https://www.forbes.com/sites/kellyphillipserb/ en-us https://secure.gravatar.com/avatar/e8bc935b76c1deaa34ea856ea8a1f96f?s=400&d=mm&r=g https://www.forbes.com/sites/kellyphillipserb/ Kelly Phillips Erb's stories. Copyright 2026 Forbes Media LLC https://www.forbes.com/sites/tax-breaks/2026/08/22/tax-breaks-the-surprising-court-ruling-on-tax-edition/ Plus: Treasury nixes beneficial ownership information (BOI) reporting, new retirement rollover forms, students and scholarships, Opportunity Zones, tax trivia and more. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a88a8e6a4cc22bd7f335444 Sat, 22 Aug 2026 10:00:00 -0400 2026-08-22T10:00:00-04:00 Plus: Treasury nixes beneficial ownership information (BOI) reporting, new retirement rollover forms, students and scholarships, Opportunity Zones, tax trivia and more. getty Newsletters /newsletters-old Newsletters /newsletters-old Money /money Taxes /taxes Editors' Pick editors-pick Newsletter newsletter Tax Breaks tax-breaks premium https://www.forbes.com/sites/kellyphillipserb/2026/08/20/irs-updates-business-interest-deduction-guidance-following-tax-law-changes/ Revised FAQs for the business interest deduction explain changes to adjusted taxable income, floor plan financing, capitalization rules, and CFC inclusions. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a870ec7f56a3296dd504573 Thu, 20 Aug 2026 10:34:35 -0400 2026-08-20T10:37:32-04:00 Revised FAQs for the business interest deduction explain changes to adjusted taxable income, floor plan financing, capitalization rules, and CFC inclusions. getty Taxes /taxes Money /money Taxes /taxes Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/08/17/fifth-circuit-reverses-course-on-limited-partner-self-employment-tax-exception/ The court withdrew its January opinion and replaced it with a new test focused on whether a partner plays a significant role in managing or running the business. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a838a9a712ac331be1fbef8 Mon, 17 Aug 2026 18:35:58 -0400 2026-08-17T18:36:07-04:00 The court withdrew its January opinion and replaced it with a new test focused on whether a partner plays a significant role in managing or running the business. getty Taxes /taxes Money /money Taxes /taxes Business /business Policy /policy Small Business /small-business Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/tax-breaks/2026/08/15/tax-breaks-the-capital-gains-and-billion-dollar-deals-edition/ Plus: Treasury nixes beneficial ownership information (BOI) reporting, new retirement rollover forms, students and scholarships, Opportunity Zones, tax trivia and more. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a7f7d9c1035d3e46cc63d02 Sat, 15 Aug 2026 10:00:00 -0400 2026-08-15T10:00:00-04:00 Plus: Treasury nixes beneficial ownership information (BOI) reporting, new retirement rollover forms, students and scholarships, Opportunity Zones, tax trivia and more. getty Newsletters /newsletters-old Newsletters /newsletters-old Editors' Pick editors-pick Newsletter newsletter Tax Breaks tax-breaks premium https://www.forbes.com/sites/kellyphillipserb/2026/08/13/moving-your-401k-new-irs-forms-could-make-rollovers-easier/ The optional forms aim to standardize direct rollovers, encourage electronic transfers, and take some of the paperwork out of moving retirement savings. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a7dd96e553676bf3ea67133 Thu, 13 Aug 2026 11:03:24 -0400 2026-08-13T11:07:16-04:00 The optional forms aim to standardize direct rollovers, encourage electronic transfers, and take some of the paperwork out of moving retirement savings. getty Taxes /taxes Money /money Taxes /taxes Retirement /retirement Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/08/11/us-businesses-no-longer-face-corporate-transparency-act-reporting/ A final rule from the U.S. Treasury eliminates reporting requirements for U.S. companies and persons under the Corporate Transparency Act, which remains on the books. