IRS practice & procedure

The IRS said Monday it is opening the online, self-service accounts to partnerships, Indian tribal governments, tax-exempt organizations, and federal, state, and local governments.

TIGTA found the IRS spent $4.8 billion in Inflation Reduction Act funds, which were intended to supplement its annual appropriation, on labor and IT to keep the 2025 tax season on track.

The guidance in Rev. Proc. 2026-17 is provided in response to H.R. 1’s amendments to Secs. 163(j) and 168(k).

The relief allows taxpayers to use alternative methods to make adequate identification of digital asset units that are sold, disposed of, or transferred during the relief period.

If proposed regulations become final, the withdrawal would let taxpayers treat the January 2025 transaction-of-interest regulations as having never taken effect.

The IRS says a surge in fabricated Form 2439 filings prompted the only new addition to this year’s Dirty Dozen, underscoring how quickly tax schemes evolve.

The proposed regulations would shift digital-asset reporting toward electronic-only delivery by loosening consent requirements for brokers.

The IRS issued the 2026 depreciation limitations for passenger vehicles, including those for which bonus depreciation is applied.