The Department of the Treasury and the Internal Revenue Service today issued Revenue Procedure 2026-25 providing a gift tax reporting safe harbor for certain contributions to Trump accounts created under the Working Families Tax Cuts.
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National Taxpayer Advocate Erin M. Collins today released her Fiscal Year 2027 Objectives Report to Congress, highlighting a largely successful 2026 filing season in which the IRS processed nearly 139 million individual tax returns, issued more than 90 million refunds, and successfully implemented extensive tax law changes despite significant operational challenges.
The Internal Revenue Service today announced select Taxpayer Assistance Centers will be open Saturday, June 27, for the final Saturday service event of 2026.
The Internal Revenue Service Electronic Tax Administration Advisory Committee released its 2026 annual report today with a total of 18 recommendations – six of which are directed to Congress.
The IRS announced that 27 states have elected to participate in the Federal Scholarship Tax Credit (FSTC) program, which enables eligible taxpayers to claim a federal tax credit for qualified contributions to Scholarship Granting Organizations (SGOs) providing scholarships for qualified elementary and secondary education expenses.
The Internal Revenue Service and Security Summit partners today announced a restructuring of the public-private partnership designed to strengthen protections and enhance information sharing across the tax system.
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FASB published a proposed Accounting Standards Update to improve investment company financial reporting by amending how investment companies measure the fair value of an equity security that is subject to a contractual sale restriction.
The request follows reports from taxpayers who said they received notices despite not expecting a refund or having already provided direct deposit information.
The guidance sets forth conditions for contributions to qualify for the annual gift tax exclusion and for donors to avoid filing gift tax returns.
While an increasing number of large U.S. companies turned to audit firms for assurance of sustainability data in 2024, a gap persists with the rest of the world, an annual report shows.
The IRS warned that AI’s risks — including fabricated outputs and data privacy concerns — require practitioners to verify results and follow existing Circular 230 rules on diligence, competence, and confidentiality.
The PCAOB seeks public comment on future areas of focus for standard setting, building on the dialogue initiated earlier this year.
The national taxpayer advocate’s Fiscal Year 2027 Objectives Report to Congress says the IRS processed about 139 million returns and handled most refunds smoothly but says the story was different for taxpayers who needed help from a human being.
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The Airbnb-style company Swimply said there have been about 275,000 private pool reservations so far this year.
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