The Internal Revenue Service has reported the recovery of approximately $10 billion tied to tax‑related crimes, marking a significant milestone as the agency sharpens its focus on criminal enforcement. The figure reflects a broader push by the IRS to combat tax...
On December 4, 2025, the IRS and the Treasury Department issued Notice 2025-68 Notice of Intent to Issue Regulations with Respect to section 530A Trump accounts (‘Notice’). The Notice: * provides an overview of how Trump accounts will operate; * sets out questions...
IRS Will Automatically Issue First‑Time Penalty Relief Starting in 2026 For decades, many taxpayers have been penalized by the IRS for simple one‑time mistakes—filing a return late, paying after the deadline, or missing a payroll deposit—often without realizing that...
If you are a U.S. citizen or resident with an interest in a foreign corporation which exceeds 9%, you are a director of a foreign company in which one or more U.S. persons hold stock which exceeds 9%, or you are related to a person who holds an interest in a foreign...
The One Big Beautiful Bill Act (OBBBA) has now been in force for almost six months, and its impact is beginning to take shape across tax administration and compliance. Key Highlights So Far Streamlined processes: Several filing and reporting requirements have been...