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a7bc325959ebfc30e3e7f68 Tue, 11 Aug 2026 21:10:04 -0400 2026-08-11T21:10:14-04:00 A final rule from the U.S. Treasury eliminates reporting requirements for U.S. companies and persons under the Corporate Transparency Act, which remains on the books. getty Taxes /taxes Money /money Taxes /taxes Business /business Small Business /small-business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/tax-breaks/2026/08/01/tax-breaks-the-no-covid-era-irs-penalty-relief-answers-yet-edition/ Plus: FIFA’s World Cup sales pitch, Social Security field offices, best places to retire abroad, capital gains, stock compensation, selling your home, tax trivia & more. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a6d19fb6be056b5db24cca9 Sat, 01 Aug 2026 10:00:00 -0400 2026-08-01T10:00:00-04:00 Plus: FIFA’s World Cup sales pitch, Social Security field offices, best places to retire abroad, capital gains, stock compensation, selling your home, tax trivia & more. getty Newsletters /newsletters-old Newsletters /newsletters-old Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick Newsletter newsletter Tax Breaks tax-breaks premium https://www.forbes.com/sites/kellyphillipserb/2026/07/30/fifas-20-billion-question-can-the-world-cup-have-private-owners/ A proposal to sell a stake in FIFA to manage operations of its main events, including the men’s and women’s World Cups, has the potential to raise tricky tax questions. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a6bbe5fb8bc52d6b6733849 Thu, 30 Jul 2026 19:10:51 -0400 2026-07-30T19:11:01-04:00 A proposal to sell a stake in FIFA to manage operations of its main events, including the men’s and women’s World Cups, has the potential to raise tricky tax questions. FIFA via Getty Images Taxes /taxes Money /money Taxes /taxes Business /business SportsMoney /sportsmoney Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/30/senators-demand-answers-on-social-security-administration-office-closures/ The inquiry into reported office closures puts renewed focus on Frank Bisignano’s management of Social Security and whether one executive can effectively run both the SSA and the IRS. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a6b9c0a23008e769c627bad Thu, 30 Jul 2026 15:14:36 -0400 2026-07-30T20:52:51-04:00 The inquiry into reported office closures puts renewed focus on Frank Bisignano’s management of Social Security and whether one executive can effectively run both the SSA and the IRS. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/29/tax-court-pushes-back-on-some-kwong-related-covid-penalty-claims/ A recent U.S. Tax Court order suggests it could significantly limit taxpayers’ ability to recover penalties and interest assessed during the COVID-19 pandemic. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a69eff6658caaf8f435b427 Wed, 29 Jul 2026 08:41:32 -0400 2026-07-31T13:45:47-04:00 A recent U.S. Tax Court order suggests it could significantly limit taxpayers’ ability to recover penalties and interest assessed during the COVID-19 pandemic. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Small Business /small-business Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/tax-breaks/2026/07/25/tax-breaks-the-trust-the-tax-process-edition/ Plus: Caring for parents, taxing billionaires, buy-sell planning for business owners, LeBron’s move to Philly, tax trivia, and more. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a63e88f8bde2f3b6f094db1 Sat, 25 Jul 2026 10:00:00 -0400 2026-07-25T19:00:16-04:00 Plus: Caring for parents, taxing billionaires, buy-sell planning for business owners, LeBron’s move to Philly, tax trivia, and more. Getty Images Newsletters /newsletters-old Newsletters /newsletters-old Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Retirement /retirement Editors' Pick editors-pick Newsletter newsletter Tax Breaks tax-breaks premium https://www.forbes.com/sites/kellyphillipserb/2026/07/24/the-safest-states-for-retirement-and-the-tax-risk-most-rankings-miss/ When thinking about where to retire, most seniors don’t think about fraud risks. But fraud is a growing threat to retirement security. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a6252f35d8873c3afbcdac2 Fri, 24 Jul 2026 14:58:30 -0400 2026-07-24T14:58:42-04:00 When thinking about where to retire, most seniors don’t think about fraud risks. But fraud is a growing threat to retirement security. