The IRS extended the deadline for SECURE 2.0 related amendments to IRAs, SEPs, and SIMPLE IRAs to Dec. 31, 2027, saying that additional time is needed to complete model language.
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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 Advisory Council report defends workers, criticizes budget and staff cuts
In its annual report, IRSAC said the IRS has been through “an extraordinarily difficult year” with budget and staff cuts while preparing for numerous tax law changes. The report also noted tax practitioners’ prolonged wait times when contacting the IRS.
AICPA tax policy and advocacy successes: 2025 highlights
The AICPA’s Tax Division volunteer committees and technical resource panels can point to many positive results last year from its advocacy to Treasury, the IRS, and Congress for law changes and administrative guidance.
Prop. regs. amend Sec. 3406 backup withholding regulations
The IRS issued the proposed regulations to reflect changes made by H.R. 1 to the threshold for backup withholding for third-party settlement organizations such as PayPal, Venmo, and others.
IRS IT overhaul set to finish by 2028, former official says
After years of delays, the IRS expects to complete modernization of its fragmented IT systems by 2028, a former acting IRS commissioner said at an AICPA webcast.
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.
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.
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.
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.
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.
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.
‘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).
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.
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.
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
Filing season quick guide — tax year 2025
This annual tax quick guide highlights dollar thresholds, tax tables, standard amounts, credits, and deductions.
Get ready for tax season
Guide clients through the significant changes in H.R. 1.
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.
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.
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