10/26/2026
📢 Small-Business Tax Update
The IRS recently announced a few changes that may affect certain business owners:
✅ Retirement-plan mistakes
This may affect businesses that offer employee retirement plans or owners who use a SEP or SIMPLE IRA. If a mistake was made, there may now be a way to correct it without losing the plan’s tax benefits.
✅ Dyed diesel fuel
This may affect farmers, trucking companies, construction businesses and fuel-related businesses that use dyed diesel. Some IRS paperwork requirements may be temporarily reduced through December 31, 2026.
✅ Sale of farmland
This may affect farmers, landowners and agricultural businesses selling qualifying farmland to a qualified farmer. Eligible sellers may be able to pay the taxes from the sale over four years instead of all at once.
These changes will not affect every business. If you believe one of these updates may apply to you, reach out to us so that we can help you understand your options.
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📞 205.502.7047