We Do Books™ Blog

If you’re used to getting your tax refund as a paper check, that era is basically over. In March 2025, a presidential executive order directed federal agencies to move federal payments and collections away from paper and into electronic systems “to the extent permitted by law.” That includes IRS refunds and, eventually, payments to the IRS as well. Following that order, the IRS announced that it would begin phasing out paper refund checks for individual taxpayers starting September 30, 2025. For the 2026 filing season and beyond, taxpayers should assume that refunds will normally be paid electronically, with paper checks reserved for a shrinking set of exceptions.

For years, crypto tax reporting has lived in a strange world where taxpayers were expected to self-report everything while the IRS had limited third-party visibility. That era is ending. Starting with 2025 transactions, custodial crypto platforms must begin reporting certain digital asset sales and exchanges on a new IRS information return: Form 1099-DA (Digital Asset Proceeds From Broker Transactions). That means more taxpayers will receive crypto tax forms that look and feel a lot like the brokerage forms we have dealt with for decades. Convenient? Eventually. Pain-free? Do not get carried away.

With the passage of the One Big Beautiful Bill Act (OBBBA) of 2025, there's the ability to receive a deduction for overtime pay from your federal tax obligation. Here's a recap of the rule and several tax tips to ensure you receive the full benefit of the deduction.

New Mileage Rates Announced by the IRS Big news for 2026: Updated mileage rates are here! The way you record your travel could earn you extra cash in your pocket. The standard business mileage rate increases by 2.5 cents to 72.5 cents per mile. The medical and moving mileage rates go down 1/2 cent to 20.5 cents per mile. Charitable mileage rates remain unchanged at 14 cents per mile.

The One Big Beautiful Bill Act (OBBBA) makes tip income tax-free. But as with any new tax law, the fine print matters, and some of these details still need clarification. Here is what you should know.