Gerald L. Krug CPA, S.C.

04/08/2026

Comic relief for tax preparers and victims alike!:

Did you receive a 1099? If so, this quiz is about to get a lot harder.

03/25/2026

For Federal refund, direct deposit, not checks:

As the IRS pushes to phase out the use of paper checks, more than 800,000 tax filers are now facing delays in getting their refunds. CBS News national report...

01/26/2026

Today is the start of the 2026 tax filing season. Here is a useful article describing changes for the 2025 returns:

Due to several major tax rule changes, your 2025 return might feel unfamiliar even if your income looks the same.

01/16/2026

Tax filing season opens January 26:

IR-2026-02, Jan. 8, 2026 — The Internal Revenue Service announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. This year, several new tax law provisions of the One, Big, Beautiful Bill become effective, which could impact federal taxes, credits and deductions.

11/04/2025

In the latest "Can you believe this?" moment, a Michigan man was arrested for impersonating a CPA! Now I have seen it all! See link:

Joseph Vanator of Vantors & Associates in Eaton Rapids, Michigan, was arraigned in late October and charged with one count of accounting violations, a five-year felony.

10/15/2025

The I.R.S. announced the 2026 tax brackets and other figures:

IR-2025-103, Oct. 9, 2025 — The Internal Revenue Service today announced the tax year 2026 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2025-32 provides details about these annual adjustments.

09/17/2025

The IRS released draft form 1-A for reporting tips, overtime, car loan interest, and the enhanced deduction for seniors on 2025 tax returns. None of these deductions are available to "billionaires", "rich", or "1%.":

The Internal Revenue Service has posted a draft version of Schedule 1-A that will be used next tax season when claiming new tax breaks.

07/11/2025

A Wall Street Journal article about the "Big Beautiful Bill" is linked below. I don't like the projected increase in the deficit, nor the whopping increase to $40,000 for the state-and-local-taxes deduction. But many provisions reduce taxes for working people, despite the usual narrative ("tax cuts for millionaires", etc.) by the slanted coverage of the media. Good luck for them to explain their opposition to cuts for taxpayers who collect Social Security, work overtime, or receive tips. These folks are not millionaires!

The new law presents immediate opportunities and long-term planning considerations for businesses and individuals

04/15/2025

Shortage of CPAs and trending worse:

More than 300,000 accountants and auditors left their jobs in the past two years and there aren't a lot of people stepping up to fill those spots.

04/15/2025

Another tax season in the books. As usual, the load seemed insurmountable on April 1, but reached the top of the hump on Saturday, April 12. Hopefully weather cooperates for a road trip next week.