S&D Finance

03/14/2026

One proposal, House Bill 3368, is now in the Senate and would temporarily align South Carolina’s tax code with federal law for 2025 returns. House Bill 4216 — is on its way to Gov. Henry McMaster’s desk and would restructure the state’s income tax rates.

South Carolinians who have already filed their state tax returns may want to take a closer look at two tax bills moving through the Statehouse that could affect

03/08/2026

A notable change to this year’s list is the addition of abusive undistributed long-term capital gains claims as item #6, replacing prior fuel tax credit concerns, as the IRS sees an increase in overstated or fabricated claims tied to Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains. The IRS advises all taxpayers to remain cautious year-round, as criminals will always be on the lookout for new ways to obtain money, personal identifiable information, and data.

IR-2026-30, March 5, 2026 — The Internal Revenue Service today announced its annual Dirty Dozen list of tax scams for 2026 that threaten the tax and financial information of taxpayers, businesses, and tax professionals.

03/05/2026

South Carolina: The Palmetto State's warning on its Department of Revenue website says tax processing is taking longer than usual because it's not conforming to Trump's new federal tax laws. Taxpayers need to be extra careful and adjust their state tax filings to add back income that may have been deducted at the federal level. Those may be tips, overtime, additional senior deduction and auto loan interest, among others, it said. If they are missed, taxpayers may have to file an amended return, which can delay a refund.

Tax refunds could be delayed for Americans in Idaho, New York, Oregon, South Carolina, and DC. Here's why.

03/05/2026

The IRS issued revenue procedures providing inflation-adjusted depreciation limitations for passenger automobiles, including trucks and vans, placed in service during calendar year 2026 under I.R.C. §280F.

The IRS issued revenue procedures providing inflation-adjusted depreciation limitations for passenger automobiles, including trucks and vans, placed in service during calendar year 2026 under I.R.C. §280F. The revenue procedure contains ...

03/02/2026

Employment tax embezzlement is a felony punishable by up to five years in prison, and the report urged the IRS Criminal Investigations Division pursue these crimes. For anyone with employees, paying employment taxes is inevitable.

The IRS can pursue you personally if the company fails to pay the taxes. The civil penalty is 100% of the taxes not collected, and criminal liability is possible too.

03/02/2026

The IRS has published a new Schedule 1-A for the 2025 tax year that allows taxpayers to claim several new tax benefits introduced by the GOP’s mega tax law from last summer. These include deductions for tips up to $25,000, overtime pay, car loan interest, and an enhanced deduction for seniors.

02/28/2026

Misleading posts about credits like the fuel tax credit are landing taxpayers in trouble — with fines up to $5,000 for frivolous returns.

02/26/2026

Changes you should keep in mind this tax season and all tax seasons into 2028.

FS-2025-03, July 14, 2025 — Provisions from the One, Big, Beautiful Bill Act, which was signed into law on July 4, 2025.

02/26/2026

The IRS rejected your tax return? Don’t panic — many issues are simple to fix.