The IRS extended for one year its waiver of the eligibility rule that generally prevents taxpayers from using the automatic accounting method change procedures to change the treatment of the same item more than once within a five-year period.
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Law Allows Combat-Injured Veterans to Recover Improperly Withheld Taxes
Veterans with combat-related injuries will get relief from improperly withheld taxes under legislation signed into law by President Barack Obama.
FinCEN Grants Permanent Automatic Extensions for FBARs
Starting this year, FBARs have a new, April 15 due date, with extensions to Oct. 15.
Despite PATH Act, Some Tax Provisions Expire at End of 2016
The expiring provisions include tax incentives for individuals and businesses, as well as several energy provisions.
Final Rules on Sec. 367 Transfers of Intangibles Apply Retroactively
The IRS issued regulations finalizing proposed rules issued in 2015 that govern certain transfers of goodwill and going concern value to foreign corporations in nonrecognition transactions under Sec. 367.
Congress Enacts Law Allowing HRAs Under the Affordable Care Act
The Senate passed the 21st Century Cures Act, which, among other things, permits certain employers to offer health reimbursement arrangements to employees without running afoul of the Patient Protection and Affordable Care Act’s market reform provisions.
Standard Mileage Rates for 2017 Are Announced
The IRS issued the 2017 standard mileage rates for determining the deductible costs for operating a vehicle for business, medical, charitable or moving purposes.
Rules Govern Covered Asset Acquisitions Under Sec. 901(m)
The IRS issued temporary regulations that are designed to prevent taxpayers from misapplying the Sec. 901(m) statutory disposition rule in certain cases when a foreign asset is disposed of.
Regulations Implement New Due-Diligence Requirements for Tax Return Preparers
Recent legislation added these requirements, which previously applied only to the earned income tax credit.
New Online Tool Allows Taxpayers to Check IRS Account Information
The IRS has launched an online tool that allows individual taxpayers to get their account balances online, including tax due, penalties, and interest.
IRS Announces Start of e-Services Re-registration
As part of its latest efforts to prevent cybercrime, the IRS said it will begin sending letters to currently registered e-Services users asking them to re-register within 30 days of the date of the letter or risk being shut out of the system.
New Rules Issued for IDRs From TE/GE Examiners
The rules, which go into effect April 1, 2017, apply to IRS examiners from the Tax Exempt/Government Entities division and specify best practices in issuing information document requests in the course of an audit.
IRS Extends Due Dates for PPACA Forms and Penalty Relief
In response to concerns from employers, insurers, and other providers of minimum essential coverage, the Internal Revenue Service announced that it is extending the due dates for certain health care forms required under the Patient Protection and Affordable Care Act.
No Delays Anticipated in 2017 Tax Filing Season, IRS Commissioner Says
IRS Commissioner John Koskinen reassured tax practitioners attending the AICPA’s National Tax Conference that the 2017 tax filing season should start on time.
Final Rules Remove 3-Year Nonpayment Testing Period for COD Reporting
The IRS finalized a proposed rule eliminating the three-year testing period for determining when debt was discharged for cancellation of debt information reporting purposes.
IRS Warns Tax Professionals of Another Email Phishing Scam
The IRS issued an “urgent alert” to tax practitioners who use IRS e-services to beware of a fraudulent email asking them to update their accounts and directing them to a fake website.
Identity Theft Safeguards to Expand for 2017
The IRS, state tax agencies, and industry partners announced expanded and improved tax return identity theft safeguards for the 2017 filing season.
IRS Finalizes Rules on Controlled Foreign Corporations
The IRS issued regulations aimed at preventing controlled foreign corporations from using partnerships to avoid Sec. 956, which requires income inclusion for certain investments in U.S. property.
2017 Pension Contribution Limits Announced
While many limits remained the same as 2016, some were raised to reflect cost-of-living increases.
Treasury Inspector General Says IRS Is Missing Billions in Backup Withholding
A report from the TIGTA found that potentially billions of dollars of revenue is being lost due to the Internal Revenue Service’s lax enforcement of the backup withholding rules.
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.
