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TOPICS

IRS Practice & Procedure

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.

AICPA warns that merger of IRS offices would ‘confuse’ taxpayers

The proposed merger of the Office of Professional Responsibility and the Return Preparer Office would blur “the public’s ability to perceive the distinction between credentialed, uncredentialed, and unenrolled preparers,” the AICPA said in a letter.

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