Spidell's Federal Tax Minute

This week, we're covering a simplified process for rollovers from employer-sponsored plans to IRAs and vice versa.

This week, we're covering the provisions of the bill that will extend disaster relief exclusions and deductions.

This week, we're covering the tax issues that prediction markets might present, and the lack of IRS guidance on the issue.

This week we're covering the growing trend of multi-year Roth conversions.

This week we're covering what the phaseout of the penny means for sales and use tax purposes.

This week we're covering using a Delaware statutory trust as part of a §1031 exchange.

This week we have an update on Trump Accounts, which are now active and can be accessed via a new app.

This week we're covering using funds from a §529 account to pay a mortgage while a student attends school.

This week we're covering some Circular 230 guidance specific to tax professionals using AI.

This week, we're covering federal legislation that has been introduced to address the taxation of digital assets.

This week we're covering the ruling in the Kwong case and why taxpayers may want to file protective refund claims for the COVID-19 disaster period.

This week we're covering a potential double taxation issue for trusts that the Joint Committee on Taxation just addressed in its Bluebook.

This week we're covering the upcoming renewal date for Designated Officials in the IRS's Business Tax Account system.

This week' we're covering some of the tax bills that are moving through Congress.

This week we're covering the rescheduling of certain marijuana products from Schedule I to Schedule III and what that means for businesses that sell those products.

This week we're covering disallowed Employee Retention Credits and a recent extension to the statute of limitations on refunds.

This week, we're covering using a durable power of attorney for tax matters, in circumstances where a taxpayer may be incompetent or incapacitated.

This week, we're covering using outsourcing and artificial intelligence to review returns.

This week we're covering clarification we have received from the IRS on a handful of OBBBA provisions.

This week we're covering what practitioners can do when clients receive new IRS Notice CP53E.

This week we're covering which workers are and are not eligible for the new overtime deduction.

This week, we're covering transition relief and guidance for claiming tips and overtime deductions on 2025 tax returns.

This week we're covering a change at the U.S. Postal Service that affects postmarks and makes filing and paying electronically even more important.

This week we're talking about the tax effects of reclassifying marijuana to a Schedule III drug.

This week we're covering a list of FAQs that we have received from tax professionals regarding Trump accounts.

This week we're covering categories of gifting that don't apply to the annual and lifetime gift tax exclusions.

This week, we're covering new guidance released on setting up and administering new Trump accounts.

This week we're covering some of the new and updated forms for 2025 and 2026 following the enactment of the One Big Beautiful Bill Act.

This week we're covering things to consider regarding HSAs and FSAs before the end of the year.

This week we're covering employee emergency savings accounts and how these accounts operate.

This week, we're covering new and updated Form 1099-K FAQs that the IRS recently released.

This week we're covering draft 1099 forms with new lines for certain OBBBA deductions, and transition relief for reporting tip and overtime compensation for 2025.

This week we're comparing Trump accounts to some alternative investment accounts for children under the age of 18.

This week we're covering new IRS Form 1098-VLI for the claiming car loan interest deduction and transition guidance for the car loan interest reporting requirements.

This week we're covering updates that have been made to the 2025 Form 1040.

This week we're covering Form 1099-DA reporting requirements.

This week we're covering the recently reduced PTIN fee and the new process for signing in to the PTIN system.

This week, we're covering using a private letter ruling to waive the 60-day rollover requirement for fraudulent transfers from a retirement account.

This week we're covering some 2026 draft forms the IRS released, specifically the draft W-2, Schedule 1-A, and W-4.

This week we're covering which taxpayers are winners and which are losers under the provisions of the One Big Beautiful Bill Act.

This week we're covering further expansion of the IRS's online individual tax accounts.

This week, we're covering the expansion of IRC §529 qualified higher education expenses under the One Big Beautiful Bill Act.

This week, we're covering the new Trump accounts that were established under the One Big Beautiful Bill Act.

This week we're covering three of the enhanced credits under the One Big Beautiful Bill Act.

This week we're covering the new personal exemption for seniors under the One Big Beautiful Bill Act.

This week we're covering changes made to the state and local tax deduction limitation under the One Big Beautiful Bill Act.

This week, we're covering four important depreciation provisions contained in the One Big Beautiful Bill Act.

This week we're covering changes to charitable contribution deductions made by the OBBBA.

This week we're covering the changes to various energy credits and incentives under the OBBBA.

This week we're covering Medicare's income-related monthly adjustment amount, and what taxpayers can do to lower this monthly surcharge.