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The Smith Advisory Journal delivers timely insights on taxes, business, finance, and the economy to help business owners make smarter financial decisions.

Could the IRS’s New Automatic Penalty Relief Save Your Business Money, and What Could Still Go Wrong?

The IRS can now prevent certain filing, payment, and payroll-deposit penalties from being assessed when a taxpayer has a strong compliance history. Here is how the new relief can help, why it is not a free pass, and how better monitoring can protect the relief you may need later.

Shaun Smith

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Sep 11, 2026

Assessment Limits and Levy Limits, Oh My?

Both approaches can slow property-tax growth. We’ll break down who benefits, where the hidden problems appear, and what Texas property owners should check before assuming a “cap” will cap their tax bill.

Shaun Smith

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Sep 9, 2026

Could Filing Form 2290 Help You Get Your Schedule 1 Faster and Get You Back on the Road?

Electronic filing can deliver a watermarked Schedule 1 within minutes, helping truck owners document compliance without waiting weeks for mailed processing.

Shaun Smith

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Sep 4, 2026

Could Paying for College or Job Training Reduce Your Federal Tax Bill?

Education tax credits and work-related deductions could lower the real cost of college, continuing education, or professional training. Only if you identify which benefit applies, and keep records.

Shaun Smith

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Sep 2, 2026