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Tags: Taxes
Download this as a pdf at:
https://cdn.baseplatform.io/files/base/cygnus/cpa/document/2020/01/fw2.5e14bdcba5108.pdf
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Tags: Taxes
Taxes February 11, 2026
Under the One Big Beautiful Bill Act, U.S. workers can now temporarily deduct tips from their federal income taxes, up to a $25,000 limit. But Illinois is one of the states that are decoupling with the policy, so tipped income will still be taxed at the state level.
Taxes February 11, 2026
The AICPA recommends the IRS modify and simplify the “determine and document” requirement in Notice 2025-75 by either eliminating or significantly paring back the documentation requirement or alternatively adopting a per se rule or safe harbor.
Taxes February 11, 2026
To raise revenue and offset an increased state cost of administering Medicaid, Michigan Gov. Gretchen Whitmer is proposing six new taxes: on tobacco and vapes, digital advertising and sports betting, along with a new internet tax rate on the state’s largest casinos.
Technology February 10, 2026
The program, launched last week, is designed to help corporate tax departments build practical artificial intelligence skills and integrate generative AI into daily operations, KPMG said.