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Retirement /retirement Business /business Policy /policy money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/23/congressional-republicans-reject-stiffer-penalties-for-meddling-in-irs-audits/ The proposal targeted violations of section 7217, which bars the president and other senior officials from directing audits or investigations of particular taxpayers. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a622e93e8a7ae3f2f2ec858 Thu, 23 Jul 2026 16:59:49 -0400 2026-07-23T17:00:03-04:00 The proposal targeted violations of section 7217, which bars the president and other senior officials from directing audits or investigations of particular taxpayers. CQ-Roll Call, Inc via Getty Images Taxes /taxes Money /money Taxes /taxes money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/23/as-ive-seen-caring-for-kids-and-aging-parents-costs-more-than-money/ Members of the sandwich generation report it can consume hours, while limiting career choices and retirement savings. Tax breaks may cover only a fraction of the cost. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a623e54e8a7ae3f2f2ec863 Thu, 23 Jul 2026 16:37:51 -0400 2026-07-23T16:38:00-04:00 Members of the sandwich generation report it can consume hours, while limiting career choices and retirement savings. Tax breaks may cover only a fraction of the cost. getty Taxes /taxes Money /money Taxes /taxes Leadership /leadership ForbesWomen /forbeswomen Business /business Policy /policy Careers /careers Personal Finance /personal-finance money taxes premium https://www.forbes.com/sites/tax-breaks/2026/07/18/tax-breaks-the-old-tax-ideas-are-new-again-edition/ Plus: IRS releases midyear mileage rates, heat wave-related expenses, taxing artificial intelligence, all about tax abatement, tax trivia, and more. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a5aaa64571e1359ca3c7e0a Sat, 18 Jul 2026 10:00:00 -0400 2026-07-18T10:00:00-04:00 Plus: IRS releases midyear mileage rates, heat wave-related expenses, taxing artificial intelligence, all about tax abatement, tax trivia, and more. getty Newsletters /newsletters-old Newsletters /newsletters-old Editors' Pick editors-pick Newsletter newsletter Tax Breaks tax-breaks premium https://www.forbes.com/sites/kellyphillipserb/2026/07/17/watchdog-finds-serious-gaps-in-irs-contractors-taxpayer-data-security/ The TIGTA findings include 1,375 unauthorized entries into restricted areas, unpatched system vulnerabilities, and failures to follow IRS security requirements. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a5a67c40a7ec96e17cf1dc5 Fri, 17 Jul 2026 14:11:54 -0400 2026-07-17T14:14:40-04:00 The TIGTA findings include 1,375 unauthorized entries into restricted areas, unpatched system vulnerabilities, and failures to follow IRS security requirements. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/15/top-treasury-tax-officials-departure-deepens-leadership-crisis-at-irs/ Ken Kies’s expected departure would deepen the leadership gap at the IRS, leaving both Senate-confirmed posts—commissioner and chief counsel—without confirmed officials. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a5789caf74e36e8e0b72a89 Wed, 15 Jul 2026 09:40:53 -0400 2026-07-15T10:19:27-04:00 Ken Kies’s expected departure would deepen the leadership gap at the IRS, leaving both Senate-confirmed posts—commissioner and chief counsel—without confirmed officials. © 2025 Bloomberg Finance LP Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/13/irs-announces-increase-in-standard-mileage-rates-for-the-second-half-of-2026/ Higher fuel prices prompted the IRS to raise the business, medical, and qualified moving rates for mileage on or after July 1, 2026. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a559fffce2a76401bc1bdc4 Mon, 13 Jul 2026 23:21:14 -0400 2026-07-14T08:31:19-04:00 Higher fuel prices prompted the IRS to raise the business, medical, and qualified moving rates for mileage on or after July 1, 2026. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Small Business /small-business Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/tax-breaks/2026/07/11/tax-breaks-the-penalties-postage-and-paperwork-edition/ Plus: Red cards and tax deductions, busting a TikTok tax myth, gift tax returns and Trump accounts, deferred compensation, sales tax zappers, tax trivia and more. