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UBA INC

We are a preeminent tax & accounting firm. Provide a range of customized accurate accountin services.

01/31/2026

The Internal Revenue Service encourages taxpayers to use online tools and take a few simple steps to prepare for claiming new and expanded tax benefits under the One, Big, Beautiful Bill. Families planning to claim the Child Tax Credit, the Adoption Credit, or pay for educational expenses should review these changes before filing.
Most early filing taxpayers who claim the Earned Income Tax Credit and Additional Child Tax Credit can expect their refunds by March 2, 2026,

01/14/2026

The Department of the Treasury and the Internal Revenue Service issued Notice 2026-11 that provides taxpayers with guidance on the permanent 100% additional first year depreciation deduction for eligible depreciable property acquired after Jan. 19, 2025, provided by the One, Big, Beautiful Bill. The notice also provides guidance on certain qualified sound recording productions that the OBBB added as property that may be eligible for the additional first year depreciation deduction.
Generally, when taxpayers acquire property for business use, they must depreciate it over several years based on various depreciation schedules.

01/12/2026

Taxpayers may be able to take advantage of new deductions that could reduce taxable income and increase refunds due to the One, Big, Beautiful Bill, passed by Congress in July 2025. Provisions from the new law can have a significant effect on federal taxes, credits and deductions. The legislation includes four prominent provisions for individuals: the “deduction for seniors,” “no tax on tips,” “no tax on overtime” and “no tax on car loan interest.” Taxpayers claiming these deductions should use Schedule 1-A and see the related instructions.

01/08/2026

The Department of the Treasury and the Internal Revenue Service issued proposed regulations that would revise the threshold for when certain third-party settlement organizations are required to perform backup withholding to comply with changes made in the One, Big, Beautiful Bill.
The proposed regulations provide clarity on backup withholding and would provide that third party settlement organizations generally are not required to backup withhold on payments settled through third party payment networks unless the gross amount of reportable payment transactions to a payee exceeds $20,000 and the number of transactions exceeds 200.

01/06/2026

Taxpayers who received more than $20,000 in payments for goods and services in more than 200 transactions through an online marketplace or payment app in 2025 should expect to receive a Form 1099-K in January 2026. The IRS will also receive a copy of your Form 1099-K.
There have been no changes to the taxability of income. All income, including proceeds from part-time work, side jobs or the sale of goods and services is taxable. Taxpayers must report all income on their tax return unless it's excluded by law, whether they receive a Form 1099-K, a Form 1099-NEC, Form 1099-MISC, or any other information return.

12/18/2025

The new year is less than a month away which means the 2026 tax filing season is drawing near. The IRS encourages taxpayers to “Get Ready” and start preparing now. Taking a few steps today can save time and help taxpayers ensure they’re filing accurate returns in the coming months.

12/12/2025

U.S. Secretary of the Treasury Scott Bessant issued the following statement regarding the ongoing refusal by several Democrat-led states to conform to key provisions of the July 4th bill that President Trump signed into law to deliver historic tax relief for American families and workers:

President Trump’s tax cuts bill is the most pro-worker, pro-family legislation in a generation. It puts more money directly into the pockets of hardworking Americans through No Tax on Tips for dedicated service industry staff, No Tax on Overtime for linemen and factory workers, and a new tax deduction for seniors who depend on Social Security.

12/10/2025

Telehealth and Remote Care Services: - - The OBBB made permanent the ability to receive telehealth and other remote care services before meeting the high-deductible health plan (HDHP) deductible while remaining eligible to contribute to an HSA, effective for plan years beginning on or after Jan. 1, 2025.
- Bronze and Catastrophic Plans Treated as HDHPs: As of Jan. 1, 2026, bronze and catastrophic plans available through an Exchange are considered HSA-compatible, regardless of whether the plans satisfy the general definition of an HDHP. This expands the ability of people enrolled in these plans to contribute to HSAs, which they generally have not been able to do in the past. Notice 2026-05 clarifies that bronze and catastrophic plans do not have to be purchased through an Exchange to qualify for the new relief.
- Direct Primary Care Service Arrangements: Beginning Jan. 1, 2026, an otherwise eligible individual enrolled in certain direct primary care (DPC) service arrangements may contribute to an HSA. In addition, they may use their HSA funds tax-free to pay periodic DPC fees.

12/05/2025

Bearing some costs for expanding your family? Changes under the One, Big, Beautiful Bill makes adoption more affordable. When you claim the Adoption Credit, you can receive up to $17,280 per cub. Fur qualified taxpayers, you can claim eligible expenses such as adoption fees, legal costs and certain travel expenses. This paw-some credit is now partially refundable starting for tax year 2025.

12/03/2025

The Department of the Treasury and the Internal Revenue Service issued a notice announcing upcoming regulations and providing guidance regarding Trump Accounts, which are a new type of individual retirement account (IRA) for eligible children.
Provides a general overview of how Trump Accounts work and addresses certain initial questions about creating initial and rollover Trump Accounts, the $1,000 pilot program contribution, other contributions – including qualified general contributions and section 128 employer contributions – eligible investments, distributions, reporting, and coordination with the rules applicable to other types of IRAs.

12/01/2025

The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2026.
For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily.
The rates are as follows:
- 7% for overpayments (payments made in excess of the amount owed) 6% for corporations.
- 4.5% for the portion of a corporate overpayment exceeding $10,000.
- 7% for underpayments (taxes owed but not fully paid).
- 9% for large corporate underpayments.

11/28/2025

The Department of the Treasury and the Internal Revenue Service today issued Notice 2025-70 PDF, requesting comments on the implementation of a new tax credit for individuals established under the One, Big, Beautiful Bill. This new credit applies to contributions to Scholarship Granting Organizations that serve elementary and secondary school students from low- and middle-income families.
Beginning Jan. 1, 2027, individual taxpayers may claim a nonrefundable federal tax credit for cash contributions to SGOs providing scholarships for elementary and secondary education expenses. The credit allowed to any taxpayer is limited to $1,700.

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820 West Spring Creek Parkway
Plano, TX
75023

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