The IRS, the Employee Benefits Security Administration, and the U.S. Department of Health and Human Services jointly issued final regulations governing many aspects of the Patient Protection and Affordable Care Act.
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Proposed Regulations Provide More Detailed Rules Governing Innocent Spouse Relief
Among the changes are expanded rules on when the requesting spouse can be relieved of liability for penalties and interest.
Tax ID Theft Victims May Obtain Copies of Fraudulent Returns
In a change of policy, the IRS announced procedures for victims of tax ID theft or their authorized representative to request copies of bogus returns filed by identity thieves.
MyRAs Now Available Nationwide
Treasury said eligible individuals nationwide may now open a new retirement account for people with earned income who may lack access to an employer-sponsored retirement plan.
Demanding Tax Season Likely Ahead, IRS Commissioner Tells AICPA
IRS Commissioner John Koskinen told the AICPA that continuing cuts to the agency’s budget mean less enforcement revenue and continued challenges in properly serving taxpayers’ and practitioners’ needs during the crush of tax season.
Lower Tax Rates, Territorial Regime Are Still Priorities, Former Ways & Means Chair Tells AICPA
Former Rep. Dave Camp highlighted for the AICPA the key issues that should remain a major focus of broader tax reform efforts.
Congress Makes Changes to Partnership Audit and Adjustment Rules
The new rules would apply to partnership returns filed for tax years beginning after Dec. 31, 2017.
Should Some Frequent Flier Miles Be Exempt From Excise Tax?
The IRS on Thursday asked for feedback on whether frequent flier miles that are redeemed for anything other than taxable air transportation should be exempt from the Sec. 4261 excise tax.
PTIN User Fee Will Be Lowered
The IRS issued regulations lowering the fee for PTINs, effective for the coming filing season, from $50 to $33, effective Nov. 1, 2015.
Tax Regulations to Be Amended to Reflect Obergefell and Windsor Decisions
The IRS announced that it will amend the definitions of “spouse,” “husband and wife,” and “marriage” in regulations to reflect the Supreme Court’s holdings in Obergefell and Windsor.
2016 Pension Contribution Limits Issued
Because of low inflation this year, many limits remain unchanged, but some are increasing.
IRS Issues 2016 Inflation Adjustments and Tax Tables
The IRS issued the annual inflation adjustments for 2016 for more than 50 tax provisions as well as the 2016 tax rate tables for individuals and estates and trusts.
IRS Announces Progress in Collaborative Fight Against Tax Return Identity Theft
Six months after announcing it was partnering with state tax authorities, tax preparation companies, and other interested parties, the IRS said it is making progress in the collaborative effort to fight identity theft.
2016 Social Security Wage Base Is Released
The good news for workers is that there will also be no increase in the amount of wages subject to Social Security taxes (old age, survivor, and disability insurance).
Updated Rules Would Govern Tax Court and Appeals Office Procedures
The new procedures are designed to facilitate consideration by the IRS Appeals office, while maintaining the independence of the appeals process as required under the law.
IRS Gives South Carolina Flood Victims Tax Relief
The IRS announced that taxpayers who live or have a business in the South Carolina counties that have been declared disaster areas will have extra time to file their returns and pay any taxes owed.
OECD Proposes Widespread Changes to International Tax Rules
The Organisation for Economic Co-operation and Development (OECD) issued proposals to address corporate international tax avoidance and harmonize global tax rules.
U.S. Enters First Agreements Implementing Automatic Information Exchange
The IRS announced that the United States has entered into agreements with Australia and the United Kingdom implementing procedures to automatically exchange financial account information pursuant to the Foreign Account Tax Compliance Act (FATCA).
Private Foundations Can Rely on More Practitioners When Making Good-Faith Determinations
The IRS has expanded the list of tax professionals who can be relied on when making a good-faith determination of a foreign grantee’s eligibility.
Final Rules Govern F Reorganizations
The final rules apply a concept called a potential F reorganization, allowing the many steps of a corporate reorganization to be examined together to see if the transaction qualifies to be an F reorganization.
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.
