News

After issuing a decrease last year, the IRS on Tuesday posted slightly higher depreciation limitations for passenger automobiles. These limits are updated annually for inflation, based on the automobile component of the Chained Consumer Price Index for Urban Consumers.

The American Institute of CPAs (AICPA) is signaling its strong support for a bipartisan bill which contains 63 provisions designed to improve tax administration and reduce the burdens on taxpayers and their preparers. The Taxpayer Assistance and Service (TAS) Act, introduced by Senate Finance Committee Chairman Mike Crapo (R-ID) and Ranking Member Ron Wyden (D-OR), addresses important tax provisions that the AICPA has long-advocated for, including...

The Internal Revenue Service published, for tax year 2025, a new schedule that taxpayers will use to realize important tax benefits of the One, Big, Beautiful Bill, including no tax on tips, no tax on overtime, no tax on car loans, and no tax on seniors.

The Internal Revenue Service today announced the launch of a new web page that allows taxpayers to confidentially report suspected tax fraud, scams, evasion, or other tax-related illegal activities, as well as internal-facing improvements that will enhance how referrals are used to stop illegal activity.

The IRS said Monday in Announcement 2026-7 that it anticipates that portions of final regulations to be issued regarding required minimum distributions (RMDs) will apply for the distribution calendar year that begins no earlier than six months after the date that those regulations appear in the Federal Register.

The Department of the Treasury and the Internal Revenue Service today provided interim guidance for taxpayers regarding the special depreciation allowance for qualified production property enacted under the One, Big, Beautiful Bill.

The average direct-deposit tax refund amount is up 11% this year compared with the same span in 2025, the IRS said in a release.

With the 2026 filing season underway and increased call-center demand around the Presidents Day holiday on Feb. 16, the Internal Revenue Service encourages taxpayers to visit Let Us Help You on IRS.gov and use online tools to get fast, convenient help without waiting on hold.

The Internal Revenue Service today announced a new expansion of Tax Pro Account, introducing business-level digital capabilities for tax professionals who work in tax-preparation companies, accounting firms, or other organizations.

The IRS will stay fully staffed for the first five working days of a possible Saturday shutdown, a lapsed appropriations contingency plan posted late Friday shows — temporarily easing concerns that the IRS would furlough employees during tax filing season.

As the nation faces the possibility of another government shutdown, the American Institute of CPAs (AICPA) has urged the Internal Revenue Service (IRS) to release a contingency plan excepting 100 percent of IRS employees in the event of a shutdown. In a letter to the Agency, the AICPA highlighted the severe impact a failure to do so would have on the 2026 filing season.

The Internal Revenue Service today issued frequently asked questions in Fact Sheet 2026-02 PDF to help taxpayers, businesses, and other stakeholders understand the changes under Executive Order 14247: Modernizing Payment To and From America’s Bank Account.

National Taxpayer Advocate Erin M. Collins today released her 2025 Annual Report to Congress, finding that taxpayers generally fared well in their dealings with the IRS in 2025 and that most taxpayers are likely to have a smooth experience in 2026. However, the report cautions the upcoming filing season is likely to present greater challenges for taxpayers who encounter problems.

With major tax legislation to digest and the Internal Revenue Service laboring under serious staffing and budget restraints, it might be reasonable to approach tax season with serious concerns — but experts see some reason for cautious optimism.

The IRS Advisory Council’s (IRSAC’s) annual report included a strong defense of the agency and its employees and criticism of budget and staff cuts amidst passage of a massive bill with more than 100 tax law changes.

The Department of the Treasury and the Internal Revenue Service today issued guidance for certain retirement plan administrators, updating safe harbor explanations to reflect tax law changes made after Aug. 6, 2020.

The Department of the Treasury and the Internal Revenue Service today issued Notice 2026-11 PDF that provides taxpayers with guidance on the permanent 100% additional first year depreciation deduction for eligible depreciable property acquired after Jan. 19, 2025, provided by the One, Big, Beautiful Bill. The notice also provides guidance on certain qualified sound recording productions that the OBBB added as property that may be eligible for the additional first year depreciation deduction.

Taxpayers may be able to take advantage of new deductions that could reduce taxable income and increase refunds due to the One, Big, Beautiful Bill, passed by Congress in July 2025. Provisions from the new law can have a significant effect on federal taxes, credits and deductions. The legislation includes four prominent provisions for individuals: the “deduction for seniors,” “no tax on tips,” “no tax on overtime” and “no tax on car loan interest.” Taxpayers claiming these deductions should use Schedule 1-A and see the related instructions.

The Internal Revenue Service announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. This year, several new tax law provisions of the One, Big, Beautiful Bill become effective, which could impact federal taxes, credits and deductions.

After decades of attempts, modernization of the IRS’s information technology systems will be completed by 2028, former Acting IRS Commissioner Michael Faulkender said during Thursday’s AICPA Town Hall webcast.