Self-Reporting Misconduct Can Be Beneficial for Practitioners, OPR Says
Tax practitioners who self-report Circular 230 violations may avoid harsher sanctions and qualify for favorable settlements, the IRS’ Office of …
Federal Tax Checkpoint News Staff
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Social Security Bill Proposes New Inflation Measure, Tax Changes for High Earners
Senator Mazie Hirono (D-HI) and Representative Jill Tokuda (D-HI) have introduced the Protecting and Preserving Social Security Act to address Social Security’s …
FIRE System Will Retire by Tax Year 2026, Says IRS
The IRS has announced that the Filing Information Returns Electronically (FIRE) system will be retired for the tax year 2026, …
IRS Obtained Proper Penalty Approval in Easement Case, Court Finds
The IRS met the supervisory approval requirements when it assessed penalties against Sand Valley after disallowing the company’s $35.38 million …
Checkpoint’s Exclusive Executive Summary of the 2025 Tax Act
In a series of marathon Senate and House sessions leading up to the July 4th holiday, Congress passed the Act …
Publisher’s Note for the Juneteenth Holiday
Due to the Juneteenth federal holiday, there will be no Checkpoint News articles published on Thursday, June 19, 2025. …
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Does an Employee’s Prior Consent to Electronic Furnishing of Form W-2 Also Apply to Receiving Form 1095-C Electronically?
QUESTION: Our company is an applicable large employer (ALE) and would like to distribute Form 1095-C electronically to employees. If …
In Dispute Over Deceased Participant’s 401(k) Plan Benefits, Clear Plan Documents Fulfill Fiduciary Duty
LeBoeuf v. Entergy Corp., 2025 WL 1262414 (5th Cir. 2025) Available at https://www.ca5.uscourts.gov/opinions/unpub/24/24-30583.0.pdf Following a 401(k) plan participant’s death, his …
Rhode Island Enacts Budget Bill Increasing Several Tax Rates, Expanding Net Income Definition, Setting Various Sunset Dates, Other Provisions
By Brian Skornicki, Esq., Checkpoint News On June 30, 2025, the fiscal year 2026 budget bill has been enacted without …