The IRS issued proposed regulations that would modify partnerships’ reporting obligations for Part IV of Form 8308 with respect to sales or exchanges of certain interests in partnerships owning inventory or unrealized receivables.
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Tax
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.”
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.
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.”
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
AICPA: Guidance needed on catch-up contributions under Roth mandate
In a letter to Treasury and the IRS, the AICPA requested guidance on language in proposed regulations issued in January.
It’s no joke: Being nice is among this attorney’s top ways to deal with the IRS
Being nice is one of tax controversy attorney Melissa Wiley’s ways of getting answers from the IRS, which also includes knowing the Internal Revenue Manual and using self-service tools.
Tax provisions in the One Big Beautiful Bill Act
The bill extends portions of the Tax Cuts and Jobs Act, provides deductions to eliminate income taxes on certain tips and overtime pay, and addresses other tax priorities of the Trump administration.
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