Tax Law Updates

    Tax Rules for Company Cars and Employee Perks in 2026 Company vehicles and employee perks are valuable benefits—but they aren’t always tax-free. For 2026, the IRS generally treats employer-provided vehicles and fringe benefits as taxable compensation unless a specific tax exclusion applies.   Are Company Cars Taxable? Generally, yes. The key factor is...

    Fringe Benefit Tax Rules for 2026: What Employers Need to Know Employee perks can boost morale and attract top talent—but not every benefit is tax-free. For 2026, the IRS generally treats fringe benefits as taxable compensation unless a specific tax exclusion applies. Understanding which benefits qualify can help businesses avoid payroll tax issues...

  2026 Tax Changes Every Taxpayer Should Know The 2026 tax year brings several important federal tax changes that could affect your tax bill, deductions, retirement planning, and estate planning. Many provisions that were previously scheduled to expire have now been made permanent, while several new deductions and limitations also take effect. Here’s a summary...

    HSA vs. FSA: What’s the Tax Difference in 2026? Health Savings Accounts (HSAs) and Health Flexible Spending Accounts (FSAs) both offer valuable tax advantages for medical expenses, but they work very differently. Choosing the right account can help lower your taxable income and reduce healthcare costs. However, eligibility, ownership, contribution limits, and how...

  Business Fringe Benefits Explained: What’s Taxable in 2026? Employee perks are a great way to attract and retain talent—but many business owners are surprised to learn that most fringe benefits are taxable unless the IRS specifically excludes them. Understanding which benefits qualify for tax-free treatment can help your business stay compliant while maximizing value...

    2026 Tax Changes Every Taxpayer Should Know The 2026 tax year brings several important federal tax updates that could affect your tax bill, deductions, and financial planning. While many tax provisions remain in place, new limits, permanent extensions, and expiring credits make it essential to understand what’s changing. Here’s a summary of the...

  IRS Limits Estate Tax Rulings on Living Persons: What Taxpayers Should Know Many taxpayers seek IRS guidance before making significant estate planning decisions. However, the IRS has strict procedural rules that limit when it will provide advance guidance on estate tax issues involving living individuals. While there is no blanket prohibition on estate tax...

  Small Business Tax Tips for 2026 Running a small business comes with important tax responsibilities. Understanding your federal tax obligations can help you stay compliant, maximize deductions, and avoid costly penalties. Whether you’re a sole proprietor, independent contractor, partnership, or employer, here’s what you should know for the 2026 tax year.   Know Which...

  IRS Tightens Section 892 Rules for Foreign Government Investments Foreign governments investing in the United States have long relied on IRC Section 892, which provides a federal income tax exemption for certain U.S.-source investment income. However, determining whether an entity qualifies for that exemption has become increasingly complex. Recent IRS guidance reinforces that Section...

  IRS Tightens Reasonable Cause Reviews: What Taxpayers Should Know in 2026 If you’ve ever requested IRS penalty relief, you’ve likely heard the term “reasonable cause.” While the legal standard hasn’t changed, the IRS appears to be applying it more narrowly in certain situations—particularly for international tax filings and information return penalties. Understanding how the...