Tax

The poorest 10% of households will lose an average of $1,200 in resources per year, while households in the highest 10% of incomes will see about a $13,600 boost in resources. 

Even the wonkiest experts are struggling to keep up with the latest macroeconomic data. Here are the key factors to watch in the coming months.

President Trump has removed Billy Long as commissioner of the Internal Revenue Service in the latest sign of turmoil at the embattled agency.

Treasury Secretary Bessent will serve as acting commissioner, as President Trump plans to nominate Long for an ambassadorship.

The One Big Beautiful Bill Act is sparking questions among employees and payroll departments about how to handle tax breaks such as overtime pay.

If businesses focus solely on the size of the tariffs — and where they land — they'll miss a profound challenge and opportunity that this moment presents.

The move will enlarge refunds paid out to taxpayers early next year, ahead of the midterm congressional elections in November 2026.

The Internal Revenue Service won't be changing information returns and withholding tables for 2025 for the OBBA, but changes are coming next year.

The expansion of the Qualified Small Business Stock program in the One Big Beautiful Bill Act makes a powerful tax-saving strategy even more enticing.

But the new rules for deductions, capital-gains exclusions and estate planning merit a lot of strategic discussions for financial advisors and entrepreneurial clients.