--- title: Machen McChesney Blog | Tax News description: Tax News | --- [Family of Services](http://machenmcchesney.com/about-us/family-of-companies/)  |  [CPA & Business Advisory](http://machenmcchesney.com)  |  [Payroll, HR & Benefits](http://focuspaysolutions.com/)  |  [Wealth Management](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900 [![mm-cobrand-fd-blues](https://info.machen.cpa/hs-fs/hubfs/mm-cobrand-fd-blues.png?width=279&height=100&name=mm-cobrand-fd-blues.png)](http://machenmcchesney.com) Search this site on Google Search Google Search this site on Google Search Google - [Client Portal](https://machenmcchesney.sharefile.com/Authentication/Login) - [1040 Electronic Organizer](https://www.my1040data.com/account/login/HT7902990) - [LinkedIn](https://www.linkedin.com/company/675439?trk=tyah&trkInfo=idx%3A1-1-1%2CtarId%3A1424436970395%2Ctas%3Amachen+mcchesney) - [Facebook](https://www.facebook.com/machenmcchesney) - 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[Benefits](http://machenmcchesney.com/careers/benefits/) - [Our Stories](http://machenmcchesney.com/careers/our-stories/) - [Current Openings](http://machenmcchesney.com/careers/current-openings-send-resume/) - [Accounting Internship Opportunities](http://machenmcchesney.com/careers/students/) - Contact Us - [Auburn-Opelika Office](http://machenmcchesney.com/contact-us/contact-us-auburn-office/) - [Montgomery Office](http://machenmcchesney.com/contact-us/contact-us-montgomery-office/) # Returning Value Blog ## [Treasury to Stop Issuing Paper Checks: Get Ready for E-Payments.](https://info.machen.cpa/blog/treasury-to-stop-issuing-paper-checks-get-ready-for-e-payments) ![](https://info.machen.cpa/hubfs/Louis%20Hawkins%202025%20update%20.jpg) Posted by [Louis Hawkins, CPA](https://info.machen.cpa/blog/author/louis-hawkins-cpa) on Sep 25, 2025 [![](https://info.machen.cpa/hubfs/United%20States%20Treasury%20Check%20-1257775913-Social%201.jpg)](https://info.machen.cpa/blog/treasury-to-stop-issuing-paper-checks-get-ready-for-e-payments) On March 25, 2025, the White House issued Executive Order 14247, “[Modernizing Payments To and From America’s Bank Account."](https://www.whitehouse.gov/presidential-actions/2025/03/modernizing-payments-to-and-from-americas-bank-account/) This order establishes that, effective September 30, 2025, the U.S. Treasury will cease issuing paper checks for all federal disbursements—including tax refunds—where permitted by law. [Full Story](https://info.machen.cpa/blog/treasury-to-stop-issuing-paper-checks-get-ready-for-e-payments) Posted in [Tax News](https://info.machen.cpa/blog/topic/tax-news) ## [U.S. Department of the Treasury - Phase Out of Paper Checks](https://info.machen.cpa/blog/irs-instructed-to-phase-out-paper-refund-checks) ![](https://info.machen.cpa/hubfs/Louis%20Hawkins%202025%20update%20.jpg) Posted by [Louis Hawkins, CPA](https://info.machen.cpa/blog/author/louis-hawkins-cpa) on Jul 30, 2025 [![](https://info.machen.cpa/hubfs/Checks%20-1494566914-1.jpeg)](https://info.machen.cpa/blog/irs-instructed-to-phase-out-paper-refund-checks) In March, the U.S. Department of the Treasury was directed to begin phasing out the acceptance and disbursement of paper checks. This phase-out is set to occur by September 30, 2025, and the purpose is to enhance security, reduce fraud, and improve government efficiency. [Full Story](https://info.machen.cpa/blog/irs-instructed-to-phase-out-paper-refund-checks) Posted in [Tax News](https://info.machen.cpa/blog/topic/tax-news) ## [Carried Interest Taxation Changes Proposed in Inflation Reduction Act of 2022](https://info.machen.cpa/blog/carried-interest-taxation-changes-proposed-in-inflation-reduction-act-of-2022) ![](https://info.machen.cpa/hubfs/Mike%20Machen%202025%20Update.jpg) Posted