News Updates

For retirees and those planning for retirement, changes this year beyond inflation adjustments for retirement contributions include higher SALT deduction amounts.

The IRS also is updating some income tax forms and instructions to help taxpayers claim the deductions.

The amount of state tax obligations Nebraska taxpayers have evaded has soared beyond $310 million, growing by 15% this past year, according to a letter released Monday, Nov. 17, 2025, by the Nebraska State Auditor.

On January 7th, we will hit the ground running for what is always a fast-track short session schedule. If things go as Speaker Arch has planned, we could be done with session as early as April 10th.

The Trump administration's proposed $100,000 increase in H-1B visa fees could jeopardize the program, prompting calls for better guest worker systems that protect workers' rights. Peter Norlander, an associate professor at Loyola University Chicago, argues that the current structure ties workers to employers, limiting their ability to leave unsatisfactory jobs. Research indicates that H-1B workers earn about 37% less than they would in a competitive market. Norlander suggests replacing the current hiring tax with a payroll tax to enhance visa portability and improve wage conditions. He emphasizes that "switching to a payroll tax could be compatible with proposals to raise the cap on H-1B visas," ultimately benefiting both workers and the economy.

The public accounting profession is undergoing significant transformation, presenting unprecedented opportunities for young professionals. As Accounting Today notes: "The next 10 years could be one of the best times in history to build a career in public accounting." Factors driving this change include a wave of partner retirements, increased consolidation of firms, and the rise of the "Intrapreneur" career path, which emphasizes advisory roles beyond traditional compliance. Technology is also playing a crucial role, enabling accountants to focus on higher-value tasks rather than repetitive work. Additionally, firms are adapting to the desires of younger professionals by offering flexible career paths and alternative ownership models. Overall, public accounting is not disappearing but evolving, creating a wealth of opportunities for those eager to lead and innovate.

Roger Ver, the prominent investor dubbed the "Bitcoin Jesus," has settled a U.S. tax evasion indictment by paying up to $49.9MM without admitting guilt. The Justice Department announced that prosecutors will dismiss the indictment after Ver acknowledged failing to pay taxes on Bitcoin sales following his renunciation of U.S. citizenship in 2014. He was charged with evading over $48MM in taxes from profits on $240MM in crypto tokens; his lawyers initially sought a pardon from Donald Trump but later negotiated the settlement. Associate Deputy Attorney General Ketan Bhirud emphasized the importance of accurate tax filings, stating, "This resolution sends a clear message: Whether you deal in dollars or digital assets, you must file accurate tax returns and pay what you owe." “I am very grateful this case has been dismissed and appreciate the Trump administration’s leadership and professionalism in working towards this final resolution," Ver said in a statement. The former chief executive of the digital wallet developer Bitcoin.com began acquiring the cryptocurrency bitcoin in 2011 and actively promoted it. The case is United States v. Ver, 24-cr-103, in the U.S. District Court for the Central District of California.

Six Department of Revenue employees were laid off in Lincoln, while at least five workers were laid off in Scottsbluff. The cuts amount to about 2.7% of the Department of Revenue's workforce, which included 409 employees as of July.

More than $2 trillion sits in left-behind 401(k) retirement accounts, with an average balance of $66,691. Those 31.9 million accounts represent nearly one quarter of 401(k) assets.

In its list of high-cost and low-cost localities, the IRS kept per diem rates for travel, meals, and incidental expenses unchanged for the new annual period starting Oct. 1, 2025.

The Department of the Treasury and the Internal Revenue Service have provided guidance on “no tax on tips” provision.

The potential shutdown of the federal government in two weeks may depend on Republicans' willingness to extend the premium tax credit, which is set to expire on December 31.

The IRS has introduced a draft of Schedule 1-A (Form 1040), Additional Deductions, which consolidates calculations for four deductions under H.R. 1, P.L. 119-21, known as the One Big Beautiful Bill Act. This new form allows taxpayers to calculate deductions for tips, overtime, car loan interest, and an enhanced senior deduction on a single document.

President Donald Trump has said that companies should no longer be required to report their earnings on a quarterly basis, and instead publish their financials every six months, arguing that it "will save money, and allow managers to focus on properly running their companies." Currently, the SEC requires corporations to report their financial statements every 90 days. Half-yearly reporting would mark a huge change in disclosure requirements and put the U.S. in line with the U.K. and several countries in the European Union.

Property taxes can be looked at as a story problem. Unlike a story problem, though, with property taxes you don’t always have all the information you need at the start.

The new law requires businesses with 11 or more employees to provide their employees with paid sick time. Employers are required to provide written notice and postings by September 15, 2025.

The 2025 Nebraska Legislative Changes affecting taxation has been posted to the Nebraska Department of Revenue's website.

Governor Jim Pillen has issued a disaster declaration for 23 counties resulting from storms that impacted the state earlier this month. Thunderstorms from Aug. 8-11, 2025, resulted in exceptionally high winds and heavy rain and caused significant damage to public property and infrastructure.

Recently, due to deals President Trump is making, some are saying the United States has embarked on a version of Chinese-style “state capitalism” – directly entangling markets and government. What the argument ignores is that this started long ago.

The best way to attract entry-level accounting talent is to actively recruit students on college campuses. Learn what accounting students want to know about employers and discover examples of ways to make on-campus connections with promising talent.