New Provisions: the One Big Beautiful Bill Several provisions in the act signed into law on July 4th, 2025 will impact 2025 returns during the 2026 filing season. Since the provisions went into effect during the year, new and additional documentation not usually provided during tax season will likely be needed to prepare your return. Here are some of the main updates: "No Tax on Tips" Effective for 2025 through 2028, employees and self-employed individuals may deduct qualified tips received...

***Updated March 26, 2025: All entities created in the United States — including those previously known as “domestic reporting companies” — and their beneficial owners are now exempt from the requirement to report beneficial ownership information to FinCEN. Existing foreign companies that must report their beneficial ownership information have at least an additional 30 days from March 26, 2025—until April 25, 2025, for most companies—to do so.*** ***As of February 27, 2025, FinCEN announced a...

Part of Act 76 of 2023 enacted by the Vermont State Legislature directs the Vermont Department of Taxes to collect a 0.11% tax on...