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IRS Practice & Procedure

Business standard mileage rate increases for 2026

The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 72.5 cents per mile driven, up 2.5 cents from 2025.

IRS outlines details for Trump accounts

The IRS released initial details on Trump accounts, a new type of IRA for some children. Also, a billionaire business executive pledged $6.25 billion to provide 25 million children with a $250 contribution to a Trump account.

Notice 2025-27 provides interim guidance on corporate AMT

The notice provides an optional interim simplified method of determining whether a corporation is an applicable corporation for purposes of the corporate AMT and relief from the Sec. 6655 penalty for underpayment of estimated tax with respect to a corporation’s corporate AMT liability.

Late election relief in recent IRS letter rulings

The IRS may grant a reasonable extension if the taxpayer provides satisfactory evidence of acting reasonably and in good faith and the relief will not prejudice the government’s interests.

TAX PRACTICE MANAGEMENT

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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.

Tax Clinic

Supercharging retirement: Tax benefits and planning opportunities with cash balance plans

Key international tax issues for individuals and businesses

Revisiting Sec. 1202: Strategic planning after the 2025 OBBBA expansion

Prop. regs. would make permanent safe harbor for furnishing information on Sec. 751 property

Notice 2025-27 provides interim guidance on corporate AMT