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

 

* The 2025–2026 New York State budget provides for the state’s first-ever Inflation Refund Checks for residents based on their 2023 IT-201 NY Adjusted Gross Income.

“Checks will be mailed over a period of several weeks beginning in mid-October of 2025.”

* The IRS has issued Fact Sheet 2025-05 to address the accelerated termination of several energy provisions under the big but not so beautiful bill -  

“OBBB accelerated the termination of several energy credit and deduction provisions. The following incentives expire the soonest:”

IRC	Credit	Termination date
25C	Energy efficient home improvement credit	Property placed in service after December 31, 2025.
25D	Residential clean energy credit	Expenditures made after December 31, 2025.
25E	Previously-owned clean vehicles credit	Any vehicle acquired after September 30, 2025.
30C	Alternative fuel vehicle refueling property credit	Any property placed in service after June 30, 2026.
30D	New clean vehicle credit	Any vehicle acquired after September 30, 2025.
45L	New energy efficient home credit	Any qualified new energy efficient home acquired after June 30, 2026.
45W	Qualified commercial clean vehicle credit	Any vehicle acquired after September 30, 2025.
179D	Energy efficient commercial buildings deduction	The deduction will not be allowed with respect to any property the construction of which begins after June 30, 2026.

* Speaking of the termination of energy credits, Kay Bell reports “IRS tweaks EV tax credit’s Sept. 30 ending date” at DON’T MESS WITH TAXES -

“ . . the IRS’ frequently asked questions (FAQ) fact sheet issued Aug. 21 says that a vehicle is acquired, per the OBBB requirement, ‘as of the date a written binding contract is entered into and a payment has been made.’”

* And Kay tells us “IRS releases draft 2026 Form W-2, incorporating no tax on tips or overtime income” in another DMWT post.

Kay explains how the newly required information on tip and overtime income available for the OBBA tax deductions are reported for 2026.  But there is no word on how this information will be reported on the 2025 W-2.  

* Russ Fox gives us the word that “IRS Closes Cincinnati Lockboxes; New Addresses In Effect Immediately” at TAXABLE TALK –

“The major change for residents of Alaska, California, Colorado, Hawaii, Idaho, Kansas, Michigan, Montana, Nebraska, Nevada, Ohio, Oregon, North Dakota, South Dakota, Utah, Washington, and Wyoming is that there are new addresses to mail Forms 1040-V and 1040-ES. (Paper-filed forms 1040 with a payment go to the 1040-V address.)”

His source is IRS Publication 3891 “Lockbox Addresses for 2026”.

THE LAST WORD

Supporting and enabling convicted felon and indicted traitor Trump and his attempt to effectively become the King of the United States is unconscionable.

The Republicans in Congress should be ashamed.

Every day brings more proof that nothing is more important – and I mean nothing – for the future of America than making sure the Democrats take control of Congress by a safe majority in 2026.

If Republicans maintain control of Congress, 2026 will not only be the 250^th anniversary of the Declaration of Independence but it will also be the end of American freedom and democracy.

TTFN