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IRS hotline questions resolved faster in 2025; concern grows about agency’s future
An annual survey of AICPA members about IRS service showed the majority of respondents are concerned that political distractions will affect agency funding and administration in the future.
Revenue agents who conduct audits lead IRS job losses
The IRS lost 11% of its staff in the first three months of 2025, with revenue agents who conduct audits accounting for the largest percentage of those who left, the Treasury Inspector General for Tax Administration said in a report.
AICPA makes recommendation for updated Form 8971 instructions
In a letter to the IRS, the AICPA recommended that the agency provide further guidance in two areas of new instructions for Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent.
HSA inflation-adjusted maximum contribution amounts for 2026 announced
Rev. Proc. 2025-19 also includes the revised maximum amount that may be made newly available for excepted-benefit health reimbursement arrangements.
Basis-shifting transaction-of-interest regulations to be removed
The announcement by Treasury and the IRS is a reversal from January regulations. The notice provides immediate relief from penalties under Secs. 6707A(a), 6707(a), and 6708 for any failure by participants or material advisers to file disclosure statements required by the regulations.
AICPA publishes additional resources in push to preserve PTET SALT deduction
Retaining passthrough entity taxes, which allow a state and local tax deduction as a nonseparately stated item, remains an AICPA priority.
