In the Black: July 2025

A New Boss at the IRS

The IRS has been cycling through interim heads as they keep resigning in protest over being forced to hand over information to ICE and sharing information with DOGE. In mid-June, the Senate confirmed Billy Long (former GOP Congressman from Missouri) to the post. He’s a controversial choice for a few reasons:

• He has previously voted for a policy called ‘The Fair Tax’, which would abolish the IRS. Many wonder, yours truly included, what this means for his tenure.

• When Long left Congress, he promoted ERC credits in his work with lawsuit-ridden Commerce Terrace Consulting and Lifetime Advisers. The pandemic ERC Credit program ended because it was riddled with fraud. There are outstanding questions about whether the firm has engaged in large-scale tax fraud.

• With the same firm, he promoted the claiming of ‘Tribal Tax Credits’, which do not exist.

That’s just a taste of it. Buckle up, this next tax season is going to be a bumpy ride!

RIP Green Energy Tax Credits

There is a new tax code in the works for 2026 - right now, the Trump’s ‘Big Beautiful Bill’ is stuck in the Senate with the GOP twisting themselves into intellectual pretzels to justify adding a record $3 trillion to the national debt. One thing we can be fairly certain of is that Biden’s green energy tax credits are on the chopping block. That means: if you were thinking about solar panels for your home or buying an EV, 2025 is the year!! This will be the last year for these for the foreseeable future!

Good News!?

It’s SUMMER (sorry, that’s all I have).