April 27, 2026 We are sure many of you have already completed 2025 form 1099 issuance. The One Big Beautiful Bill Act (OBBBA), enacted on July 4, 2025, brings a significant update to federal information‑reporting rules in upcoming year. These changes affect when businesses must issue Form 1099‑MISC, Form 1099‑NEC, and apply backup withholding. The new law is designed to reduce administrative burdens for small and mid‑sized businesses while modernizing long‑standing reporting

January 8, 2026 Standard mileage rate for the use of a car (also vans, pickups or panel trucks) was updated effective on January 1, 2026 as the table below. * Federal law only allows a moving expense deduction for active-duty military Businesses generally can deduct the entire cost of operating a vehicle for business purposes. Alternatively, they can use the business standard mileage rate, subject to some exceptions. The deduction is calculated by multiplying the standard mi

December 11, 2025 On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law. While the Act includes many provisions, this summary focuses on the international and foreign-related rules, and how they modify or replace the framework introduced by the Tax Cuts and Jobs Act (TCJA). From GILTI to NCTI – A New Inclusion Base Under TCJA, U.S. shareholders of controlled foreign corporations (CFCs) had to include GILTI (Global Intangible Low-Taxed Incom