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Proposed Regs Identify Occupations Eligible for "No Tax on Tips" Deduction, Define "Qualified Tips" (NPRM REG-110032-25)
The Treasury Department and the IRS have proposed regulations that identify occupations that customarily and regularly receive tips, and define "qualified tips" that eligible tip recipients may clai...

IRS Issues Final Regulations Amending Catch-up Contribution Rules (TD 10033; IR-2025-91)
The IRS issued final regulations implementing the Roth catch-up contribution requirement and other statutory changes to catch-up contributions made by the SECURE 2.0 Act of 2022 (P.L. 117-328). The re...

Streamlined Procedures Provided for Research and Experimental Expenditure Elections and Accounting Method Changes (Rev. Proc. 2025-28)
Revenue Procedure 2025-28 instructs taxpayers on how to make various elections, file amended returns or change accounting methods for research or experimental expenditures as provided under the One, B...

Wages Not Deductible as Qualified Business Income Deduction (Savage, TC)
The shareholders of S corporations engaged in cannabis sales could not include wages disallowed under Code Sec. 280E when calculating the Code Sec. 199A deduction. The Court reasoned that only wag...

Married Couple Not Entitled to Plug-In Vehicle Credit Beyond Year of Purchase (Moon, TC)
A married couple was not entitled to claim a plug-in vehicle credit after the year in which their vehicle was first placed in service. ...

FinCEN Proposed Regs Delay Investment Adviser Rules Until 2028 (FinCEN RIN-1506-AB58 and 1506-AB69)
The Financial Crimes Enforcement Network (FinCEN) has proposed regulations that would amend the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) Program and Suspicious Activity Re...

How Do I? Get back start-up expenses in starting a business as quickly as possible
The American Jobs Creation Act of 2004 (2004 Jobs Act) changed the rules for start-up expenses in both favorable and unfavorable ways. Start-up expenditures are amounts that would have been deductible...

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