Cryptocurrency tokens a taxpayer received as staking rewards were includable in gross income in the year of receipt despite a restriction on the tokens’ transfer to another cryptocurrency wallet.
Individual income taxation
IRS should automate name, address changes, AICPA says
A letter to the IRS says that processing times of six to eight weeks or longer for taxpayer name and address changes can create compliance risks and should be reduced through automation.
IRS provides guidance on rollovers between retirement plans and IRAs
Use of the sample forms and proposed rollover procedures in the guidance is optional for plan sponsors.
Taxpayer’s Social Security benefits are taxable despite his subsequently repaying them
The Tax Court held that the taxpayer could not offset the income by repayments of the benefits he made in a later tax year.
Tax Court upholds passport notice certification
The IRS issued a passport notice certification of a “seriously delinquent tax debt” of more than $1.6 million in trust fund recovery penalties.
Taxpayer’s CDP case dismissed without prejudice
The Tax Court advised a taxpayer that if he filed a second petition, he probably would not have a chance for another review of the IRS’s collection action.
IRS finalizes deduction rules for tips, adds 3 eligible jobs
The final IRS regulations expand the tips deduction to 71 occupations and clarify rules on qualified tips, digital payments, and automatic gratuities.
Ways to de-risk concentrated stock portfolios
Learn how investors can manage concentrated stock risk with minimal tax impact — and why CPAs should know the options.
Transfer of for-profit colleges to nonprofit entity held to be bargain sale
The Tax Court affirmed bargain sale treatment for a transfer of for-profit colleges to a nonprofit entity but adjusted the taxpayer’s claimed charitable deduction for the transfer.
Court allows taxpayer’s refund suit to proceed
A district court declined to adopt a magistrate’s report recommending dismissal of a taxpayer’s complaint on the grounds that her refund claim was untimely.
Taxpayer received deficiency notices mailed to her office address
The Tax Court affirmed an IRS Office of Appeals determination to sustain a proposed levy against a taxpayer who failed to file tax returns and did not respond to notices of deficiency that were mailed to her office.
New Schedule 1-A for tips, OT, car loans, and senior deductions published
The Schedule 1-A does not differ from the draft version issued last year, but instructions for Form 1040 provide details and examples on the four temporary deductions.
District court dismisses taxpayer’s refund claim
The court held that it lacked subject-matter jurisdiction over a taxpayer’s refund claim that did not meet the full-payment rule set forth in Flora, 357 U.S. 63 (1958).
Court determines taxpayer lacked profit motive
The Tax Court applied the hobby loss rules under Sec. 183 to disallow losses from a taxpayer’s ranch.
Average tax refund rises 11%; total filings decline
The average individual tax refund is up nearly 11% in the first 10 business days of the 2026 filing season, rising to $2,290 from $2,065 last year.
How to ease taxes on inherited IRAs
Inheriting retirement accounts isn’t as simple as it used to be. The 10-year drawdown rule can trigger hefty taxes for heirs. Learn how smart planning can help.
IRS releases FAQs on qualified overtime pay deduction under H.R. 1
An IRS fact sheet explains when overtime compensation qualifies for the H.R. 1 deduction and how Fair Labor Standards Act rules apply, including for federal employees.
IRS to start accepting and processing tax returns on Jan. 26
The IRS acknowledged that new tax provisions could affect federal taxes, credits, and deductions. The start of filing season is in line with previous years.
FBAR penalty case dismissed on constitutional grounds
A district court held that the government violated a taxpayer’s Seventh Amendment right to a civil jury trial in an FBAR case.
Filing season quick guide — tax year 2025
This annual tax quick guide highlights dollar thresholds, tax tables, standard amounts, credits, and deductions.
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