J Chester & Associates, Inc a Dallas CPA Firm

OBBBA Brings Expanded Tax Incentives for Employers.

While many provisions await Treasury and IRS guidance, small business clients are already asking how the law will affect their taxes in 2025 and beyond. This overview highlights key changes relevant to their planning.

OBBBA Brings Expanded Tax Incentives for Employers — Dallas CPA Firm While many provisions await Treasury and IRS guidance, small business clients are already asking how the law will affect their taxes in 2025 and beyond. This overview highlights key changes relevant to their planning.

It’s PTIN Renewal Season: IRS Reminds Tax Pros of Deadline.

To prepare and file taxes for other taxpayers, professionals must have a PTIN and renew it annually. The cost for the 2026 calendar year is $18.75.

It’s PTIN Renewal Season: IRS Reminds Tax Pros of Deadline — Dallas CPA Firm To prepare and file taxes for other taxpayers, professionals must have a PTIN and renew it annually. The cost for the 2026 calendar year is $18.75.

IRS Issues New FAQs on $20,000 Form 1099-K Threshold Under OBBBA.
The Republican tax-and-spending law reverts the threshold for online sales reporting to $20,000 and 200 transactions per year, as it was before 2021. The provision is applied retroactively to the 2022 tax year.

IRS Issues New FAQs on $20,000 Form 1099-K Threshold Under OBBBA. — Dallas CPA Firm The Republican tax-and-spending law reverts the threshold for online sales reporting to $20,000 and 200 transactions per year, as it was before 2021. The provision is applied retroactively to the 2022 tax year.

Government Shutdown In Effect: Some Agencies to Close, But IRS to Stay Open, For Now.

Under the plan, the Treasury Department would shift funding the IRS received from the Inflation Reduction Act into the taxing agency's operational budge.

Government Shutdown In Effect: Some Agencies to Close, But IRS to Stay Open, For Now — Dallas CPA Firm Under the plan, the Treasury Department would shift funding the IRS received from the Inflation Reduction Act into the taxing agency's operational budget.

New Tax Law Gives a Boost to the Child Tax Credit (OBBBA).

The CTC is now bigger and better—permanently. The new also retains a special tax credit for non-child dependents.

New Tax Law Gives a Boost to the Child Tax Credit (OBBBA) — Dallas CPA Firm The CTC is now bigger and better—permanently. The new also retains a special tax credit for non-child dependents.

IRS Unveils 2026 Draft W-2 Form with Trump Tax Law Provisions.

The IRS released a draft W-2 form for 2026 on Aug. 15 that takes into account tax provisions in the One Big Beautiful Bill Act for deductions related to tip income and overtime pay.

IRS Unveils 2026 Draft W-2 Form with Trump Tax Law Provisions — Dallas CPA Firm The IRS released a draft W-2 form for 2026 on Aug. 15 that takes into account tax provisions in the One Big Beautiful Bill Act for deductions related to tip income and overtime pay.

Exploring the Role of Partnerships in Qualified Small Business Stock (QSBS) Planning.
A key requirement of Section 1202 is that the issuer of qualified small business stock (QSBS) must be a domestic (US) C corporation.

Exploring the Role of Partnerships in Qualified Small Business Stock (QSBS) Planning — Dallas CPA Firm A key requirement of Section 1202 is that the issuer of qualified small business stock (QSBS) must be a domestic (US) C corporation.

Kiddie Tax 101: What Is It, How Does It Work and Who Has to Pay It?

The kiddie tax was established almost 40 years ago to prevent parents from avoiding taxes by transferring large gifts of investment assets to their children.

Kiddie Tax 101: What Is It, How Does It Work and Who Has to Pay It? — Dallas CPA Firm The kiddie tax was established almost 40 years ago to prevent parents from avoiding taxes by transferring large gifts of investment assets to their children.

One Big Beautiful Bill Act Changes 1099 Thresholds.

The One Big Beautiful Bill Act raises the 1099-MISC and 1099-NEC reporting thresholds to $2,000.

One Big Beautiful Bill Act Changes 1099 Thresholds — Dallas CPA Firm The One Big Beautiful Bill Act raises the 1099-MISC and 1099-NEC reporting thresholds to $2,000.

IRS Explains New Trump Tax Law Deductions for Workers, Seniors.

The IRS released a fact sheet earlier this week describing new tax provisions—no tax on tips, no tax on overtime, no tax on car loan interest, and a deduction for seniors—in the One Big Beautiful Bill Act.

IRS Explains New Trump Tax Law Deductions for Workers, Seniors. — Dallas CPA Firm The IRS released a fact sheet earlier this week describing new tax provisions—no tax on tips, no tax on overtime, no tax on car loan interest, and a deduction for seniors—in the One Big Beautiful Bill Act.

Winners and Losers in Trump’s Tax Bill.
Business investors and wealthy Americans are among the biggest winners in President Donald Trump’s tax bill. Those hit the hardest include elite universities, which face new levies, and immigrants.

Winners and Losers in Trump’s Tax Bill — Dallas CPA Firm Business investors and wealthy Americans are among the biggest winners in President Donald Trump’s tax bill. Those hit the hardest include elite universities, which face new levies, and immigrants.