IRS issues guidance for ‘Trump Accounts’ for children
The IRS and Treasury Department have published guidance and announced plans to issue regulations for “Trump Accounts,” which are a ...
Tag: IRS
Senate-approved IRS reform addresses math, clerical error procedures
The Senate passed legislation requiring the IRS to provide taxpayers with details on notices related to a math or clerical ...
IRS strikes funding rule from new tax on stock repurchases
The IRS has removed a controversial rule in a new regulation implementing a 1% excise tax on certain types of ...
IRS releases interim guidance on ACRE Act tax benefit
The IRS issued interim guidance for a new tax benefit for lenders serving rural and agricultural communities, which was included ...
ABA raises concerns with draft tax form
Several aspects of a draft tax reporting form raise “significant concerns” and could lead to the IRS being inundated with ...
IRS makes new reporting requirement for qualified charitable deductions optional for 2025
The IRS has delayed implementation of its new “code Y” reporting requirement on Form 1099-R for qualified charitable distributions made ...
Treasury Department creates position of IRS CEO
The Treasury Department announced the creation of the new position of IRS chief executive officer and tapped current Social Security ...
ABA urges IRS to improve process for business change of address
ABA recommended that the IRS notify responsible parties electronically whenever a business address change occurs, saying that implementing the requirement ...
ABA asks IRS to delay new reporting requirement
ABA submitted a comment letter to the IRS requesting that the agency delay by 12 months the effective date of ...
IRS releases Health Savings Account amounts for 2026
The IRS published the inflation-adjusted contribution limits and high-deductible health plan requirements for 2026.
