Stay informed about tax law changes, IRS announcements, filing deadlines, and regulatory updates that affect your business. Curated and analyzed by our CPA team.
The IRS has released the standard mileage rates for 2026. The business rate rises to 69 cents per mile, up from 67 cents in 2025. The medical and moving rate is set at 22 cents per mile. These new rates take effect January 1, 2026.
Due to severe weather in several states, the IRS has extended the Q1 estimated tax payment deadline to May 1, 2026, for taxpayers in affected areas. S-Corp owners should verify whether their state qualifies for the extension.
Congress passed legislation expanding the Employee Retention Tax Credit for qualifying small businesses with fewer than 50 employees. The credit now covers up to 40% of qualified wages paid during the first two quarters of 2026.
The IRS has ramped up enforcement of the $600 reporting threshold for third-party payment platforms including PayPal, Venmo, and Stripe. Businesses receiving payments through these platforms should ensure accurate 1099-K reporting.
The qualified business income (QBI) deduction under Section 199A has been updated for the 2026 tax year. Income thresholds have been adjusted for inflation, and new guidance clarifies eligibility for specified service trades and businesses.
Several states have updated their economic nexus thresholds for 2026. E-commerce businesses should review the latest rules to ensure compliance, particularly in states that have lowered their transaction or revenue thresholds.
Under the Corporate Transparency Act, many LLCs and corporations formed before 2024 must file beneficial ownership information reports with FinCEN. The deadline for existing entities is fast approaching, and non-compliance carries significant penalties.
The IRS announced that the 2025 tax filing season opens January 27, 2026. The filing deadline for individual and C-Corp returns is April 15, 2026. S-Corp and partnership returns (Forms 1120-S and 1065) are due March 16, 2026.
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