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IRS Encourages Taxpayers to Create an Online Account
The IRS is continuing to expand its digital services and is strongly encouraging individual taxpayers to create an IRS Online Account. This recommendation was recently outlined in IRS Bulletin IR-2026-21, which details how to create an account and the benefits of doing so.
Michigan Encourages Taxpayers to Create a MI Online Account
In addition to the IRS’s expanded online services, the State of Michigan is also encouraging taxpayers to set up and use Michigan Online Accounts (MI Open Accounts). This initiative is designed to improve secure access to tax information and support electronic payments and correspondence. According to a recent announcement from the Michigan Department of Insurance and Financial Services (DIFS),
New Tax Benefit for Vehicle Buyers in 2025
Thinking about financing a car? Here’s a new tax rule you should look out for. Effective starting 2025 through 2028, the One Big Beautiful Bill Act (OBBBA) introduces a tax deduction that could be beneficial for those buying a new car. Under this new rule, taxpayers may deduct up to $10,000 per year on car loan interests on their federal
R&D Tax Changes Under the OBBB: What Businesses Need to Know
The One Big Beautiful Bill Act (OBBB), signed into law on July 4, 2025, brings significant changes to the tax treatment of Research and Development (R&D) expenses under Section 174 of the Internal Revenue Code (IRC). For businesses engaged in innovation, particularly in technology, biotech, and manufacturing, these changes offer substantial opportunities to optimize tax strategies and improve cash flow.
The Next Step in Tax Modernization: Federal Payments Go Digital
The tax world has been steadily moving toward modernization for years. E-filing is now second nature, digital signatures have replaced stacks of paperwork, and online accounts give taxpayers instant access to their records. Now, the federal government is taking the next big step—payments to and from the government are going digital. Executive Order In March 2025, President Trump signed an
OBBBA and Employer Responsibilities: Preparing for New Tip and Overtime Deductions
The One Big Beautiful Bill Act (OBBBA) introduces significant new deductions for workers beginning in tax year 2025: A deduction of up to $25,000 for qualified tips in certain occupations A deduction of up to $12,500 ($25,000 for joint filers) for the overtime premium portion of pay While these benefits are welcome for employees, the way they are being rolled