IRS practice & procedure

A bill supported by the AICPA is “a major win for taxpayers and tax practitioners,” according to a statement by President and CEO Mark Koziel. The bill, which now heads to President Donald Trump for his signature, is intended to speed up the granting of tax deadline extensions after a disaster.

An executive order issued in March requires the Treasury secretary to cease issuing paper checks for all federal disbursements and requires all payments made by the federal government to be electronically processed.

The IRS said Tuesday that it expects to issue a revised notice of proposed rulemaking after it studies the issues addressed in the 2019 proposed regulations.

After a successful 2025 tax filing season, the loss of over 25% of staff and a 37% drop in funding leave the status of the 2026 season in doubt, the national taxpayer advocate’s midyear report said.

The relief applies to brokers who must report certain digital asset sales and exchanges on Form 1099-DA and is in response to public comment that brokers need more time to comply.

The former Missouri congressman is the sixth head of the IRS since January. He was confirmed by a vote of 53-44.

On Monday, the IRS provided a list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13 apply. The list includes 17 changes described as significant.

Treasury released the Congressional Budget Justification, which also would cut the IRS budget by 37% from the fiscal year 2025 operating plan to the fiscal year 2026 request.