Supreme Court Lets Nonprofits Pre‑empt Donor Subpoena Harms
A recent Supreme Court ruling says nonprofits can challenge donor-info subpoenas before enforcement because the harm may already be occurring. Here’s why → https://t.co/zBhjQcufZb
Free Guide: Latest Tax Breaks From ERC to 1031
New Tax Breaks is out (free, no paywall) 📬 From ERC relief to nonprofit scrutiny to a deep dive on 1031 exchanges, here’s what you need to know 🧵👇
IRS May Tighten Form 990 Reporting for Nonprofits
The IRS is eyeing changes to Form 990—and nonprofits could see more reporting requirements ahead. Focus areas: fiscal sponsorship + government funding. Details are still developing → https://t.co/IyKZzykAJY
This Week's Tax & Investment Tips You Need
Inside this week’s newsletter: ⏰ A court case could give taxpayers more time to claim refunds 💸 How to pay IRS 📊 ETF workarounds & wash sale rules 🏦 Mega Backdoor Roth strategy 🎓 Tax-free student loan help from employers 💒 Filing under common law https://t.co/OD4Rr2mxtt
Court Ruling May Void COVID IRS Penalties, Claim Refund
A court ruling (Kwong) could mean that COVID-era IRS deadlines were paused, some penalties/interest may not have been valid & you may be able to claim a refund. ⏰ Deadline: 07/10/26 ⚠️ Likely appeal—consider filing a protective claim Worth a look: https://t.co/gOvV9Lmucl
Can't Pay Taxes? Explore Free IRS Payment Options
Filed your taxes but can’t pay? You’ve got options. ➡️IRS Direct Pay (free) ➡️Payment plans ➡️Offer in Compromise (sometimes) Not sure what fits? Try the IRS Tax Debt Help tool—it walks you through your options. No login. No personal info required. More: https://t.co/4C7lp1Enk5
Employer‑Paid Education Benefits Up to $5,250 Tax‑Free
Hidden tax perk -> Employers can pay up to $5,250/year toward: 🎓 Tuition 📚 Education expenses 💸 Student loans And it’s tax-free. No income tax. No payroll tax. Worth checking if your employer offers it. https://t.co/0QyFOcW3cM #TaxTips #StudentLoans
File Now—Penalty for Not Filing Beats Penalty for Not Paying
Missed Tax Day? File anyway. Failure-to-file penalties > failure-to-pay penalties. Even if you can’t pay yet, filing today can save you money.
Tax Pros Spreading Misinformation Discourages Needed Extensions
Misinformation is one of the biggest drivers in the pushback against extensions. And sometimes? It's perpetuated by tax pros. I have several taxpayers who need an extension bc of their situation (think FBAR, estates, etc.). Other tax pros are trying to scare...
IRS Updates Schedule D Line 21 Instructions (2018‑2024)
From IRS: Correction to the 2018 through 2024 Instructions for Schedule D (Form 1040), Line 21 (Yes, really, 2018 to 2024.) H/T: F. Bronstein https://t.co/7hLAdjavnf
IRS Clarifies $25K Tip Deduction, Adds Santa Impersonators
The IRS finalized “no tax on tips” regs—and clarified who qualifies. Yes, up to $25K in tips can be deducted. But only for certain occupations (now defined), and only for voluntary, reported tips. Santa Claus impersonators made the list. Did your job? 👀 https://t.co/q1z55eZskn
IRS CI Chief Retires as Agents Return to Tax Enforcement
@IRS_CI Chief Guy Ficco is stepping down after 30+ years. But the bigger story: at one point, ~1,700 CI employees were reassigned away from tax enforcement. Now, agents are being pulled back to financial crime work. More: https://t.co/v4CZbQhHtf
Extend Your 2025 Tax Deadline, Pay Owed Now
Not ready to file your 2025 tax return? Here’s how to buy yourself six more months, and why you still need to pay what you owe now. https://t.co/SdcqhDVk3f
Avoid Common Tax Mistakes: Verify SSN, Status, Credits
Before you file: Double-check your SSNs Use the right filing status Don’t guess on credits And yes… sign (or e-sign) your return 😅 11 common tax mistakes (and how to avoid them): https://t.co/C5YSDcUi2P
IRS Expands Business Tax Account to More Entities
The IRS just expanded its Business Tax Account 👀 Access is now available to partnerships , tax-exempts , and gov’t entities. The goal is less paper, fewer calls. (I'm a big fan.) Details: https://t.co/TEyOyvkOwg