Newsletters
Treasury and the IRS intend to issue proposed regulations under sections 897(d) and (e) to modify the rules under §§1.897-5T and 1.897-6T, Notice 89-85, 1989-31 I.R.B. 9, and Notice 2006-46, 2...
The IRS has reminded employers that they may continue to offer student loan repayment assistance through educational assistance programs until the end of the tax year at issue, December 31, 2025. Unde...
The IRS Whistleblower Office emphasized the role whistleblowers continue to play in supporting the nation’s tax administration ahead of National Whistleblower Appreciation Day on July 30. The IRS ha...
The 2025 interest rates to be used in computing the special use value of farm real property for which an election is made under Code Sec. 2032A were issued by the IRS.In the ruling, the IRS lists th...
Philadelphia has clarified its Business Income and Receipts Tax policy following the elimination of a $100,000 exemption beginning in 2025. Businesses newly subject to the tax are treated as "new busi...
The IRS has announced that, under the phased implementation of the One Big Beautiful Bill Act (OBBBA), there will be no changes to individual information returns or federal income tax withholding tables for the tax year at issue.
The IRS has announced that, under the phased implementation of the One Big Beautiful Bill Act (OBBBA), there will be no changes to individual information returns or federal income tax withholding tables for the tax year at issue. Specifically, Form W-2, existing Forms 1099, Form 941 and other payroll return forms will remain unchanged for 2025. Employers and payroll providers are instructed to continue using current reporting and withholding procedures. This decision is intended to avoid disruptions during the upcoming filing season and to give the IRS, businesses and tax professionals sufficient time to implement OBBBA-related changes effectively.
In addition to this, IRS is developing new guidance and updated forms, including changes to the reporting of tips and overtime pay for TY 2026. The IRS will coordinate closely with stakeholders to ensure a smooth transition. Additional information will be issued to help individual taxpayers and reporting entities claim benefits under OBBBA when filing returns.