Archive

Monthly Archives: September 2026

IRS Introduces New, Automated Process for Qualifying Taxpayers to Receive Penalty Relief by Angie Adames, CPA


Posted on September 14, 2026 by Angie Adames

The IRS recognizes that mistakes happen and has long offered qualifying taxpayers relief from certain penalties through its First-Time Abatement (FTA) administrative Relief program. Historically, however, many taxpayers did not receive this relief because they did not know it existed or they failed to reach the IRS to request it. This changes immediately with the […]

Tax Law Changes in OBBBA May Require New Planning Strategies for Non-Grantor Trusts, Estates and Their Beneficiaries By Patricia Giarratano, CPA


Posted on September 01, 2026 by Patricia Giarratano

Included in the Joint Committee on Taxation’s (JCT’s) recently released Blue Book report, lawmakers clarify a provision in the One Big Beautiful Bill Act (OBBBA) that introduces new limits on itemized deductions claimed by taxpayers in the top tax bracket and extends them to non-grantor trusts and estates for the first time. The result could […]