Foster & Dolleck, CPA's

01/21/2026

Potential new child care tax credit for Nebraska residents. Basic requirements are have a child in daycare, child under five years of age, and total household income under $150,000.

Link to Nebraska Department of Revenue for information.

https://revenue.nebraska.gov/tax-credits/child-care-tax-credit-act/child-care-refundable-tax-credit

You will have to apply to get approved for the credit. The approval will have numbers that you need to enter on your Nebraska individual income tax return. There is a link to the website to do the application on the NE Department of Revenue site linked above. The application for approval opens on January 26th.

For Businesses Sales Tax Rate Finder File/Pay Your Return Sales and Use Taxes Rates and Information Income Tax Withholding Waste Reduction and Recycling Fee Litter Fee Prepaid Wireless Surcharge Cigarette Tax Business Income Tax Motor Fuels Tax Charitable Gaming Make a Payment Only Nebraska e-pay Pa...

01/15/2026

No tax on tips or overtime:

For Employers:
Tips are already broken out on the W2 but overtime is not. If you have employees whom worked overtime in 2025, you will need to supply them with the amount of overtime they worked. The tax forms are NOT updated for 2025.

For Employees:
The amount will be reported on a new tax form on your individual tax return, Form 1040 (Schedule 1-A).

11/27/2025

Happy Thanksgiving from the team at Foster & Dolleck CPA'S.

11/11/2025

Happy Veterans Day

11/04/2025

For those in Nebraska. But I am sure the same applies in almost every state. Be very cautious of callers claiming to be from the state department or revenue or the IRS.

The fake text asks for payment information to collect a tax refund.

10/09/2025

The government may be shutdown, but the IRS will still take your money and send you random notices. Half the workforce is furloughed. But the good news is that they kept enough staff on to implement the One Big Beautiful Bill and get through next tax season.

Under an updated contingency plan, released on Day 8 of the government shutdown, nearly 40,000 workers will stay on the job, including more than 24,000 in Taxpayer Services.

09/25/2025

Big changes are coming to the federal student loan program, and if you're a current borrower, a parent planning for college or someone considering graduate school, it's important to know what's ahead. The One Big Beautiful Bill (OBBB), which became law in July, represents one of the most significant shifts in student lending in recent memory.

Major changes are coming to federal student loan rules, so it's a good time for borrowers to understand how these shifts will impact their financial planning.

09/25/2025

Another reminder that the IRS will discontinue sending and accepting paper checks as of September 30, 2025.

IR-2025-94, Sept. 23, 2025 — The Internal Revenue Service, working with the U.S. Department of the Treasury, today announced that paper tax refund checks for individual taxpayers will be phased out beginning on Sept. 30, 2025, as required by Executive Order 14247, to the extent permitted by law.

09/16/2025

A reminder that as of September 30th, the Department of Treasury will no longer send out paper checks.

Please share this with all your older family and friends. There will be a transition period but people should start acting now to make sure payments such as their social security is not delayed.

The paper check, once a mainstay of federal payments, is nearing its end. Starting Sept. 30, the U.S. Department of the Treasury will stop issuing paper checks for most federal payments, requiring electronic deposits instead. Paper checks near the end For years, millions of Americans waited for the....

09/16/2025

Hopefully all you pass-through entities (SCorp and Partnerships) with your business returns on extension got your tax returns filed yesterday. If you didn't, you will want to get them done ASAP. There is a $235 per month (or partial month) per K-1, late filing penalty that now applies.

Individual tax returns on extension are due October 15th.

09/16/2025

Property tax relief on the way.

Gov. Jim Pillen signed an executive order to provide property tax relief to Nebraska residents.