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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Tariffs, Federal Cuts, and Disclosures: GASB Chair Says the Rulebook Already Covers It
State and local finance officials are running scenarios they didn’t expect to revisit this soon: tariff shocks that hit trade …
IRS Announces Increases for 2026 ACA Employer Shared Responsibility Penalties
Rev. Proc. 2025-26 (July 22, 2025) Available at https://www.irs.gov/pub/irs-drop/rp-25-26.pdf The IRS has announced 2026 indexing adjustments to the applicable dollar amount used to calculate …
Some Charities Can Trigger Tougher GAAP Rules by Tapping Public Debt
A trip to the bond market can come with an accounting surprise for some charities. Advisers told the Financial Accounting …