IRS In Audio

IRS Reminder for Oct. 15 Filing Deadline (IR-2025-104) Date: Oct 14, 2025. Applies to tax year 2024 returns for those who filed extensions. Deadline: Oct 15 (midnight). IRS urges e-filing and electronic payments; paper filers can use Form 1040 and instructions for mailing addresses. Government shutdown note: Filing and payment obligations remain in effect; IRS will accept/process payments by mail...

IRS Inflation Adjustments for Tax Year 2026 (IR-2025-103) Applies to 2026 returns filed in 2027; detailed in Revenue Procedure 2025-32. Standard deduction (2026): $32,200 MFJ; $16,100 Single/MFS; $24,150 HOH. Note: OBBB set 2025 SD at $31,500 MFJ; $15,750 Single/MFS; $23,625 HOH. Marginal brackets (Single; MFJ): 37% over $640,600; $768,700. 35% over $256,225; $512,450. 32% over $201,775; $403,550....

Treasury/IRS Penalty Relief for Remittance Transfer Providers (IR-2025-102) Date: Oct 7, 2025. IRS issues Notice 2025-55 granting limited deposit penalty relief for the first three quarters of 2026 related to the new remittance transfer excise tax under the One, Big, Beautiful Bill (OBBB). Relief conditions: Providers avoid deposit penalties if they make timely deposits (even if miscalculated) and...

Jarod Koopman to Lead IRS Enforcement (Acting CTCO) Jarod Koopman named Acting Chief Tax Compliance Officer, overseeing enforcement divisions: LBI, SB/SE, TE/GE, Criminal Investigation (CI), Office of Professional Responsibility, Return Preparer Office, and Whistleblower Office. Background: CI executive since 2016; built Cyber Crimes and Cyber and Forensics Services; led IRS-CI’s growth in crypto...

IRS Appeals Launches Post Appeals Mediation (PAM) Pilot The IRS Independent Office of Appeals launched a two-year pilot to make PAM more attractive to taxpayers. Under the pilot, mediation cases are reassigned to an Appeals team not connected to the original case to provide a fresh, expedited look; other PAM features remain unchanged. PAM occurs after an unsuccessful Appeals process and typically...

Volunteers Needed for No-Cost Tax Services (VITA/TCE) IRS and community partners are recruiting volunteers for VITA (Volunteer Income Tax Assistance) and TCE (Tax Counseling for the Elderly) for the upcoming filing season. Who they help: EITC-eligible taxpayers, people with disabilities, limited English speakers, seniors, and other underserved groups. No experience required: Free IRS training prov...

IRS Extends Feedback Period on Form 6765 (Research Credit) Comment period for draft Instructions to Form 6765 extended through March 31, 2026; IRS plans revised instructions in Jan 2026 (for TY 2025/processing 2026). Section G of Form 6765 will be optional for all filers for tax year 2025. Starting tax year 2026 (processing 2027), Section G becomes mandatory for all filers, with optional reporting...

Guidance on Opportunity Zone Investments in Rural Areas (OBBB) Treasury and IRS issued Notice 2025-50 clarifying Opportunity Zone (QOZ) rules for rural areas under the One, Big, Beautiful Bill (OBBB). New rural definition: any area not a city/town over 50,000 population and not an adjacent urbanized area to such a city/town; applies across states, DC, and U.S. territories. Substantial improvement...

IRS Announces New Relief for Taxpayers Affected by Events in Israel The IRS is postponing many tax filing and payment deadlines to Sep 30, 2026, for eligible individuals and businesses affected by ongoing events in Israel. Covered by Notice 2025-53, building on Notice 2023-71 and Notice 2024-72; collectively, deadlines from Oct 7, 2023 through Sep 30, 2026 may be postponed for eligible taxpayers....

Treasury, IRS Reduce PTIN User Fee Treasury and IRS issued interim final regs and a proposed rule to lower the PTIN user fee for tax professionals. New fee: $10 IRS user fee (down from $11) + $8.75 paid to a third-party contractor. Effective with the next PTIN renewal cycle beginning Oct 16, 2025. PTIN fee is nonrefundable; penalties may apply for not having/using a valid PTIN. Expected volume: 90...

IRS to Phase Out Paper Tax Refund Checks 📢 Key Update: Starting Sept. 30, 2025 , the IRS (with Treasury) will phase out paper tax refund checks for individual taxpayers, per Executive Order 14247 . This is the first step in a broader transition to electronic payments . 💡 Why the Change? Protect taxpayers: Paper checks are 16x more likely to be lost, stolen, altered, or delayed than electronic re...

IRS Extends Drought Relief for Farmers and Ranchers What Happened: IRS issued Notice 2025-52 , extending tax relief for farmers and ranchers who sold livestock due to drought . Relief applies across 49 states, D.C., and other regions with drought (Sept. 2024 – Aug. 2025). Who Qualifies: Eligible: Sales/exchanges of livestock held for draft, dairy, or breeding purposes . Not eligible: Livestock rai...

