Treasury Tipped Occupation Codes: Understanding Box 14b on 2026 Form W-2
Form W-2 now includes Box 14b for reporting Treasury Tipped Occupation Codes. Learn when employers must report these codes and why they matter for tipped employees.
New Auto Loan Interest Reporting Under OBBBA: What Lenders Need to Know
The OBBBA created a new auto loan interest deduction and reporting requirement for lenders. Starting with 2026 interest, lenders may need to report qualifying vehicle loan interest using Form 1098-VLI. Learn about qualifying loans, filing deadlines, and what lenders need to track.
Form 1098-VLI Explained: Vehicle Loan Interest Filing Requirements for Lenders
Lenders that issue qualifying vehicle loans must file Form 1098-VLI to support a new federal deduction established by the One Big Beautiful Act (OBBBA). Understanding who must file, what information is required, and when to file is essential as lenders prepare for this upcoming filing season.
W-2 Box 12 Code TT vs. Box 14: What Changed for Qualified Overtime Reporting?
Beginning with 2026 W-2s, qualified overtime compensation under the OBBBA moves from optional Box 14 reporting to standardized Box 12, Code TT; here's what employers need to know before year-end filing.
IRS Update: Eligible Taxpayers May Receive Automatic Exemption from Penalty (AEP)
AEP (Automatic Exemption from Penalty) is the IRS's new automatic penalty relief program for taxpayers with a clean filing and payment history. Launching in summer 2026, AEP automatically waives specific penalties for compliant taxpayers without directly requesting relief.
One Big Beautiful Bill Act: 12 Key Tax Changes for 2026
The One Big Beautiful Bill Act (OBBBA) brings 12 major tax changes for 2026, including permanent tax rates, a bigger QBI deduction, no tax on tips and overtime, and higher SALT and estate tax caps, that business owners and tax professionals need to know before filing season.
Form 1099-NEC Instructions for 2026 Tax Year: A Complete Guide
2026 Form 1099-NEC 2026 updates include new $2,000 threshold, golden parachute reporting changes and more. Here's what filers need to know before the 2027 filing season.
Form 1099-MISC Instructions for 2026 Tax Year: A Complete Guide
Form 1099-MISC is getting a major overhaul for tax year 2026. The reporting threshold jumps from $600 to $2,000 for most payments, three new boxes cover tips and overtime, and golden parachute payments are moving. Here's what filers need to know before the 2027 filing season.