Tax Updates

Learn how organizations can address state tax risks while maintaining value, with practical strategies for navigating complex tax environments. Click to read more.

As 2025 ends, employers must ensure fringe benefits are included in taxable wages for employees and 2% S corp shareholders. Annual valuation and timely reporting on Form W-2/1099 are required to avoid penalties.

Thrive in a changing tax landscape. Download our 2025 Year-End Tax Planning Guides for public and private companies and discover practical strategies for managing your tax liability and cash flow.

H.R. 998, sent to the president, adds new notice requirements and restrictions on IRS math error authority. IRS must update abatement procedures and give more detailed math error notices.

IRS warns of refund delays during the shutdown. Only error-free, e-filed Form 1040 refunds will be processed. Corporate business return refunds filed before Oct. 15 may face long delays as the backlog grows.

IRS Notice 2025-57 offers transitional relief, easing new reporting rules for auto loan interest. OBBBA allows up to $10,000 deduction for U.S.-assembled vehicle loans (2025–2028), with income limits and lender reporting requirements.

Learn about the IRS proposal to withdraw rules on domestically controlled REIT status and what increased foreign control could mean for real estate investment. Click to read more.

IRS final regs impact catch-up contributions for 401(k), 403(b), and 457(b) plans. For 2025, salary deferral limit is $23,500 and annual addition limit is $70,000. Catch-up allowed for those 50+ exceeding these limits.

BDO Talks Tariffs webcasts have received 80+ attendee questions, highlighting the fast-changing trade landscape. Here are answers to the 10 most common questions on trade and tariffs.

The IRS has released a draft Form W-9, Request for Taxpayer Identification Number and Certification, with changes addressing digital asset broker exemptions and reporting by sole proprietorships and disregarded entities.

The IRS will partially withdraw last year's CAMT proposed regs and issue new ones. Notice 2025-46 provides interim guidance on domestic transactions, troubled firms, consolidated groups, and FSNOLs to ease compliance.

A total tax approach requires a deep understanding of your business operations & tax profile. Find out what to look for in a tax managed services provider & why a holistic mindset drives successful relationships.

The IRS has furloughed nearly half its staff and will permanently lose 1,500 employees due to government-wide RIFs, freezing audits and slowing guidance. These cuts add to 25,000 IRS job losses earlier this year.

Explore how repealing estate and generation-skipping transfer taxes could reshape wealth planning, tax efficiency, and multigenerational strategies. Discover key impacts and considerations.

IRS final regs remove the “associated property rule” for interest capitalization on improvements to designated property, aligning with court decisions. New rules apply after Oct. 2, 2025; proposed regs can be used for tax years after May 15, 2024.

Michigan's new budget updates state tax rules, decouples from parts of OBBBA, revises IRC conformity, and creates the Comprehensive Road Funding Tax Act to direct tax revenue to road projects.

Supplemental income for nonresident aliens is subject to different federal withholding rates than for U.S. persons. Correct rates are set by the IRC and related regulations, not by general U.S. withholding rules.

Payment processors face sales tax challenges with bundled transactions. Features classified as software or taxable services, along with invoicing methods, can impact sales tax treatment depending on state rules.

The Pennsylvania Supreme Court ruled Pittsburgh's 3% “jock tax” on nonresident athletes and entertainers unconstitutional, finding it discriminates against nonresidents performing in city-owned sports venues.

SCOTUS will hear arguments on Trump's IEEPA tariffs on Nov. 5, 2025, after lower courts ruled the tariffs exceeded presidential authority. Key cases: V.O.S. Selections, CAFC, and Learning Resources v. Trump.