News Updates

The IRS will lay off thousands of probationary workers in the middle of tax season, according to two sources familiar with the agency’s plans, and cuts could happen as soon as next week. However, IRS employees involved in the 2025 tax season were told they will not be allowed to accept a buyout offer from the Trump administration until after the taxpayer filing deadline, according to a letter sent recently to IRS employees.

Friday was a recess day and today is President’s day, two days everyone who works around the Capitol was ready for.

The fall semester saw a 12% increase in accounting enrollment from the previous year to the highest figure observed by the National Student Clearinghouse Research Center in four years.

The bill, which provides a deadline of Jan. 1, 2026, for an estimated 32 million small businesses to file beneficial ownership information reports, comes as the BOI requirements are mired in court cases. A companion bill also was introduced in the Senate.

Good leaders possess the necessary skills for navigating their role with more insight. Here are eight traits that define wisdom, along with ways to master them to become a better leader.

The first step in saving for retirement is knowing how much you will spend in retirement. From travel to health care, here are nine budget categories where you are likely to spend more.

If you want to learn what it's really like to be a professional football player, ask a professional football player. If you want to know what it's really like to be a CPA, ask a CPA. Or, you could just ask Richie Brockel.

Retail sales taxes are an essential part of most states’ revenue toolkits, responsible for 32 percent of state tax collections and 13 percent of local tax collections (24 percent of combined collections). They also benefit from being more pro-growth than the other major state tax, the individual income tax, because they introduce fewer economic distortions.

It is not surprising that a new Republican administration in the White House would create issues for the Internal Revenue Service. Past Republican administrations tended to starve the IRS for funds, resulting in a decline in audit activity and customer service.

According to a new survey from Gartner, fewer chief financial officers anticipate salary increases for employees in 2025, with only 61% planning to raise compensation, down from 71% in 2024 and 86% in 2023. The survey revealed a decline in those expecting raises of 10% or more, dropping from 16% in 2023 to 11% in 2025.

Here are teh Nebraska state senators making laws during the 109th legislative session.

Nebraska lawmakers will continue to cap themselves at introducing 20 bills each session of the Legislature after a failed vote to repeal the limit just one year after it was adopted.

The Legislature rejected an attempt by an Omaha lawmaker on Friday to lift the cap on how many bills can be introduced each year before finalizing the rules for debate.

The past two years in the Legislature have been dominated by a few major issues. None have been as prevalent and persistent as our state’s ongoing property tax issue. We’ve had dozens of bills, an equal amount of hearings, working groups put together by Governor Pillen, interim studies, town hall meetings and more. The one thing that we’ve learned is that there is no silver bullet to instantly relieve the growing financial pressure of rising property taxes on Nebraska homeowners, farmers, retirees, and small businesses.

The IRS has announced 2025 tax year amounts for four popular family tax credits. Learn more about the child tax credit and other changes that can save money for you or your clients.

It’s important for our leaders to be truthful and not speak half-truths to burnish their image, particularly when it comes to the financial stability of the state, which affects every Nebraskan.

KPMG US set up a subsidiary that has filed an application in Arizona to establish a law firm in the state, with hopes of going national.

There were 291 new bills/resolutions introduced in the past two days. We will be digging our way through them as quickly as possible, so please bear with us for a day or two. Upon first glace there is plenty for people to love and hate.

Forty-four states levy a corporate income tax, with top rates ranging from a 2.25 percent flat rate in North Carolina to a 11.5 percent top marginal rate in New Jersey. Four states—Louisiana, Nebraska, North Carolina, and Pennsylvania—reduced corporate income tax rates on January 1, 2025, while two states—New Mexico and New Jersey—increased tax burdens for corporations.

IRS Commissioner Danny Werfel has resigned effective Jan. 20.