In our recent blog posts, we covered the federal impact of the One Big Beautiful Bill Act (OBBBA). In this post, we turn to how these federal changes interact with state tax systems—specifically whether each state chooses to conform to or decouple from the new federal provisions. A state’s tax impact depends on two factors:
As we wrap up another year and prepare our checklists for 2026 tax season, it turns out the IRS has been working on its own New Year’s resolutions. And no, it’s not planning to “eat healthier” — but it is promising to be more forgiving. Thanks to the One Big Beautiful Bill Act (OBBBA), one
When Congress passed the American Rescue Plan Act (ARPA) in 2021, it lowered the Form 1099-K reporting threshold to $600 — with no transaction minimum. That rule, even if delayed several times, would have drastically expanded the number of Forms 1099-K issued, pulling in even casual transactions like splitting rent or selling used personal items.
If you are a reader of our blog, you are familiar some of the high-profile tax breaks from the One, Big, Beautiful Bill Act (OBBBA) such as extensions of TCJA (Tax Cuts and Jobs Act) provisions, an expanded SALT (State And Local Taxes) deduction cap, and even new benefits for tips and overtime. However, one
