Tax News
Tax Law Updates & IRS News
Staying informed means keeping more of your money.
One Big Beautiful Bill Act of 2025 — What It Means for You
The 2025 omnibus tax legislation introduces new deductions and relief measures that affect tipped workers, families, and small businesses. Here's what you need to know before filing.
Effective 2025–2028, employees and self‑employed individuals may deduct qualified tips received in occupations listed by IRS as customarily receiving tips. Reported on W‑2, 1099, or Form 4137. Maximum annual deduction: $25,000. For self‑employed, cannot exceed net self‑employment income.
The bill includes new and expanded deductions, plus updates to standard deduction thresholds and child tax credit calculations. We'll review your specific situation to determine which provisions apply to your return this year.
If you received tips in 2025, bring your W‑2 or 1099 to your appointment — we'll ensure you claim this new deduction correctly. Self‑employed? Track tip income separately from regular service income to maximize the benefit.
IRS CP53E Notices — Direct Deposit Delays
Some refunds are taking 6+ weeks due to IRS processing issues. If you received a CP53E notice, call us immediately at (360) 657‑7333.