Compass Tax Educators Blogs

In Kwong v. United States, 179 Fed. Cl. 382 (2025), the U.S. Court of Federal Claims held that the version of...

§70103 of the One Big Beautiful Bill Act (OB3 Act) added new §151(d)(5)(C) to create a new deduction of up...

In a recent news release, the IRS stated that $1.2 billion of refunds could be lost if certain individuals do not...

The One Big Beautiful Bill Act (OB3 Act) made the §199A deduction permanent. A key source of confusion among tax...

Many tax professionals are experimenting with artificial intelligence (AI) tools, such as ChatGPT and Claude, in their tax practices to...

The One Big Beautiful Bill Act (OB3 Act) created a new deduction for qualified tips for tax years 2025 through...

For families looking to adopt children, the §23 adoption credit is a valuable financial incentive that reimburses some or all...

Entities have until March 16, 2026 to take many important actions (the normal March 15, 2026 deadline falls on a Sunday, so...

Tax professionals already have a difficult tax season due to the One Big Beautiful Bill Act (OB3 Act) tax changes....

In the tax world, there is rarely an opportunity for a do-over; however, if a taxpayer files a tax return...

In tax professional social media groups, the §225 overtime deduction is causing significant confusion. And rightly so — the IRS...

This tax season, which officially started on January 26, 2026, will be challenging, as tax year 2025 will be the...

Tax professionals often use tax organizers or questionnaires to gather information from clients to complete tax returns accurately. Many of...

§70203 of the One Big Beautiful Bill Act (OB3 Act) added a new deduction for qualified passenger vehicle loan interest...

§70204 of the One Big Beautiful Bill Act (OB3 Act) established a tax-deferred savings account for children, referred to as...

Adding solar electricity to a residence can take months, even years, from initial payment until activation. Since this process can...

The One Big Beautiful Bill Act (OB3 Act) has several provisions directly and indirectly related to charitable giving. Due to...

In Notice 2025-69, the IRS announced the full scope of transitional relief for claiming the new §224 qualified tips deduction and...

We are in the draft tax form season! Reviewing the 2025 draft and final forms, along with their instructions, will...

The Internal Revenue Service Math and Taxpayer Help Act (IRS MATH Act) reforms the IRS’s implementation of its so-called “math...