This article was published by the IRS. Taxpayers may be able to take advantage of new deductions that could reduce taxable income and increase refunds due to the One, Big, Beautiful Bill, passed by Congress in July 2025. Provisions from the new law can have a significant effect on federal taxes, credits, and deductions. The legislation [...]
Have you ever given someone a ride to the airport, delivered food, rented out your house, or taken on freelance work through an online platform? The gig economy, also known as the sharing or on-demand economy, is transforming how millions of people work. But what exactly is it, and what should you know if you're part [...]
A limited liability company, or LLC, is a business structure created under state law that is separate from its owners, who are called members. In most cases, LLC members are not personally responsible for the business's debts and liabilities for federal tax purposes. An LLC can be treated in different ways, depending on the number of [...]
This article was published by the IRS. The Internal Revenue Service Whistleblower Office has made it easier for whistleblowers to report tax noncompliance to the IRS with the launch of the new digital Form 211, Application for Award for Original Information. With the launch of digital Form 211, individuals can now quickly and securely provide information [...]
A partnership is when two or more people come together to run a business and share in the profits and losses. Each partner may contribute money, property, or services to the business, and then share in any profits or losses. In a partnership, power is shared between the partners. Partners usually have unlimited liability, unless an [...]
