Tax and financial planning news from around the web: May 12 – 16, 2025

IRS and federal government will stop accepting paper checks as payments

In addition to halting issuing of paper checks, the government will no longer accept paper checks as payment.

House Republicans unveil sweeping tax plan but have yet to resolve key fight over SALT

The current version of the proposal calls for the state and local tax deduction cap to be hiked to $30,000, which a group of blue-state Republicans have said is a nonstarter.