OBBBA: What the Latest Guidance Means for Individuals, Businesses, and Payroll in 2025–2026
Jessica I. Marschall, CPA, ISA AM August 13th, 2025 Executive summary. Treasury and the IRS have started to roll out operational guidance for the One Big Beautiful Bill Act (OBBBA). For Tax Year 2025, the government is not changing individual information returns or federal withholding tables; most practical form changes are being pushed to 2026. […]
Read MoreTaxpayer Assistance at a Breaking Point: My Experience on the IRS Practitioner Line
By Jessica I. Marschall, CPA, ISA AMJuly 23, 2025 Calling the IRS Practitioner Priority Service (PPS) has become a test of stamina, timing, and luck. As a CPA with over two decades of experience, I have come to expect some inefficiencies during peak tax seasons. But what we are facing now is not seasonal backlog. […]
Read MoreUnderstanding Opportunity Zone Tax Incentives and Qualified Opportunity Funds
By Jessica I. Marschall, CPAPresident, MAS LLCJuly 7, 2025 Introduction Since their introduction under the Tax Cuts and Jobs Act of 2017, Opportunity Zones have emerged as a powerful tool to encourage long-term investment in economically distressed communities. These provisions offer significant tax advantages to individuals and entities willing to reinvest capital gains into designated […]
Read MoreWhat Made It into the Final “Big, Beautiful” Tax Bill—And Who It Leaves Behind
By Jessica I. Marschall, CPA, ISA AM June 28th, 2025 In the early hours of June 28, 2025, the Senate passed what Majority Leader John Thune and others in Republican leadership have proudly branded the “Big, Beautiful Bill”; a sweeping legislative package that alters the tax code, restructures environmental regulation, and reshapes the federal-state partnership […]
Read MoreThe 2025 house republican tax bill: A political statement, not a pro-growth plan
By Jessica I. Marschall, CPAJune 13, 2025 In a year marked by electoral shifts and budgetary uncertainty, the house of representatives has passed a sweeping $2.4 trillion tax bill, entitled the one big beautiful bill. Designed to fulfill campaign promises made by President Donald Trump, the bill combines extensions of the 2017 Tax Cuts and […]
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What is a Tax Short Year?
A short tax year is a tax period that covers less than 12 months. This can happen for various reasons, such as when a business is established or terminated in the middle of a calendar year, when a taxpayer changes their accounting period, or when there are other circumstances that result in a tax period […]
Read MoreIRS Increased Funding-What This Means For Taxpayers
Article: IRS Increased Funding-What This Means for Taxpayers Category: IRS Fearmongering language has been popping up from some public figures regarding the new Congressional bill allotting $79.6 million dollars to the IRS. We will outline what this bill does and, more importantly, does not mean. One: The IRS is Not Bringing Guns to Middle Income […]
Read MoreSmall Business Tax And Accounting Updates: Ending 2022
Article: Small Business Tax and Accounting Updates: Ending 2022 Category: 1040 income tax, IRS, Small Business Small Business Tax and Accounting Updates: Ending 2022 Jessica I. Marschall, CPA Tax Season 2022 is just around the corner. Our firm put together the most important and prevalent tax and accounting issues pertaining to small businesses. We have […]
Read MoreTax Notes From 2022 Tax Season
Article:Tax Notes from 2022 Tax Season Category: 1040 income tax, IRS, Small Business Jessica I. Marschall, CPA April 21st, 2023 The bulk of tax season 2022 is over. As a group, CPAs are exhaling and questioning our career choices. As a group, we are fading fast. The AICPA estimates that 75% of CPAs will retire […]
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