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a516fece178de046017a5d9 Sat, 11 Jul 2026 10:00:00 -0400 2026-07-11T10:11:12-04:00 Plus: Red cards and tax deductions, busting a TikTok tax myth, gift tax returns and Trump accounts, deferred compensation, sales tax zappers, tax trivia and more. getty Newsletters /newsletters-old Newsletters /newsletters-old Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick Newsletter newsletter Tax Breaks tax-breaks premium https://www.forbes.com/sites/kellyphillipserb/2026/07/09/scammers-arent-just-targeting-taxpayers-theyre-targeting-tax-pros/ The IRS Security Summit campaign warns tax pros about fake IRS messages, social media tax myths, new-client phishing schemes, and attempts to steal ID numbers. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a50484e46c0bcc8aad0f213 Thu, 09 Jul 2026 21:46:00 -0400 2026-07-09T21:46:18-04:00 The IRS Security Summit campaign warns tax pros about fake IRS messages, social media tax myths, new-client phishing schemes, and attempts to steal ID numbers. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/08/irs-announces-automatic-penalty-relief-for-eligible-taxpayers/ The new process will replace First Time Abate and allow the IRS to provide certain penalty relief during return processing without requiring taxpayers to ask for it. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a4eb55d4dfd95320dc53c10 Wed, 08 Jul 2026 16:59:22 -0400 2026-07-08T20:52:59-04:00 The new process will replace First Time Abate and allow the IRS to provide certain penalty relief during return processing without requiring taxpayers to ask for it. getty Taxes /taxes Money /money Taxes /taxes Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/07/irs-opens-online-portal-for-kwong-refund-claims-ahead-of-friday-deadline/ The IRS has added an online filing option for some taxpayers seeking refunds tied to the recent Kwong court decision, but the window to act is short. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a4db6fa86ca6b431159b6c0 Tue, 07 Jul 2026 23:03:42 -0400 2026-07-08T14:15:37-04:00 The IRS has added an online filing option for some taxpayers seeking refunds tied to the recent Kwong court decision, but the window to act is short. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/06/can-a-world-cup-red-card-cost-a-player-more-than-a-match/ US Men’s Team player Folarin Balogun avoided a suspension, but red cards can sometimes lead to fines or other consequences. Here’s where soccer meets the tax code. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a4bda08901b7a699992ae3c Mon, 06 Jul 2026 13:32:48 -0400 2026-07-08T15:46:56-04:00 US Men’s Team player Folarin Balogun avoided a suspension, but red cards can sometimes lead to fines or other consequences. Here’s where soccer meets the tax code. Getty Images Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy SportsMoney /sportsmoney Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/03/america-at-250-the-tax-fight-that-helped-launch-a-nation/ The Declaration of Independence is remembered as a statement of liberty, but it was also a complaint about power, representation, and taxes imposed without consent. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a47cc8dd0fca95c0fc96321 Fri, 03 Jul 2026 11:58:01 -0400 2026-07-03T11:58:19-04:00 The Declaration of Independence is remembered as a statement of liberty, but it was also a complaint about power, representation, and taxes imposed without consent. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/01/what-bobby-bonilla-day-can-teach-us-about-deferred-compensation/ Bonilla’s annual Mets payday is a reminder that details matter. Deferred payments do not make tax disappear, but they can change when income is taxed. Kelly Phillips Erb, Former Staff Kelly Phillips Erb, Former Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a454096d1ad585d17a64828 Wed, 01 Jul 2026 13:25:46 -0400 2026-07-01T13:25:55-04:00 Bonilla’s annual Mets payday is a reminder that details matter. Deferred payments do not make tax disappear, but they can change when income is taxed. Getty Images Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business SportsMoney /sportsmoney Wealth Management /wealth-management Policy /policy Editors' Pick editors-pick money taxes premium