Tax news and information - Journal of Accountancy

TOPICS

January 8, 2026

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.

January 7, 2026

Electronic filing for business tax returns starts next week

The IRS said it will begin accepting business tax returns electronically next week. No date has been announced yet for individual tax returns.

January 6, 2026

AICPA calls on IRS to automate Sec. 1033 extension requests

The recommendation aims to cut delays that leave taxpayers uncertain about disaster related replacement deadlines for property.

January 5, 2026

Proposed regulations provide guidance on car loan interest deduction

In proposed regulations for the car loan interest deduction, the IRS addresses issues for taxpayers and lenders, including eligibility criteria for the deduction and information-reporting requirements.

January 2, 2026

Business standard mileage rate increases for 2026

The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 72.5 cents per mile driven, up 2.5 cents from 2025.

January 1, 2026

Tax-efficient drawdown strategies in retirement

Follow these tips to help clients draw down their retirement funds in a tax-efficient manner and avoid common mistakes.

January 1, 2026

‘Intent to evade tax’ for purposes of Sec. 6501(c) not limited to taxpayer’s intent

The Third Circuit affirmed the Tax Court’s broad interpretation of “intent” under Sec. 6501(c)(1).

January 1, 2026

Second Circuit denies SALT cap workaround

Final regulations prohibiting a federal charitable deduction for contributions to a state or local fund for which the donor receives a state or local tax credit are upheld under a Loper Bright analysis.

January 1, 2026

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.

January 1, 2026

Line items

Annual inflation adjustments announced for tax year 2026 … Social Security Administration head to also serve in new IRS role … Job cuts mean strong 2025 tax season may be hard to repeat, IRS watchdog warns … IRS removes associated property rule in final interest capitalization regulations … IRS withdraws prop. regs. affecting corporate spinoff transactions

January 1, 2026

Filing season quick guide — tax year 2025

This annual tax quick guide highlights dollar thresholds, tax tables, standard amounts, credits, and deductions.

January 1, 2026

Get ready for tax season

Guide clients through the significant changes in H.R. 1.

December 23, 2025

IRS updates FAQs on business interest limitation, premium tax credit

The updates reflect changes made in H.R. 1, P.L. 119–21, commonly known as the One Big Beautiful Bill Act.

December 17, 2025

Corporate Transparency Act, source of BOI reporting mandate, held constitutional

Despite the Eleventh Circuit holding that the Corporate Transparency Act is constitutional, an interim rule from Treasury means that domestic companies are not subject to beneficial ownership information reporting requirements.

December 17, 2025

Even an expert says: Digital asset reporting creates headaches

At the AICPA National Tax Conference, digital assets expert Nik Fahrer, CPA, sympathized with tax pros who dread the upcoming tax season because of digital asset reporting requirements.

December 11, 2025

Why 2026 is another ‘big tax year’

Get an inside look at the AICPA’s tax advocacy focus, including improving taxpayer service and shaping IRS processes for a smoother filing season. Listen to the podcast episode or read the Q&A with the AICPA’s vice president–Tax Policy & Advocacy.

December 9, 2025

IRS clarifies health savings account changes in H.R. 1 in new notice

Among other changes, the guidance explains that bronze and catastrophic plans are considered HSA-compatible under Sec. 223.

December 8, 2025

PTEs need more notice of changes, more time to respond, AICPA says

In a letter to Treasury and the IRS, the AICPA seeks changes to tax reporting requirements for partnerships and S corporations.

December 5, 2025

IRS announces prop. regs. on international tax law provisions in OBBBA

The proposed regulations will deal with changes included in H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act.

December 4, 2025

Where CPAs stand on economic sentiment, what’s next for the JofA podcast

This episode summarizes results of a recent quarterly survey on economic and business sentiment, mentions IRS news, and previews future content. Listen to the episode or read the transcript.

FROM THIS MONTH'S ISSUE

How a CPA beat burnout after strokes, depression

Randy Crabtree, CPA, suffered two strokes in four days and struggled with his mental health for years before he learned to recognize, address, and prevent chronic stress. Learn from his insights on how CPAs can avoid professional burnout.