WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?

 

* Jeff Stimpson brings tax professionals some good news with “PTIN season to kickoff with lower fees” at ACCOUNTING TODAY -

“The IRS Return Preparer Office conducted a biennial review of the PTIN user fee in 2025 and determined that the full cost of issuing or renewing a PTIN should be reduced from $11 to $10, plus $8.75 payable directly to a third-party contractor.”

$1.00 less – big whoop.  I still do not understand the reason for the $8.75 paid to a third-party contractor.

* The IRS has released Rev Proc 2025-32 which “sets forth inflation-adjusted items for 2026 for various {Tax} Code provisions”.   

Click here for an IRS IR-2025-103 “IRS releases tax inflation adjustments for tax year 2026, including amendments from the One, Big, Beautiful Bill”.   

* Kelley R. Taylor reminds taxpayers with a “side hustle” of “Another IRS 1099-K Threshold Change to Know for Your 2025 Taxes” at KIPLINGER.COM.

Thanks to the Big but Not So Beautiful Bill -

“So, for payments you receive for 2025 (sent to you in early 2026), you should only receive a Form 1099-K if:

+ You receive more than $20,000 in gross payments and

+ You conduct more than 200 transactions on a single platform within a year.”

* The IRS has issued a draft form of a new much more complicated Form W-4 for 2026, reflecting the changes made to the BBNSBB, with new worksheets for deductions and multiple jobs.

It looks like a new income source for tax professionals.

* Peter J Reilly tells us “IRS Draft Form Confirms Tip Deduction Marriage Penalty” at FORBES.COM.

IMHO there should be neither a marriage penalty or a marriage benefit in the Tac Code.

 * Financial Planner Sean Mullaney, THE F.I. TAX GUY tells us “it’s that time of year again” and discusses “2025 Year-End Tax Planning”.

THE LAST WORD

A reminder.

The current President of the Unites States, convicted felon and indicted traitor Donald J. “The Man Who Would Be King” Trump, is a totally worthless human being, completely devoid of intelligence, character, integrity, honor, humanity, sympathy, and empathy who does not possess a single redeeming positive human quality or value.  He does not care one ounce about anyone or anything but himself and has never performed a single totally unselfish act in his entire adult life.

America and American democracy will not be safe until Trump is gone.

Hey – just calling a spade a shovel.

TTFN