax pros must stay informed as the case progresses.

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Highlights of Internal Revenue Bulletin 2024-52 – 12/23/2024

Posted by Lee Reams Sr., BSME, EA on

Dive into the latest IRS Internal Revenue Bulletin 2024-52. Learn about tax reform updates, employee plan changes, and new energy credit regulations shaping the 2024 tax landscape.

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