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.
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TOPICS
IRS Practice & Procedure
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.
Penalties under codified economic substance doctrine upheld
The taxpayers’ deductions from microcaptive insurance transactions lacked economic substance under Sec. 7701(o), the Tax Court held, upholding a Sec. 6662(b)(6) underpayment penalty.
Refund suit dismissed because Flora full-payment rule not met
Debts discharged in bankruptcy not fully paid for purposes of the Flora full-payment rule.
IRS should open Trump accounts for eligible children automatically, AICPA says
In a letter to the IRS and Treasury, the AICPA said enrolling children by default “would promote equitable access, reduce procedural barriers, and strengthen the intended reach of the program.”
GAO says tax pros helped shape IRS response to ERC issues
The report to Congress also recommends four ways for the IRS to close the chapter on the pandemic-era credit.
Anticipated applicability date for future final RMD regs. announced
The IRS said it anticipates that the future final regulations on RMDs under Sec. 401(a)(9) will apply for the distribution calendar year that begins no earlier than six months after those regulations’ appearance in the Federal Register.
AICPA seeks guidance on Sec. 174A(c) capitalization and amortization of R&E
Requested guidance can be provided through modifications to Rev. Proc. 2025-28 and/or other published guidance.
Average tax refund rises 11%; total filings decline
The average individual tax refund is up nearly 11% in the first 10 business days of the 2026 filing season, rising to $2,290 from $2,065 last year.
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.
