Pictured above: Left to right: Albert Sappington, Joe Babb, Britt Smith, Bradley Littlejohn New Albany, Mississippi February 17, 2026 Eaton, Babb & Smith, a certified public accounting firm serving North Mississippi since 1987, is pleased to announce a transition in firm ownership effective January 1, 2026. The firm was founded in 1987 by Richard Eaton,…
For many years, taxpayers have relied on the simple idea that if a tax document was mailed by the due date, it was considered filed on time. This “mailbox rule” has been part of the tax system for decades, and most people assumed that dropping an envelope in the mail by the deadline was enough.…
If you’re planning charitable gifts in 2025 or 2026, the new One Big Beautiful Bill Act (OBBBA) may change how much you can deduct—and when. The Journal of Accountancy’s latest article explains how the updated rules affect both itemizers and non-itemizers, with new limits and opportunities to maximize your tax benefits. It also highlights smart…
The Internal Revenue Service has released its annual inflation adjustments for over 60 tax provisions for tax year 2026 — which will apply when returns are filed in 2027. Key changes include increased standard deduction amounts (for tax year 2026: $32,200 for married filing jointly; $16,100 for singles; $24,150 for heads of household). Bracket thresholds…
There is a text scam that many of our clients have seen over the weekend. Please be aware! Click here to read more.
The Journal of Accountancy reports that the IRS has furloughed nearly half its staff and closed most operations as the government shutdown enters its second week. Learn which services remain open and how the disruption could affect taxpayers and practitioners. Read more from the Journal of Accountancy
The U.S. Treasury has released a preliminary list of jobs eligible for the new no-tax-on-tips provision, giving tipped employees a major financial boost. Under this initiative, qualifying workers in industries such as hospitality, personal services, and food service may exclude up to $25,000 in tips from taxable income between 2025 and 2028. This change, part…