The IRS said Monday it is opening the online, self-service accounts to partnerships, Indian tribal governments, tax-exempt organizations, and federal, state, and local governments.
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IRS Practice & Procedure
IRS tapped Inflation Reduction Act funds to cover 2025 filing season, watchdog says
TIGTA found the IRS spent $4.8 billion in Inflation Reduction Act funds, which were intended to supplement its annual appropriation, on labor and IT to keep the 2025 tax season on track.
IRS’s rejection of marijuana dispensary’s offer in compromise upheld
A marijuana dispensary’s expenses not deductible under Sec. 280E are not taken into account in calculating its reasonable collection potential.
Right to jury trial does not apply to accuracy-related penalties
Seventh Amendment right to jury trial does not apply to Sec. 6663 accuracy-related penalties.
A lower substantial-improvement threshold for rural opportunity zones
In the new zones, business property can become qualified if improvements increase its basis by 50%, rather than the otherwise applicable 100%.
Dissolving business taxpayers: Selected procedural implications
Critical issues include marking returns as final, determining due dates for final returns, filing Form 966, closing IRS accounts, and handling audits of dissolved entities.
IRS watchdog cites resource limits, duplication in partnership audits
The Treasury Inspector General for Tax Administration assessed a soft-letter initiative and the IRS’s examinations of 82 major U.S. partnerships.
AICPA seeks clarity on revamped paid family leave credit rules
The request came in an AICPA letter to Treasury and the IRS seeking guidance on how employers should implement changes to the paid family leave credit.
IRS provides guidance on business interest limitation elections
The guidance in Rev. Proc. 2026-17 is provided in response to H.R. 1’s amendments to Secs. 163(j) and 168(k).
Adequate identification relief extended through 2026
The relief allows taxpayers to use alternative methods to make adequate identification of digital asset units that are sold, disposed of, or transferred during the relief period.
AICPA pushes IRS to ease and expand first‑time abatement rules
The recommendations include allowing taxpayers to rely on substitute reasonable cause when appropriate, permitting them to reserve the automatic first-time abatement for future use.
IRS proposes regulations for Trump accounts, pilot program
Proposed regulations under Sec. 530A provide information on how to open initial Trump accounts, and proposed regulations under Sec. 6434 provide guidance on the program that provides $1,000 contributions to Trump accounts for eligible children.
IRS seeks to scrap basis‑shifting TOI reporting regulations
If proposed regulations become final, the withdrawal would let taxpayers treat the January 2025 transaction-of-interest regulations as having never taken effect.
Navigating the Form 1099-DA reporting maze
Make sense of the new rules for digital asset reporting, including transition relief for 2025 and safe harbors going forward.
IRS Dirty Dozen adds new capital gains scheme for 2026
The IRS says a surge in fabricated Form 2439 filings prompted the only new addition to this year’s Dirty Dozen, underscoring how quickly tax schemes evolve.
IRS proposal eases provision of 1099-DA statements by digital asset brokers
The proposed regulations would shift digital-asset reporting toward electronic-only delivery by loosening consent requirements for brokers.
IRS issues higher 2026 depreciation limits for passenger automobiles
The IRS issued the 2026 depreciation limitations for passenger vehicles, including those for which bonus depreciation is applied.
New Schedule 1-A for tips, OT, car loans, and senior deductions published
The Schedule 1-A does not differ from the draft version issued last year, but instructions for Form 1040 provide details and examples on the four temporary deductions.
Senate bill targets preparers who break the law, expands IRS reforms
The AICPA supports the Taxpayer Assistance and Service Act but seeks further improvements.
IRS removes associated-property rule from interest capitalization regulations
The invalidation by the Federal Circuit of the rule and its removal by the IRS affect the treatment of interest on certain improvements to designated property.
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.
