Tax and financial planning news from around the web: June 23 – 27, 2025

Learn how an offer in compromise can help resolve your client’s tax debt 

An OIC allows a taxpayer to settle their tax debt for less than the full amount they owe. Review the newly updated Form 656-B OIC booklet and remind clients they may not qualify for an OIC if other collection alternatives are possible such as full payment or a payment plan. 

A look at key provisions in the proposed GOP tax bill 

The Senate draft highlights key differences from the House-passed bill, such as permanent extensions on many corporate tax provisions, modifications to international rules, and a limited expansion of the SALT deduction.