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Updates & News Important to You

The world of finance is one in which the laws and rules seem to always change. At Cg, it’s not enough that we are up to date with all the new developments; we want our clients to be aware as well. Here are the latest bulletins, case rulings, and regulations that may affect you and your business — it’s everything you need to know.

As always, if you have any questions about what you are reading or want to know how the changes affect your financial and business interests, don’t hesitate to contact us. We’ll be happy to explain how the new rules and principles work.

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07 Nov

Federal Tax, Tax

AICPA Seeks IRS Guidance on New Deduction Reporting

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October 30, 2025

Recently, the American Institute of Certified Public Accountants (AICPA) asked the IRS to clarify reporting and substantiation requirements for deducting qualified tips and overtime pay. These deductions were made available by the One Big...

04 Nov

Federal Tax, Tax

IRS Updates Form 1099-K FAQs Following the OBBBA

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October 29, 2025

The IRS has updated its FAQ page for Form 1099-K (Payment Card and Third Party Network Transactions). The One Big Beautiful Bill Act retroactively reinstates the lower Form 1099-K reporting thresholds that applied before...

03 Nov

Federal Tax, Tax

Cybersecurity Essentials for Businesses: Lessons from the IRS

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October 24, 2025

October was National Cybersecurity Awareness Month, a time when the IRS and its Security Summit partners remind us about best practices for protecting personal information. For example, use a virtual private network when connecting...

29 Oct

Federal Tax, Tax

Open Enrollment Starts Nov. 1: Explore HDHP and HSA Benefits

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October 24, 2025

Health insurance open enrollment begins Nov. 1. One option is a high-deductible health plan (HDHP) paired with a Health Savings Account (HSA). You fund the higher deductible by contributing pretax income to the HSA....

29 Oct

State & Local Tax, Tax

Deadline for New Jersey Property Tax Relief Programs Approaching

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October 29, 2025

For the first time, New Jersey residents meeting certain eligibility requirements have the opportunity to apply for three property tax relief programs via one application, the PAS-1: Senior Freeze - Property tax reimbursement for homeowners...

29 Oct

Podcast Blog

Episode 76 – Major Changes to R&D Tax Credits: What the One Big Beautiful Bill Means for Your Business

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October 27, 2025

Featuring Jennifer Flynn, VP of CPA Partnerships at Source Advisors & John Blake, CPA, MBA, Director in Cg's Tax Services Group In a recent episode of the Cg Business Advisor Podcast, tax...

28 Oct

Federal Tax, Tax

IRS Sets Higher 2026 Limits for FSAs and HSAs

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October 17, 2025

Employers and employees, take note: The IRS has released 2026 inflation-adjusted limits for employee health benefits. Workers who defer earnings to health Flexible Spending Accounts (FSAs) can contribute as much as $3,400 in 2026...

27 Oct

Federal Tax, Tax

Maximize Year-End Tax Savings with the 2025–2026 Gift Tax Exclusion

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October 14, 2025

As the year winds down, you may be hoping to combine smart estate tax planning with tax savings using the annual gift tax exclusion. For 2025 and 2026, this exclusion is $19,000, which you...

24 Oct

Federal Tax, Tax

2026 Annual Inflation-Adjusted Income Tax Brackets

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October 16, 2025

The IRS has announced its annual inflation-adjusted income tax brackets and other amounts. For 2026, the highest rate (37%) will apply to taxable income over $640,600 for individuals ($768,700 for married filing jointly and...

23 Oct

Federal Tax, Tax

IRS Cracks Down on Unpaid Payroll Taxes with Penalties

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October 13, 2025

Employers who’re responsible for collecting payroll tax and remitting it to the IRS can face a penalty equal to 100% of the unpaid amount if they willfully fail to do so. The Trust Fund...

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Updates & News Important to You

News and Articles

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