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CURRENT EVENTS
Form 1023 (Application for Nonprofit status)
Beginning Jan. 31, 2020, applications for recognition of exemption on Form 1023 must be submitted electronically online at www.pay.gov. (Rev. 12-2017)
The 2025 business mileage rate is 70 cents per mile.
The 2026 business mileage rate is 72.5 cents per mile.
There are seven tax rates in 2025: 10%, 12%, 22%, 24%, 32%, 35%, 37%
Capital gains tax rates remain the same (long term remaining 0%, 15%, 20%)
Gift Tax Exclusion up to $19,000 for 2026
INDIANA clients: An individual who is an Indiana resident and a member of a health care sharing ministry is entitled to an adjusted gross income tax deduction-IN.GOV
Child tax credit increased to $2,200 for 2025 for those 16 and younger.
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