An important Form 990 filing deadline is quickly approaching for many tax-exempt organizations. Organizations with a June 30, 2026, fiscal year-end are required to file their annual Form 990 return by November 15,2026, which is the 15th day of the fifth month following the end of their tax year.

Choosing a business entity is most likely not at the top of most business owners’ list of exciting decisions. However, getting the structure right can make a big difference in how your business is taxed, the way that you pay yourself, how profits are handled, and how easy it can be to bring in new owners or investors.

A good allocation methodology is not one that never changes. It is one that continues to faithfully reflect how the organization uses its resources to advance its mission.

Colleges and universities depend on federal and state funding to support student financial aid, academic programs, research, workforce development, public service, facilities, and institutional initiatives. These resources expand access and help institutions pursue projects that may not be possible with tuition and other operating revenue alone.

The IRS is now beginning to optimize electronic access and delivery to best assist taxpayers. These latest updates represent a significant step forward.

The IRS's recent FAQ update provides important guidance as employers and taxpayers prepare for the new qualified overtime deduction and the first year of mandatory separate reporting.

Eight Questions Leadership Should Ask Before Trusting the WIP

Making estimated tax payments throughout the year can help reduce penalties and prevent unexpected tax bills at filing time.

HHM is closely monitoring the TAS Act as it moves forward.

Taxpayers and employers should review their records, policies, and contribution or leave program designs in light of the amended statutory rules and the latest available IRS guidance.

Hope says, "We should be better next month." A benchmark-based budget says, "Here is exactly what better means.”

As Form 5500 filing deadlines approach (extended due date of October 15 for calendar year plans), plan sponsors, administrators, recordkeepers, and auditors need to work together to gather information and evaluate plan operations for the year.

Hope Is Not a Plan: Tracking Trends

QPRTs remain a technical, narrowly-tailored planning tool. Their effectiveness depends on the grantor's age, the term selected, the prevailing Section 7520 rate, and careful attention to post-term rent and GST/ETIP issues.

Designated Officials of S corps and C corps who registered for a Business Tax Account in 2025 have an upcoming deadline to renew their role.

Florida 2026 Sales Tax Holidays and Updates

2026 Tax Free Weekend

IRS’ New Easy Button for Penalty Relief

Beginning in 2027, taxpayers will be eligible to claim a federal income tax credit, formally known as the Federal Tax Credit for Scholarships (FTCS), for donations made to qualified Scholarship Granting Organizations (SGOs).

In today’s environment, lower dealership valuations aren’t just a challenge—they’re an opportunity. Using this window to transfer ownership at reduced values, leveraging tools like IDGTs, and preparing for upcoming estate tax changes can create long-term savings and strengthen succession plans.

HHM CPAs was recognized by United Way of the Mid-South during the organization's Corporate Sponsor Appreciation Breakfast on June 23, 2026, receiving two awards that highlight the firm's commitment to community involvement and employee giving.

Learn how to create your IRS Online Account with ID.me and take advantage of secure, convenient access to your tax records, payments, notices, and other valuable IRS services.

Trump Accounts are an opportunity for children to begin saving and learn the ins-and-outs of financial discipline.

The FTC's warning letters serve as a clear indication that pricing transparency remains a major enforcement priority within the automotive industry.

A multi-million dollar floor plan fraud can happen completely without an owner's knowledge.