Treasury & IRS Guidance on Tipped Occupations (One, Big, Beautiful Bill) Context: Guidance issued under the “no tax on tips” provision of the One, Big, Beautiful Bill . Proposed regulations identify which occupations customarily receive tips and define what counts as qualified tips eligible for deduction. Nearly 70 occupations are listed, ranging from bartenders to water taxi operators . Occup...

Treasury, IRS Issue Final Regulations on Roth Catch‑Up Rule & SECURE 2.0 Core Regulation: Employees age 50+ can make catch‑up contributions to workplace retirement plans (e.g., 401(k), SIMPLE IRA). Under SECURE 2.0 , high‑income earners (with wages above certain thresholds) must make these catch‑ups as after‑tax Roth contributions . Key Updates in Final Regulations: Aggregation of wages : Plan...

IRS Assesses $162 Million in Penalties Over False Tax Credit Claims Tied to Social Media The IRS has issued a strong warning about a surge in fraudulent tax schemes promoted on social media, which encourage taxpayers to claim false credits like the Fuel Tax Credit or Sick and Family Leave Credit. Since 2022, these scams, often spread by individuals posing as tax experts, have led to thousands of i...

Summary — IRS Urges Emergency Preparedness Ahead of Peak Disaster As hurricane season peaks and wildfire risks remain high, the IRS urges individuals and businesses to update their emergency preparedness plans during National Preparedness Month. Key steps include safeguarding important documents like tax returns and insurance policies in waterproof, fireproof containers, maintaining detailed inven...

IRS News Release: Security Summit reminds tax pros to guard against identity theft (Aug. 26, 2025) The IRS and its Security Summit partners closed out their “Protect Your Clients; Protect Yourself” summer awareness campaign by urging tax professionals to remain vigilant against identity theft. Nearly 300 data breaches reported in the first half of 2025 affected as many as 250,000 clients . The Sec...

Key points / rates (annual, compounded daily) Individuals: 7% for overpayments and 7% for underpayments. Corporations: 6% for overpayments; 7% for underpayments. Portion of a corporate overpayment exceeding $10,000: 4.5%. Large corporate underpayments: 9%. Legal / calculation context Interest rates are set quarterly under the Internal Revenue Code and are expressed as the federal short-term rate p...

Summary: The IRS issued frequently asked questions (FAQs) in Fact Sheet 2025-05 to provide guidance on modifications to several energy-related tax provisions under the One Big Beautiful Bill Act (OBBB). These FAQs clarify the accelerated termination dates for energy credits and deductions, including sections 25C, 25D, 25E, 30C, 30D, 45L, 45W, and 179D. Key Points: Guidance on expiring energy credi...

Summary: The IRS announced that for Tax Year 2025, there will be no changes to certain information returns or withholding tables related to the One Big Beautiful Bill Act. This decision is part of a phased implementation to avoid disruptions during the tax filing season and to allow sufficient time for effective implementation. Key Points: Form W-2, existing Forms 1099, Form 941, and other payroll...

Summary: The IRS is inviting the public to participate in an anonymous feedback survey on tax preparation and filing options. This survey is part of the Department of Treasury and IRS efforts to fulfill a reporting requirement to Congress under the One Big Beautiful Bill Act. The law mandates that Treasury deliver a report to Congress by October 2, 2025, addressing key issues related to free tax f...

Summary: The IRS announced the application window for the 2026 CAP program, running September 3 through October 31, 2025. Successful applicants will be informed in February 2026. CAP promotes real-time issue resolution between large corporations and the IRS, preventing disputes after returns are filed. Key details: Applicants must have assets of $10 million or more. Eligible entities: U.S. publicl...

Summary: The IRS and Security Summit partners highlight three core defenses against tax-related identity theft: multi-factor authentication (MFA), Identity Protection PINs (IP PINs), and IRS Online/Tax Pro Accounts. The update stresses that MFA is now a federal requirement under the FTC Safeguards Rule for protecting client data and encourages all taxpayers to enroll in IP PINs and set up secure I...

Summary: The IRS has announced that, as part of the phased implementation of the One Big Beautiful Bill Act, there will be no changes to individual information returns or federal income tax withholding tables for Tax Year 2025. This means that forms such as W-2, existing 1099s, Form 941, and other payroll return forms will remain unchanged for 2025. Employers and payroll providers should continue...

Summary: The Internal Revenue Service (IRS) has issued a reminder that employers can continue to use educational assistance programs to help employees pay down student loans through December 31, 2025. Under current law, employers may contribute up to $5,250 annually per employee toward student loan repayment, and these payments are not counted as taxable wages. This provision, originally expanded...