IRS practice & procedure

The AICPA praised the Senate passage of the bill, saying it will enhance IRS operations and improve the taxpayer experience.

The agency said it is providing the relief because both lenders and the IRS need more time to comply with the new car loan interest reporting requirements added by H.R. 1.

Treasury Secretary Scott Bessent said Monday that Frank Bisignano, the commissioner of the Social Security Administration, will serve in the newly created role of CEO of the IRS.

Critical staff stayed on the job for this year’s tax season, but that won’t be the case in 2026, the Treasury Inspector General for Tax Administration said in a new report.

The final regulations make minor clarifying changes to proposed regulations issued last year.

The IRS would use money from the Inflation Reduction Act to keep the agency’s over 74,000 employees working for the first five days of a potential government shutdown.

The fee reduction comes as a result of a biennial review of PTIN fees.

The IRS will phase out the use of paper checks for refunds beginning Sept. 30 and will publish detailed guidance later.

In a letter to the IRS, the AICPA said the changes align with an executive order mandating that all federal tax payments and refunds be processed electronically.