The start of 2026 has brought an unsettling trend for taxpayers and tax professionals alike: a raft of incorrect notices being issued by the IRS. These include penalties related to Form 3520 and, more recently, a series of notices tied to 2024 Form 1040 filings. If...
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...
In 2025, the IRS significantly expanded its use of artificial intelligence (AI), shifting from pilot projects to operational tools in audits, compliance, and taxpayer services. This evolution was driven by the need to close the $688 billion tax gap, improve...
Starting September 2025, the IRS will no longer issue paper refund checks to individual taxpayers. Instead, refunds will be delivered electronically, with direct deposit as the standard method. What This Means for You Electronic refunds only: Faster, more secure, and...
