The IRS has increased the standard business mileage rate for the second half of 2026. Businesses reimbursing employees for mileage should update their policies, and individuals should maintain accurate mileage records to support deductions or reimbursements.
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The IRS has released guidance on Trump Accounts, a new savings option created under the Working Families Tax Cuts Act. The accounts are designed to help families save for a child’s future, with certain contributions eligible for tax benefits and special rules applying to qualifying deposits. Families interested in opening an account should review eligibility requirements and contribution guidelines as more details become available.
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