What are the key IFRS 2026 updates? The most important IFRS 2026 updates include IFRS 9 amendments for financial instrument classification and nature-dependent electricity contracts effective January 1, 2026, the upcoming IFRS 18 replacing IAS 1 effective January 2027, and the March 2026 IASB decisions on IFRS 10 Consolidated Financial Statements — changes that require…
What are the California FTB 2026 tax updates? The California FTB 2026 tax updates include SB 711’s change to California’s IRC conformity date, new Pass-Through Entity (PTE) elective tax add-back rules, an expanded California Competes Tax Credit, and a new online tool to verify submitted tax returns — all detailed in FTB’s March 2026 Tax…
What are the IRS tax year 2026 inflation adjustments? The IRS officially released IRS inflation adjustments 2026 under Revenue Procedure 2025-32, including a standard deduction increase to $32,200 for married filing jointly couples, revised marginal tax brackets, higher EITC limits, and a $15 million estate tax exclusion — all shaped by the One Big Beautiful…
What free tax filing options are available to military members in 2026? Military tax filing 2026 is easier than ever — service members and their families can use MilTax (free, no income limit) or IRS Free File (AGI under $89,000 for 2025 returns), plus benefit from combat pay exclusion, extended deadlines, and special Earned Income…
What is the IRS Dirty Dozen for 2026? The IRS Dirty Dozen 2026 is the annual list of the 12 most dangerous tax scams targeting American taxpayers, businesses, and tax professionals. This year’s list includes AI-powered phone scams, ghost preparers, and a new entry — abusive Form 2439 capital gains claims. Here’s what every taxpayer…
Do high-income employees have to make Roth catch-up contributions in 2026? Yes — if your prior-year FICA wages from your employer exceeded $150,000, the SECURE 2.0 Act now requires that your Roth catchup contributions 2026 be designated as Roth (after-tax) contributions, not pre-tax. Here is everything you need to know before the January 1, 2026…
What is California’s new 12-digit business entity ID number? Since 2025, the California Secretary of State has been issuing a new California business entity ID number in a 12-digit alphanumeric format to newly formed corporations, LLCs, and limited partnerships. When using FTB Web Pay or tax preparation software, you must enter only the numeric digits…
What happened in Congress on taxes in March 2026? The House Ways and Means Committee advanced five bipartisan tax bills, and the IRS tax deadline 2026 of April 15 is now critical: over $1.2 billion in unclaimed 2022 refunds will be permanently forfeited if taxpayers miss it. March 2026 brought significant tax-related legislative activity from…
What changed in the Form 1065 instructions for 2025? The IRS released updated Form 1065 instructions for 2025 (processing year 2026) with new direct deposit lines, a Schedule K-2 exception checkbox, and new Schedule K-1 reporting codes for partnership distributions and special transactions — including provisions from the One Big Beautiful Bill Act. If you…
What does IRS Notice 2026-7 change about the corporate alternative minimum tax? Notice 2026-7 provides additional interim guidance on the CAMT, focusing on adjusted financial statement income (AFSI) adjustments for tax-deductible repairs, Section 197 intangibles, domestic research amortization under Section 174A, film and TV production costs, and low-cost materials. It also modifies troubled company guidance…
