In the blogs: You got to know when to hold 'em

Proactive November tax actions; better-coordinated fraud enforcement; corporate spin-offs; and other highlights from our favorite tax bloggers.

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You got to know when to hold ’em

Withum: Gamblers may assume that a year of winning and losing similar amounts carries no tax consequence. Beginning with the 2026 tax year, that assumption no longer holds: A change enacted as part of the One Big Beautiful Bill Act can leave a gambler with taxable income despite no economic gain, a result often described as phantom income.
RSM: In a favorable development for tax-free spin-off planning, the Treasury Department and the IRS have removed three proposed restrictions that could have made tax-free corporate spin-offs more difficult for companies holding substantial cash, investment assets or other nonbusiness assets. The Oct. 21 action withdraws a proposed per se device test and two anti-abuse rules from regulations first proposed in 2016.
CBIZ: Many tax-exempt organizations are familiar with the IRS’s online tools for individuals, but fewer are aware that the IRS has expanded access to its Business Tax Account platform to include tax-exempt organizations. The BTA is a secure online portal that allows authorized representatives of an organization to access certain IRS information and perform various tax administration functions electronically, rather than relying solely on paper correspondence or phone calls with the IRS.

Lavishly exempted

ITEP: President Trump and his allies in Congress have made serious changes to corporate income taxation, reducing the statutory tax rate to its lowest level since 1939 and lavishly exempting an enormous share of corporate income from taxation. The results? Last year, the largest profitable corporations in the country paid the smallest share of their profits in federal income taxes in over 40 years.
The Tax Times: The federal workforce reductions associated with DOGE and the Trump administration’s 2025 restructuring efforts have significantly affected the IRS Independent Office of Appeals. The most important consequence is that Appeals lost approximately 28% of its officers, while the average number of cases assigned per officer increased by approximately 73%.
Tax Foundation: A recent report by the Government Accountability Office estimates the federal government loses $116 billion to $304 billion annually to tax fraud. That amounts to between 2 and 6% of federal taxes owed. The report adds to the case for a simpler Tax Code and better-coordinated fraud enforcement at the IRS.

Proactive disclosure

Eide Bailly: A voluntary disclosure agreement is an agreement between a business and a state tax authority that grants the business the opportunity to self-report any unfiled or unpaid tax obligations before the state contacts it. A taxpayer that enters into a VDA must still pay any tax owed, but in exchange for this proactive disclosure, states typically allow some combination of the following: a limited “look-back” period, some penalty waiver, audit protection and in some states, reduced interest.
Trout CPA: A construction project may be profitable on paper, but unexpected sales and use tax liabilities can quickly eat into those margins. From purchasing materials to determining applicable exemptions, overlooking construction sales tax obligations can result in additional costs, compliance issues and potential tax assessments. This blog explores seven common construction sales and use tax mistakes and practical steps contractors can take to avoid them.
Don’t Mess With Taxes: With two months left in the 2026 tax year, there is some flexibility. This month’s moves take advantage of that, looking mainly at proactive November tax actions that could help reduce a client’s 2026 tax bill. But there’s also some tax law reminders to prevent you from running afoul of Uncle Sam’s tax collector. With the tax table set, this blog covers this November’s five suggested tax moves.

Revisit gifting plans

Dean Dorton: As year-end approaches, many families begin evaluating charitable giving, tax planning opportunities and ways to transfer wealth to the next generation. One of the most effective estate planning tools available is strategic gifting. When used thoughtfully, annual gifts and lifetime gifting strategies can help reduce future estate taxes, transfer assets efficiently and create meaningful financial support for loved ones. For individuals and families with long-term wealth transfer goals, the end of the year is an ideal time to revisit gifting plans and ensure annual opportunities are not left unused.
CLA: A little planning before year-end could potentially lower a business’ tax bill and allow it to capture available deductions and credits. Some practical strategies can help uncover possible tax savings, avoid missed opportunities and have more productive tax advisor conversations before Dec. 31.
National Association of Tax Professionals: If there are individual or business returns to e-file before year-end, mark Dec. 26 on your calendar. According to the IRS’s Oct. 23 announcement, the Modernized e-File “Send Submissions” function stops at 11:59 a.m. EST on Dec. 26, while acknowledgment retrieval and other service requests remain available until 11:59 p.m. the same day.