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IRS Updates on ERC, Form 1099K, 2025 Transition Relief, and Stablecoins
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Subscribe27 OCT 2025 / IRS UPDATES
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The Internal Revenue Service (IRS) is handling new changes brought forth by The One Big Beautiful Bill Act (OBBBA), including car loan interest deductions, changes to Employee Retention Credit refunds, and considerations of whether stablecoins qualify as tips. These alterations matter because they could significantly impact American taxpayers and businesses, prompting worries among accountants due to the potential complexity and burden of increased paperwork.
Picture this: the IRS is juggling car loans, crypto tips, and pandemic-era tax credits like a CPA at year-end closeout week. The One Big Beautiful Bill Act (OBBBA), yes, that’s its real name, is rolling out changes faster than a Tesla off the lot. A...
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