Goldenthal & Suss Consulting PC
G&S Monthly
Tax insights, advisory updates, and regulatory guidance for our clients and friends. Delivered the first of each month.
Current Issue
September 2026
Volume I · Issue 12
FIRE System Is Being Retired — Time to Prepare for IRIS
The IRS is reminding filers who use the Filing Information Returns Electronically (FIRE) system to start planning for its retirement ahead of the 2027 filing season. Businesses that file 1099s and other information returns should begin the move to the newer IRIS platform now to avoid a scramble in January.
IRS Expands Business Tax Account — Now Reaching More Nonprofits and Government Entities
The IRS added new self-service features to its online Business Tax Account this year, including digital notices, payment-plan management, and Offer in Compromise payments. Notably, eligibility now extends to tax-exempt organizations, governmental entities, and tribal governments — not just corporations — giving our nonprofit and municipal clients another tool to manage federal tax matters online.
Congress Passes Disaster Tax Relief Bill; AICPA Pushes for Permanency
Congress has passed a federal disaster tax relief bill that writes long-standing disaster relief provisions directly into the tax code, waiving the 10%-of-AGI limitation on losses and raising the per-casualty deduction floor to $500. The AICPA is applauding the move but urging Congress to make the relief permanent rather than re-passing it disaster by disaster.
Tax Tips
Overtime Deduction FAQs Updated
The IRS revised its FAQs on the new qualified overtime deduction (Fact Sheet 2026-13). If your business pays overtime, take a look before your next payroll and year-end reporting cycle.
Q4 Interest Rates Hold Steady
IRS interest rates on underpayments and overpayments are unchanged for the quarter beginning October 1, 2026 — useful to know if you're weighing whether to pay down a balance now or later.
Phishing Season Never Really Ends
The IRS and Security Summit partners are again warning taxpayers and preparers about phishing emails impersonating the IRS. Don't click links or share information in unsolicited tax-related emails or texts — call our office if anything looks off.
New Scholarship Tax Credit Requires State Opt-In
Starting in 2027, individuals may be able to claim a federal credit for gifts to Scholarship Granting Organizations — but only in states that choose to participate. Nonprofit and donor clients in NY/NJ should watch for state participation announcements.
QuickBooks
Reconcile Before Quarter-Close
With Q3 wrapping up September 30, take a few minutes to reconcile your bank and credit card feeds in QuickBooks now. It's much easier to fix a handful of miscategorized transactions today than an entire quarter's worth in October.
Upcoming Tax Due Dates
Q3 2026 estimated tax payments due (individuals and calendar-year corporations)
Extended deadline for 2025 partnership and S corporation returns (Forms 1065 and 1120-S)
Extended deadline for calendar-year trusts and estates (Form 1041)
Archive
Past Issues
August
2026
- A New Type of Tax-Advantaged Account for Children
- Choosing the Right Business Funding Solution
- Plan Now for Deferring Tax on Advance Payments
- Single? You Still Need an Estate Plan
July
2026
- Simple Retirement Solutions for Small Business Owners
- How Renting Out Your Vacation Home Affects Your Taxes
- Revisit Your Emergency Fund Goals
- Backup Withholding: What Businesses Should Know
June
2026
- Take Advantage of Expanded QSB Stock Tax Benefits
- Reducing IRS Audit Risk for Small Businesses
- How an Educational Assistance Program Can Strengthen Your Benefits Package
- Get Ahead With a Midyear Tax Review
May
2026
- Turn a Real Estate Sale Into a Tax-Smart Strategy
- Before You Shred: Know Which Tax Records to Keep
- Plan Carefully to Minimize Taxes on Your Inheritance
- How Hiring Your Child This Summer Can Reduce Taxes
April
2026
- What to Know If You Receive an IRS Notice
- The IRS Criteria for Distinguishing Hobbies From Businesses
- Common Growth Mistakes Small Businesses Make
- Are College Scholarships Really Tax-Free?
March
2026
- What's New for Retirement Catch-Up Contributions in 2026
- Businesses Regain Immediate Deduction for R&E Expenses
- IRS Expands Digital Asset Reporting with New Form 1099-DA
- Don't Let the AMT Catch You Off Guard
February
2026
- Unlock Bigger Deductions on Rental Real Estate
- Estate Planning for 2026 and Beyond
- Taking Control with Self-Directed IRAs
- 2026 Tax Law Changes for Businesses
January
2026
- Can You Claim a Tax Deduction for Tips or Overtime Income?
- Businesses: Act Soon for Clean Energy Tax Incentives
- Make Smart Choices With a Sudden Windfall
- 2026 Tax Law Changes for Individuals
December
2025
- How Does the New Tax Deduction for Car Loan Interest Work?
- NOL Deductions Can Ease the Pain of Business Losses
- The Tax Implications of Remote Work
- Simplify Expense Reporting With High-Low Travel Per Diem Rates
November
2025
- Bonus Depreciation and Other Year-End Tax-Saving Tools
- 5 Smart Tips for Individual Year-End Tax Planning
- Throwing a Party for Your Workforce? Know the Tax Rules
- Make Sure Every Donation Counts
October
2025
- Year-End Tax Planning Strategies
- Business Entity Selection and Tax Implications
- Retirement Plan Contribution Deadlines
- QuickBooks Year-End Checklist
Stay Informed
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