U.S. Tax Insight

State Tax Policy Advances

• 🔥 Arkansas Budget Signed, Tax Cut Session Next: Gov. Sarah Sanders signed the Revenue Stabilization Act into law,...

• Myth busted: No IRS May 1, 2026 rule forces seniors to lose homes—seizure only after long unpaid taxes, notices, and court process.
• Overlooked...

Key steps to tie up loose ends and minimize audit risks:

• Retain supporting docs (1099s, 1098s, donations) for 3 years minimum; discard most 2022...

• Ohio grassroots collected 305k signatures for property tax abolition ballot, need 620k by June.
• Arkansas Gov. Sanders signs budget, calls special...

• Dual penalties ticking: Failure-to-file (5%/month, max 25%) + failure-to-pay (0.5%/month) run together, plus daily compounded interest.
• IRS...

• ERC Claim Extensions: Taxpayers with disallowed ERC claims (Letters 105C/106C) can file Form 907 via Document Upload Tool if ≤6 months left on...

Post-tax scam surge: Manitowoc County Sheriff’s warn of fraudulent IRS letters claiming refunds couldn’t deposit, urging bank info updates.

• Letters...

Get the latest IRS and policy updates in John Sheeley's Weekly Tax Update Ep. 120 from 4/24/26. Access handouts here: https://hi.switchy.io/v0wO.

Major tax relief targets family farms and rural ops:

• Estate tax: Permanent $15M exemption per person aids generational transfers
• Section 179...

Key proposal in new bill:

• Increases qualified business income deduction from 20% to 23%
• Targets millions of small businesses with tax relief
• Could join larger midterm tax package

Watch for impact on pass-through owners amid election talks.

Federal Tax Law Changes

• 🔥 One Big Beautiful Bill Act Signed: The One Big Beautiful Bill Act was signed into law on July 4, 2025, as Public Law...

Alert: Tax rates unchanged (28% collectibles max), but IRS boosts tracking with new forms and automated matches.

Key changes:

• 1099-DA:...

• $170B enforcement funding funds sweeping immigration shifts, hitting fees and benefits now
• 1% remittance tax taxes every dollar non-citizens send...

• Texas: 76% of owners saw tax hikes; deadline May 15 for protests that save ~5-6% on bills amid land values up 200%.
• North Carolina: Bill to freeze...

• Disaster Relief Boost: Extends Federal Disaster Relief Act of 2023 rules to disasters on or before July 4, 2025, declared within 60 days.
• Law...

Key relief for ERC claimants facing disallowances:

• Taxpayers with ≤6 months left on 2-year deadline can file Form 907 for extensions.
• Applies to...

Critical update for 2026 filers: IRS tax refunds now delayed until February due to PATH Act, returned refunds, and processing issues, with Texas highlights. Watch the new video alert.

Critical for Americans abroad: US uses citizenship-based taxation—file returns even if you owe $0, with thresholds as low as $5 for married filing...

Kansas Tax Bill Actions

• 🔥 Governor Vetoes Property Tax Relief: Kansas Governor Laura Kelly vetoed House Bill 2043, a property tax relief bill...

Key IRS relief easing SECURE 2.0 and pandemic-era compliance:

• Notice 2026-9 extends amendment deadline for SEP and SIMPLE IRAs to Dec 31, 2027
  -...