by [Michael D. Machen, CPA, CVA](https://info.machen.cpa/blog/author/michael-d-machen-cpa-cva) on Aug 05, 2022 [![](https://info.machen.cpa/hubfs/Inflation%20-1390888404-1.jpeg)](https://info.machen.cpa/blog/carried-interest-taxation-changes-proposed-in-inflation-reduction-act-of-2022) Taxpayers should be aware that they may soon lose the advantage of long-term capital gain treatment in respect of carried interest should the Inflation Reduction Act of 2022 (2022 IRA) become law. The deal on a reconciliation package announced on July 27 by Senators Chuck Schumer (D-N.Y.) and Joe Manchin (D-W.Va.) would raise an estimated $739 billion in revenue, of which an estimated $14 billion would come from closing tax-advantaged provisions for carried interests. [Full Story](https://info.machen.cpa/blog/carried-interest-taxation-changes-proposed-in-inflation-reduction-act-of-2022) Posted in [Tax News](https://info.machen.cpa/blog/topic/tax-news) ## [White House Unveils 2023 Budget Proposal](https://info.machen.cpa/blog/white-house-unveils-2023-budget-proposal) ![](https://info.machen.cpa/hubfs/Mike%20Machen%202025%20Update.jpg) Posted by [Michael D. Machen, CPA, CVA](https://info.machen.cpa/blog/author/michael-d-machen-cpa-cva) on Apr 07, 2022 [![](https://info.machen.cpa/hubfs/Coin%20with%20American%20flag%20637083626-1.jpeg)](https://info.machen.cpa/blog/white-house-unveils-2023-budget-proposal) The Biden administration, on March 28, issued its [fiscal year 2023 budget](https://www.whitehouse.gov/wp-content/uploads/2022/03/budget_fy2023.pdf), which would reduce the national deficit by approximately $1 trillion over 10 years primarily by increasing the corporate tax rate to 28% and introducing a minimum tax on billionaires. [Full Story](https://info.machen.cpa/blog/white-house-unveils-2023-budget-proposal) Posted in [Tax News](https://info.machen.cpa/blog/topic/tax-news) ## [U.S. House Passes Bipartisan Infrastructure Bill](https://info.machen.cpa/blog/u.s.-house-passes-bipartisan-infrastructure-bill) ![](https://info.machen.cpa/hubfs/Marty%20Williams%202025%20update.jpg) Posted by [Marty Williams, CPA](https://info.machen.cpa/blog/author/marty-williams-cpa) on Nov 11, 2021 [![](https://info.machen.cpa/hubfs/House-120660438-1.jpeg)](https://info.machen.cpa/blog/u.s.-house-passes-bipartisan-infrastructure-bill) The U.S. House of Representatives, in the late hours of Friday, November 5, 2021, passed H.R. 3684, the “[Infrastructure Investment and Jobs Act](https://www.congress.gov/bill/117th-congress/house-bill/3684/text),” in a 228 to 206 bipartisan vote. The Senate had approved the same version of the bill, which is now ready for the president’s signature, on August 10, 2021. [Full Story](https://info.machen.cpa/blog/u.s.-house-passes-bipartisan-infrastructure-bill) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates), [Tax News](https://info.machen.cpa/blog/topic/tax-news) ## [Details of Proposed Corporate Minimum Tax and Billionaires Tax Released](https://info.machen.cpa/blog/details-of-proposed-corporate-minimum-tax-and-billionaires-tax-released) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Nov 05, 2021 [![](https://info.machen.cpa/hubfs/the%20word%20taxes-1286361563-1.jpeg)](https://info.machen.cpa/blog/details-of-proposed-corporate-minimum-tax-and-billionaires-tax-released) Senate Democrats have released details of two tax proposals – a minimum tax on large corporations and a tax on billionaires – that, if enacted, would be used to help pay for spending for social infrastructure under the Build Back Better Plan. [Full Story](https://info.machen.cpa/blog/details-of-proposed-corporate-minimum-tax-and-billionaires-tax-released) Posted in [Tax News](https://info.machen.cpa/blog/topic/tax-news) ## [House