Tax News Highlights

Tax News Highlights

Each issue features information on the latest tax developments in an easy-to-scan format to help you keep pace with valuable federal, state and local, and international tax updates.

Recent updates

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Senate Passes Bill, Now Back to the House
Trump To Sign Tax and Budget Law
The tax and budget bill passes the House and moves to the president, bringing certainty for taxpayers waiting for the significant tax law changes.
Legislation Aims To Standardize NIL Rules
Legislation Aims To Standardize NIL Rules
The recently introduced bipartisan College SPORTS Act aims to establish a national NIL framework that includes protections for student-athletes.
Senate Passes Bill, Now Back to the House
Senate Passes Bill, Now Back to the House
The tax and budget bill continues to move forward as the Senate passes its version with significant changes and the bill returns to the House.
Illinois state flag displayed, symbolizing the state's new tax amnesty programs for businesses in the FY 2026 budget.
Illinois Enacts Tax Amnesty Programs
Illinois’ FY 2026 budget launches tax amnesty, offering penalty relief to help businesses resolve past tax liabilities.
Illinois State Capitol building, a symbol of government, amidst news of significant tax changes affecting businesses.
Illinois Enacts Significant Tax Changes
Illinois enacts H.B. 2755 with key tax changes; businesses should review GILTI, sourcing rules, new credits, and penalties for impact.

A skyline view featuring tall buildings, representing the urban landscape amid discussions on tax reform by Senator Wyden.
Senator Wyden Releases Partnership Tax Rewrite
Senator Wyden proposes major partnership tax reforms, aiming to change how and when partners recognize income and adjust their basis.
Senate Passes Bill, Now Back to the House
Trump To Sign Tax and Budget Law
The tax and budget bill passes the House and moves to the president, bringing certainty for taxpayers waiting for the significant tax law changes.
Legislation Aims To Standardize NIL Rules
Legislation Aims To Standardize NIL Rules
The recently introduced bipartisan College SPORTS Act aims to establish a national NIL framework that includes protections for student-athletes.
Senate Passes Bill, Now Back to the House
Senate Passes Bill, Now Back to the House
The tax and budget bill continues to move forward as the Senate passes its version with significant changes and the bill returns to the House.
Illinois state flag displayed, symbolizing the state's new tax amnesty programs for businesses in the FY 2026 budget.
Illinois Enacts Tax Amnesty Programs
Illinois’ FY 2026 budget launches tax amnesty, offering penalty relief to help businesses resolve past tax liabilities.
Illinois State Capitol building, a symbol of government, amidst news of significant tax changes affecting businesses.
Illinois Enacts Significant Tax Changes
Illinois enacts H.B. 2755 with key tax changes; businesses should review GILTI, sourcing rules, new credits, and penalties for impact.

A skyline view featuring tall buildings, representing the urban landscape amid discussions on tax reform by Senator Wyden.
Senator Wyden Releases Partnership Tax Rewrite
Senator Wyden proposes major partnership tax reforms, aiming to change how and when partners recognize income and adjust their basis.
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Rochelle Hodes
Rochelle Hodes
Principal, Washington National Tax