The Reed Report
A short rundown of the federal and Indiana tax news our team is watching this week — what changed, what it means, and what deadlines are coming up.
The IRS continued rolling out new capabilities in its online Business Tax Account portal, giving more entity types the ability to view digital notices, make payments, and manage account information without a phone call. If your business hasn’t set one up yet, it’s increasingly the fastest way to see exactly what the IRS has on file for you.
Source: IRS Newsroom
The Indiana Department of Revenue set the gasoline use tax rate for August 1–31 at 21.9 cents per gallon. Retailers use this rate, which is adjusted monthly based on statewide average prices, to compute the tax collected at the pump.
Source: Indiana Department of Revenue
A reminder for the self-employed, gig workers, and business owners who pay quarterly: the deadline for your third 2026 estimated tax payment, covering income earned June through August, is September 15. Underpaying can trigger a penalty even if you end up due a refund at filing time, so it’s worth checking your year-to-date numbers now while there’s still time to adjust.
Source: IRS Newsroom
Questions about how any of this affects your return or your business?
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