The U.S. Senate recently passed H.R. 1491, the Disaster Related Extension of Deadlines Act, which requires the IRS to treat the postponement of the federal tax return deadline due to a federally declared disaster or certain other events as an extension for purposes of calculating the limit on a tax refund. The legislation now goes to […]
Senate Passes Disaster Related Extension of Deadlines Act Read More »
https://www.irs.gov/newsroom/treasury-irs-allow-states-to-make-an-advance-election-to-participate-in-the-new-federal-tax-credit-for-individual-contributions-to-scholarship-granting-organizations-under-the-one-big-beautiful-bill
https://www.irs.gov/newsroom/treasury-irs-provide-guidance-on-new-tax-benefits-for-health-savings-account-participants-under-the-one-big-beautiful-bill
https://www.irs.gov/newsroom/treasury-irs-issue-guidance-on-trump-accounts-established-under-the-working-families-tax-cuts-notice-announces-upcoming-regulations
The IRS recently issued final regulations (T.D. 10037) regarding the application of the 1% excise tax on stock repurchases by publicly traded corporations under Sec. 4501. Introduced by the Inflation Reduction Act of 2022, the tax is based on the fair market value (FMV) of a corporation’s stock that certain corporations repurchase during a tax
IRS Issues Final Regulations on Stock Repurchase Excise Tax Read More »
https://www.irs.gov/newsroom/treasury-irs-provide-guidance-for-individuals-who-received-tips-or-overtime-during-tax-year-2025
https://www.irs.gov/newsroom/treasury-irs-issue-guidance-on-tax-benefit-for-lenders-on-loans-secured-by-farm-or-rural-property-under-the-one-big-beautiful-bill
The IRS recently announced the production shutdown and acknowledgment retrieval schedule for the Modernized e-File (MeF) system to prepare for the upcoming tax filing season. The schedule is as follows: The shutdown for “Send Submissions” will begin at 11:59 a.m. Eastern Time on Friday, Dec. 26, 2025. Transmitters may continue to use all other service
Modernized e-File Production Shutdown Schedule Read More »
https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500
401(k) limit increases to $24,500 for 2026, IRA limit increases to $7,500 Read More »
https://www.irs.gov/newsroom/interest-rates-remain-the-same-for-the-first-quarter-of-2026
Interest rates remain the same for the first quarter of 2026 Read More »