Recent court decisions have reignited uncertainty around when limited partners may be subject to self-employment tax, an issue that has long been debated by taxpayers, practitioners, and the IRS. In…
A recent memo from the Texas Comptroller marks a significant shift in computing Franchise tax beginning with the 2026 report year. The change aligns Texas franchise tax calculations more closely…
Melton & Melton is pleased to announce the promotion of Christy Riley to Partner in the firm’s Audit Department. Christy’s leadership, technical experience, and dedication to serving clients have made…
As the year comes to a close, we wanted to pause and simply say thank you. We are truly grateful for the trust you place in us and for the…
2026 IRS Pension Plan Limits The Internal Revenue Service (IRS) published its cost-of-living adjustments for the 2026 tax year that will affect dollar limits for pension plans and other retirement-related…
Dear Clients and Friends,As 2025 draws to a close, recent federal tax legislation and IRS initiatives have brought importantchanges that may impact your year-end planning. Below are key updates and…
On September 23, 2025, the IRS issued News Release IR-2025-94, providing its first guidance on implementing Executive Order 14247. This Executive Order directs the U.S. Treasury to phase out paper…
On March 25, 2025, the President issued Executive Order 14247, Modernizing Payments To and From America’s Bank Account. The order directs a nationwide shift away from paper checks and money…
The One Big Beautiful Bill Act (OBBBA) also known as H.R. 1 was signed into law in 2025 and brings significant changes to the U.S. tax system for both individuals and businesses. Below is a summary of some of the key tax provisions, divided into individual and business categories.
On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule revising the beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act. The new…
