The proposed regulations were withdrawn in response to comments that criticized the proposed guidance, according to the IRS.
IRS shutdown plan: Employees stay on the job for first 5 workdays
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.
IRS trims PTIN fee as renewal season nears
The fee reduction comes as a result of a biennial review of PTIN fees.
Paper tax refund checks on the way out as IRS shifts to electronic payments
The IRS will phase out the use of paper checks for refunds beginning Sept. 30 and will publish detailed guidance later.
IRS keeps per diem rates unchanged for business travel year starting Oct. 1
In its list of high-cost and low-cost localities, the IRS kept per diem rates for travel, meals, and incidental expenses unchanged for the new annual period starting Oct. 1.
Details on IRS prop. regs. on tip income deduction
The proposed regulations define “qualified tips” for purposes of the deduction and contain details on allowable forms of payment.
AICPA urges IRS to modernize estate and trust tax forms
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.
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.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
