Transition Guidance on OBBBA Domestic, Foreign Research Expensing Issued
The IRS on Thursday issued transitional guidance on the One Big Beautiful Bill’s (OBBBA) amendments to the treatment of research …
Amid Budget Cuts, AI Could Play Role in IRS Modernization
As the IRS gears up for the upcoming filing season and implements provisions of the new Tax Act, recent efforts …
Cuts in Multilingual Resources May Impact Tax Compliance
Congressional Democrats are urging that the IRS maintain resources and services for non-English speakers – contending that eliminating these options …
IRS Clarifies Clean Energy Rollbacks, Adjusts Sec 45Y Credit for Inflation
The IRS released new FAQs clarifying the accelerated terminations of various clean energy credits under the 2025 Act, formerly known …
Orgs Ask Judge to Block IRS-ICE Data Sharing Policy
An organization led by the previous National Taxpayer Advocate and other groups are seeking either a stay or preliminary injunction …
Republicans Say AI Could Strengthen Tax Fraud Detection
A group of Republicans on the House’s taxwriting committee are pushing for an examination of how artificial intelligence can be …
Chart Summary of Individual Tax Provisions – One Big Beautiful Bill
Practitioner’s Tax Action Bulletin® On 7/4/2025, President Trump signed the One Big Beautiful Bill Act (P.L. 119-21; “the 2025 Act”), …
IRS Proposes to Ease Reporting Rules for Partnership Interest Sales
The IRS has proposed regs to delay and revise the reporting requirements for partnership interest exchanges, aiming to address compliance challenges and …
Direct File Programmers Not Giving Up on Dream of a Cost-Free Tax Season
Though it may seem like the IRS’ free tax filing option available for its first full tax season this year …
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 …