Roger Russell

1 week ago | accountingtoday.com | Roger Russell

The Supreme Court held on June 12, 2025, that the Tax Court lost jurisdiction over a collective due process hearing when there was no longer an ongoing levy. During the multiyear proceedings before the Tax Court and the Internal Revenue Service over an alleged outstanding tax liability, the taxpayer in the case — Jennifer Zuch — filed several tax returns that showed overpayments. Each time, the IRS applied these overpayments to her outstanding tax liability, rather than issuing refunds.

2 weeks ago | accountingtoday.com | Roger Russell

The House-passed version of the Trump administration's "Big Beautiful Bill," now in the Senate, is almost certain to pass in one form or another, despite threats by budget hawks to oppose it if certain cuts are not made, and by blue state Republicans who want different ceilings on the state and local tax deduction. The alternative — a significant tax hike at the end of the year — is, for many, too radical to contemplate.

3 weeks ago | financial-planning.com | Roger Russell

The reconciliation bill passed by the House on May 22 is currently being considered by the Senate and will likely undergo changes before approval by the upper chamber. To what extent the changes will create stumbling blocks before a final bill is produced and voted on is uncertain, with the increased SALT deduction, Medicaid reforms and repeal of certain Inflation Reduction Act credits on the line.

3 weeks ago | accountingtoday.com | Roger Russell

The reconciliation bill passed by the House on May 22 is currently being considered by the Senate, and will likely undergo changes before approval by the upper chamber. To what extent the changes will create stumbling blocks before a final bill is produced and voted on is uncertain, with the increased SALT deduction, Medicaid reforms, and repeal of certain Inflation Reduction Act credits on the line.

1 month ago | accountingtoday.com | Roger Russell

Clients who decide to make a "fresh start" after April 15 and launch their own business venture may seek guidance from their tax professional regarding the form or business structure they should choose. The tax pro's response should be simple enough to be understandable without confusing the issues, and comprehensive enough to include potential snags or traps for the unwary.