In a taxpayer-friendly development, the IRS issued guidance permitting certain estates to make a late portability election if they did not make a timely election.
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Federal court strikes down PTIN fees, upholds PTINs
The D.C. District Court held that the IRS has the authority to require preparers to use preparer tax identification numbers (PTINs) but that it cannot charge fees for issuing PTINs.
IRS to accept only electronic payments for ruling requests
The IRS announced that it will no longer accept checks in payment for ruling requests beginning June 15.
President’s budget includes tax proposals and regulation of return preparers
President Donald Trump’s proposed FY 2018 budget includes a new proposal to give the IRS authority to regulate paid tax return preparers.
Leveraged spinoffs removed from IRS no-ruling list
The IRS says it will again issue rulings on corporate leveraged spinoff transactions.
2018 health savings account limits increase slightly
The IRS released the 2018 annual inflation-adjusted amounts that apply to health savings accounts.
New IRS rules, no increased funding in appropriations bill
The 2017 appropriations bill passed by Congress includes $11.2 billion for IRS operations and enforcement. But it also includes specific directives prohibiting certain IRS conduct.
Details of FAFSA data breach revealed in House testimony
The details of a recent data breach affecting 100,000 taxpayers were revealed in testimony before the House of Representatives Oversight and Government Reform Committee in Washington.
Trump’s tax reform priorities unveiled
Key features include a large reduction in the corporate tax rate, fewer and lower tax brackets for individuals, and a repeal of the estate tax and the alternative minimum tax.
Treasury ordered to review 2016 tax regulations
President Donald Trump signed an executive order directing the Treasury Department to review “significant” regulations that were issued in 2016 and 2017 to determine if the regulations cost too much, are too complex, or exceed the IRS’s statutory authority.
Guidance issued on PATH Act depreciation, Sec. 179 changes
The IRS issued guidance on how taxpayers can take advantage of various provisions enacted by last year’s PATH Act.
Automatic accounting method change procedures updated
The IRS provided updated rules for the various accounting method changes that qualify for automatic consent from the IRS.
Micro-captive insurance disclosure statement deadline approaching
Taxpayers who have engaged in “micro-captive transactions,” which the Internal Revenue Service has designated as transactions of interest, have until May 1 to file the required disclosure statement.
IRS enforcement activities dropped in 2016
The IRS reported several large drops in its enforcement activities in fiscal year 2016, including a 16% drop in audits, a 40% drop in levies, and a 9% drop in liens compared to the prior year.
How small businesses can apply the research credit to payroll taxes
Eligible small businesses can apply a portion of their research and development credit against their payroll tax liability, starting with 2016 tax years, under a new provision enacted in 2015.
Rules proposed for accounting method changes to reflect FASB revenue recognition standards
The IRS is asking for comments on proposed procedures for requesting consent to make accounting method changes to reflect FASB’s new revenue recognition standards.
IRS issues 2017 car and truck depreciation limits
The IRS released the inflation adjustments to the depreciation limits for cars and trucks used for business purposes in 2017.
Amazon wins multimillion dollar transfer-pricing dispute with IRS
The Tax Court held that Amazon.com had properly valued transfers of intangibles under a cost-sharing arrangement with its Luxembourg subsidiary.
Disbarred tax preparer not subject to IRS jurisdiction
The IRS Office of Professional Responsibility has no authority or jurisdiction over a disbarred attorney/tax preparer or his tax preparation practice and cannot regulate his provision of tax advice a federal district court in Nevada has held.
SB/SE Fast Track Settlement program made permanent
The IRS has formally established the Small Business/Self Employed Fast Track Settlement program (SB/SE FTS), formerly a pilot program, and modified the rules for the program.
INDIVIDUALS
Current Developments in Taxation of Individuals: Part 1
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.
