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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IRS Announces 2026 HSA and EBHRA Contribution Limits, HDHP Minimum Deductibles, and HDHP Out-of-Pocket Maximums
Rev. Proc. 2025-19 (May 1, 2025) Available at https://www.irs.gov/pub/irs-drop/rp-25-19.pdf The IRS has released the 2026 cost-of-living adjusted limits for health …
Newly Issued US Hedge Accounting Rules Reshape How Businesses Track Financial Risk
The Financial Accounting Standards Board (FASB) has introduced new hedge accounting rules for how companies report on complex financial tools …
House Panel Revisits Sarbanes-Oxley as Smaller Companies Cite Rising Burdens
As Republican lawmakers seek to reduce compliance burdens for public companies, Section 404(b) of the Sarbanes-Oxley Act of 2002 was …