IRS finalizes regulations for Roth catch-up contributions under SECURE 2.0
The final regulations are similar to the proposed regulations issued in January, with some changes that the IRS said were made in response to comments.
IRS releases draft form for tip, overtime, car loan, and senior deductions
The IRS on Friday released a draft of Schedule 1-A (Form 1040), a single form that consolidates the calculations of the four temporary deductions for tips, overtime, car loan interest, and seniors that are allowed under H.R. 1.
IRS warns taxpayers: Social media advice can lead to costly penalties
Misleading posts about credits like the fuel tax credit are landing taxpayers in trouble — with fines up to $5,000 for frivolous returns.
Global tax deal could hurt US companies, says letter requesting OECD guidance
A letter from the Association of International Certified Professional Accountants addresses guidance and recommendations on the Pillar Two framework co-existing with U.S. tax rules for U.S. multinational enterprises in a side-by-side system to the OECD.
Treasury posts preliminary list of jobs eligible for no tax on tips
The list has a variety of occupations that customarily receive tips, including bartenders, dancers, and digital creators.
Guidance on research or experimental expenditures under H.R. 1 issued
The revenue procedure advises taxpayers how to make various elections, file amended returns, and change accounting methods as provided under Section 70302 of the new law.
Draft 2026 Form W-2 includes boxes and codes for tips and overtime
The IRS said previously that it will not release a new form for 2025, even though the temporary H.R. 1 provisions are effective this year, but it will provide transition relief.
IRS seeks to fill ‘critical vacancies’ as workforce declines 25%
The IRS has asked some employees who accepted deferred resignation offers if they want to stay on the job.
Will budget, staff cuts impede IRS modernization? Former commissioner weighs in
Former IRS Commissioner Danny Werfel says the cuts, combined with the need to reengineer systems for the OBBBA, will make it difficult for the IRS to succeed at improving technology.
IRS should be more transparent when communicating phone service metrics, report says
The report by the Treasury Inspector General for Tax Administration called on the IRS to include more phone lines and to cover the entire fiscal year when reporting on its level of service and wait times.
Prop. regs. would modify reporting obligations for Form 8308, Part IV
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.
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.
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.