Releases Rewrite of Build Back Better Tax Proposals](https://info.machen.cpa/blog/house-releases-rewrite-of-build-back-better-tax-proposals) ![](https://info.machen.cpa/hubfs/Mike%20Machen%202025%20Update.jpg) Posted by [Michael D. Machen, CPA, CVA](https://info.machen.cpa/blog/author/michael-d-machen-cpa-cva) on Nov 02, 2021 [![](https://info.machen.cpa/hubfs/The%20word%20Tax-1264890107-1.jpeg)](https://info.machen.cpa/blog/house-releases-rewrite-of-build-back-better-tax-proposals) A version of [H.R. 5376](https://www.bdo.com/BDO/media/Misc-Documents/BILLS-117HR5376RH-RCP117-17.pdf) (the Build Back Better Act), released on October 28, 2021, by the House Budget Committee, eliminates many of the previously proposed tax increases that would have impacted individuals. [Full Story](https://info.machen.cpa/blog/house-releases-rewrite-of-build-back-better-tax-proposals) Posted in [Tax News](https://info.machen.cpa/blog/topic/tax-news) ## [Employers: The Social Security Wage Base Is Increasing in 2022](https://info.machen.cpa/blog/employers-the-social-security-wage-base-is-increasing-in-2022) ![](https://info.machen.cpa/hubfs/Mike%20Machen%202025%20Update.jpg) Posted by [Michael D. Machen, CPA, CVA](https://info.machen.cpa/blog/author/michael-d-machen-cpa-cva) on Oct 26, 2021 [![](https://info.machen.cpa/hubfs/social%20security%20-1216614286-1.jpeg)](https://info.machen.cpa/blog/employers-the-social-security-wage-base-is-increasing-in-2022) The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income above this threshold aren’t subject to Social Security tax. [Full Story](https://info.machen.cpa/blog/employers-the-social-security-wage-base-is-increasing-in-2022) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates), [Tax News](https://info.machen.cpa/blog/topic/tax-news), [Taxation](https://info.machen.cpa/blog/topic/taxation) ## [House Ways and Means Committee Releases Initial Tax Proposals](https://info.machen.cpa/blog/house-ways-and-means-committee-releases-initial-tax-proposals) ![](https://info.machen.cpa/hubfs/Mike%20Machen%202025%20Update.jpg) Posted by [Michael D. Machen, CPA, CVA](https://info.machen.cpa/blog/author/michael-d-machen-cpa-cva) on Sep 16, 2021 [![](https://info.machen.cpa/hubfs/legislation-1124733656.jpeg)](https://info.machen.cpa/blog/house-ways-and-means-committee-releases-initial-tax-proposals) On September 13, 2021, the House Ways and Means Committee released draft legislation that proposes a series of tax increases and tax cuts, which will undergo a round of markups by the committee over the next few days. Most tax proposals were anticipated; however, the House provided a few surprises.  [Full Story](https://info.machen.cpa/blog/house-ways-and-means-committee-releases-initial-tax-proposals) Posted in [Tax News](https://info.machen.cpa/blog/topic/tax-news) ## [2021 Federal Tax Legislation? A Review of the Current State of Play](https://info.machen.cpa/blog/2021-federal-tax-legislation-a-review-of-the-current-state-of-play) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Aug 25, 2021 [![](https://info.machen.cpa/hubfs/Legislation%20-1154995076-1.jpeg)](https://info.machen.cpa/blog/2021-federal-tax-legislation-a-review-of-the-current-state-of-play) As we’ve reported this year, the Biden Administration has made tax policy a legislative priority, and the Treasury Department’s Green Book, released on May 28, provides additional details on these tax policy proposals. Congressional Democrats have also indicated their interest in tax legislation. The question is: Will we see federal tax legislation in the near future? To answer this question, we need to look at the Administration’s and Congress’ infrastructure legislative plans. [Full Story](https://info.machen.cpa/blog/2021-federal-tax-legislation-a-review-of-the-current-state-of-play) Posted