Tax news and information - Journal of Accountancy

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August 12, 2025

IRS clarifies that Appeals case memos should be shared with taxpayers upon request

National Taxpayer Advocate Erin Collins wrote Tuesday in her blog that the IRS reminder of the language in the Internal Revenue Manual is a “meaningful step toward transparency.”

August 11, 2025

Billy Long out as IRS commissioner after less than two months

Long said Friday on X that he’s leaving the IRS and instead will be nominated to be ambassador to Iceland.

August 8, 2025

No 2025 information return or withholding table changes under OBBBA

The IRS announced Thursday that it is delaying changes to certain information returns, withholding tables, and reporting and withholding procedures until tax year 2026 “to avoid disruptions.”

August 5, 2025

AICPA presses IRS for guidance on domestic research costs in OBBBA

In its letter, the AICPA said small businesses that have not filed returns for the 2024 filing period face uncertainty about how to treat domestic research and experimental expenditures.

August 5, 2025

Date to start filing season not set despite IRS commissioner’s comment

Commissioner Billy Long said last week that the next filing season would start around Presidents Day, but the IRS said Tuesday that it has not set a date.

August 4, 2025

IRS includes several AICPA recommendations in corporate AMT interim guidance

In a notice issued Tuesday, the IRS said it intends to partially withdraw proposed regulations and issue revised proposed regulations.

August 1, 2025

Eleventh Circuit finds some FBAR penalties are excessive

The appeals court held that some of a taxpayer’s FBAR penalties were disproportional to the offense and thus an excessive fine under the Eighth Amendment.

August 1, 2025

LLC lacks reasonable cause for information-reporting failures

An auto dealership failed to prove that its software operated incorrectly or that it had adequate controls to identify noncompliance, the Tax Court held.

August 1, 2025

Tax Court denies constitutional challenge to IRS Appeals officers’ and supervisors’ appointments

The Tax Court follows its prior holding on the application of the Appointments Clause to the staff of the IRS Independent Office of Appeals, finding that the prior holding was not altered by amendments under the Taxpayer First Act and intervening judicial decisions.

August 1, 2025

Line items

IRS hotline questions resolved faster in 2025; concern grows about agency’s future … Revenue agents who conduct audits lead IRS job losses … AICPA makes recommendation for updated Form 8971 instructions … HSA inflation-adjusted maximum contribution amounts for 2026 announced … Basis-shifting transaction-of-interest regulations to be removed … AICPA publishes additional resources in push to preserve PTET SALT deduction

July 29, 2025

AICPA supports bill that lets married domestic violence victims file taxes as single

The bill would empower survivors of domestic abuse or spousal abandonment to file taxes without contacting their abuser.

July 29, 2025

New commissioner confident IRS can implement OBBBA’s tax provisions

Commissioner Billy Long explained his management philosophy at the 2025 Tax Summit of the National Association of Enrolled Agents, where he said IRS employees will be able to implement the OBBBA’s tax provisions.

July 28, 2025

IRS staff cuts could put burden on practitioners to explain OBBBA

A retired IRS communications executive told the AICPA’s Town Hall that employees will be challenged to explain tax changes in the massive law.

July 25, 2025

IRS advises of Tuesday deadline to maintain Business Tax Account access

The IRS warned that those who do not revalidate accounts by Tuesday will need to request access to the account again, either as a designated official or other user type.

July 24, 2025

Dealing with natural disasters: IRS relief efforts leave some wanting

How can the IRS best assist victims of natural disasters? The AICPA asked victims how long they had to wait for assistance and asked CPAs the best courses of action.

July 14, 2025

Congress passes act allowing tax relief when a state declares disaster

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.

July 10, 2025