KB CPA Services P.A.

08/20/2026

The Internal Revenue Service has announced a major administrative shift that will automatically waive three common penalties, failure to file, failure to pay, and failure to deposit for taxpayers maintaining a consistent record of timely compliance.

This newly established mechanism, designated as Automatic Exemption from Penalty (AEP), will replace the longstanding First-Time Abatement (FTA) framework, according to an official statement released by the agency.

“By automatically applying penalty relief, the IRS recognizes that taxpayers who historically pay on time should not have to make a formal request for relief that is routinely granted,” stated IRS CEO Frank Bisignano in the press release.

07/03/2026

🎯 Your Business: Getting Financial Clarity Right from the Start

Think professional accounting is only for tax season? Think again. At KB CPA Services, P.A., we provide more than just tax returns. We offer:

✅ Strategic Tax Planning
✅ Hassle-free Bookkeeping
✅ Expert Audit & Assurance
✅ Reliable Advisory Services

Don't wait for a crisis to protect your legacy. Get the crystal-clear confidence your business deserves. 💼

03/24/2026

The 2026 tax filing season is projected to yield significantly higher average refunds compared to 2024 and 2025. This shift is primarily driven by the legislative changes introduced in the One Big Beautiful Bill Act (OBBBA). Current data as of the sixth week of reporting shows total refunds reaching $182.6 billion—a nearly $20 billion increase over the same period last year ($163 billion). Furthermore, the average refund has surged by 10.8%, currently standing at $3,623.

12/09/2025

Get a head start on the 2026 tax season with KB CPA Services, P.A.!
Don't wait until the last minute, proactive tax planning is key to maximizing your financial benefits and minimizing liabilities. Our expert team in Coral Springs, FL, offers comprehensive tax planning, meticulous preparation, and insightful advisory services tailored for individuals, small businesses, and non-profits. We'll simplify complex tax codes, ensure accuracy, and provide strategic advice to help you navigate your finances with confidence. Contact us today for a free initial consultation and let us ensure a smooth, hassle-free tax season for you.

11/21/2025

President Trump signed the OBBBA into law on July 4, 2025, extending TCJA provisions and introducing new deductions. But how significant is this legislation historically?

Our latest article breaks down: ✅ The total revenue impact ($5T decrease). ✅ How it compares to the 1981 and 2012 tax acts. ✅ The "hidden" impact of the new 2025 Tariffs.

Read the full analysis to see how these changes affect the economic landscape: 👇 [https://goshort.io/5bBb8KmzA9CaZwk]

11/20/2025

🏛️ Biggest Tax Cut Ever? Let’s look at the numbers. 📉

The "One Big Beautiful Bill Act" (OBBBA) has been touted as the largest tax cut in American history—but does the math actually add up?

We analyzed the data, comparing the OBBBA to historical giants like the 1981 Reagan cuts and the 1945 Revenue Act.

The Verdict: While massive ($5 Trillion!), it actually ranks 6th in modern history when measured against GDP.

💡 Get the full breakdown of where this new bill stands and how tariffs impact the final numbers here: [https://kbcpagroup.com/tax-tips/fact-check-is-the-one-big-beautiful-bill-act-obbba-the-biggest-tax-cut-ever/]

09/30/2025

https://kbcpagroup.com/tax-tips/trumps-temporary-salt-deduction-increase-for-2025/
President Donald Trump’s so-called “big beautiful bill” will temporarily raise the cap on the federal deduction for state and local taxes (SALT) from $10,000 to $40,000 for the 2025 tax year.

A new Redfin report released last week suggests that this change could provide larger tax savings for residents in certain states, depending on their income and where they live.

President Donald Trump’s so-called “big beautiful bill” will temporarily raise the cap on the federal deduction for state and local taxes (SALT) from $10,000 to $40,000 for the 2025 tax year.

03/21/2025

The IRS has released a draft version of Form 7217, Partner’s Report of Property Distributed by a Partnership, which partners must use starting with the 2024 tax year to report their tax basis in property distributed to them by partnerships. This new requirement aims to enhance transparency by requiring partners to disclose details such as the partnership’s predistribution basis in the property and its fair market value (FMV).

The IRS has released a draft version of Form 7217, Partner’s Report of Property Distributed by a Partnership, which partners must use starting with the