in [Business Tax](https://info.machen.cpa/blog/topic/business-tax), [Tax News](https://info.machen.cpa/blog/topic/tax-news) [Next](https://info.machen.cpa/blog/topic/tax-news/page/2) Search this site on Google Search Google ### Recent Posts ### Subscribe to Blog ### Posts by Category - [Business Tax (356)](https://info.machen.cpa/blog/topic/business-tax) - [Business Advisory (238)](https://info.machen.cpa/blog/topic/business-advisory) - [Payroll, HR & Benefits (124)](https://info.machen.cpa/blog/topic/payroll-hr-benefits) - [Audit & Assurance (113)](https://info.machen.cpa/blog/topic/audit-assurance) - [Accounting & Outsourcing (81)](https://info.machen.cpa/blog/topic/accounting-outsourcing) - [Individual Tax (75)](https://info.machen.cpa/blog/topic/individual-tax) - [Tax Planning (33)](https://info.machen.cpa/blog/topic/tax-planning) - [Tax Updates (25)](https://info.machen.cpa/blog/topic/tax-updates) - [Retirement & Wealth Management Planning (18)](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) - [Taxation (15)](https://info.machen.cpa/blog/topic/taxation) - [Alerts (13)](https://info.machen.cpa/blog/topic/alerts) - [Business Valuation (11)](https://info.machen.cpa/blog/topic/business-valuation) - [News & Events (11)](https://info.machen.cpa/blog/topic/news-events) - [Tax News (11)](https://info.machen.cpa/blog/topic/tax-news) - [Individual Tax Planning (10)](https://info.machen.cpa/blog/topic/individual-tax-planning) - [Not For Profit (10)](https://info.machen.cpa/blog/topic/not-for-profit) - [Retirement Planning (9)](https://info.machen.cpa/blog/topic/retirement-planning) - [Estate Planning (8)](https://info.machen.cpa/blog/topic/estate-planning) - [Manufacturing Industry Insights (7)](https://info.machen.cpa/blog/topic/manufacturing-industry-insights) - [Individuals (1)](https://info.machen.cpa/blog/topic/individuals) - [Insider (1)](https://info.machen.cpa/blog/topic/insider) - [Professional Standard News (1)](https://info.machen.cpa/blog/topic/professional-standard-news) see all [![Returning\_Value](https://info.machen.cpa/hs-fs/file-2504250850-jpg/Machen-Blog-Image/Returning_Value.jpg)](http://machenmcchesney.com/about-us/mission-and-values/) - [![AICPA](https://machenmcchesney.com/img/logos/aicpa.jpg)](https://www.aicpa-cima.com/) - [![NACVA](https://machenmcchesney.com/img/logos/nacva.jpg)](http://www.nacva.com/) - ![2026 INSIDE Public Accounting Top 400](https://machenmcchesney.com/img/2026-ipa-top-400.jpg) - ![2026 Best of Auburn-Opelika](https://machenmcchesney.com/img/2026-best-of-auburn-opelika.jpg) - [![2025 Best of OA](https://machenmcchesney.com/img/2025-best-of-oa.jpg)](https://oanow.com/exclusive/readerschoice/ballot-2025/) - ![2026 Best of OA Winner](https://machenmcchesney.com/img/2026-best-of-oa-winner.jpg) - [![2025 Accounting Today Regional Leaders](https://machenmcchesney.com/img/2025-accounting-today-regional-leaders.jpg)](https://www.accountingtoday.com/) - [![ClearlyRated Best of Accounting](https://machenmcchesney.com/img/2024-best-of-accounting.jpg)](https://www.clearlyrated.com/accounting) - [![ClearlyRated Best of Accounting Employee](https://machenmcchesney.com/img/2024-best-of-accounting-employee.jpg)](https://www.clearlyrated.com/accounting) 1820 East University Drive, Auburn, AL 36830 | Tel: (334) 887-7022 | Fax: (334) 887-7221 1761 Taliaferro Trail, Montgomery, AL 36117 | Tel: (334) 244-8900 | Fax: (334) 364-0927 † This is not a CPA firm. \* Assurance, attest, and audit services provided by Frazier & Deeter, LLC. “Frazier & Deeter” is the brand name under which Frazier & Deeter, LLC\* and Frazier & Deeter Advisory, LLC† and its subsidiary entities provide professional services. 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