Tax regulations

Fact Sheet 2025-08 goes into detail regarding the dollar threshold for filing Form 1099-K under the One, Big, Beautiful Bill Act.

The proposed regulations will provide a rule for determining the source of borrow fees paid in securities-lending transactions and sale-repurchase transactions.

The Senate passed the Internal Revenue Service Math and Taxpayer Help Act despite the government shutdown, sending it to President Trump for his signature.

Notice 2025-57 explains how businesses should report interest to car purchasers so they can deduct it under the OBBBA.

The American Institute of CPAs is asking for more flexibility for taxpayers who wish to claim tax deductions for overtime and tip income under the OBBA.

A review of over 800 calls found that the overwhelming majority of phone interactions with Internal Revenue Service reps were courteous and professional.

Notice 2025-55 provides relief in connection with the new excise tax imposed on certain remittance transfers under the One Big Beautiful tax bill. 

Rev. Proc. 2025-32 from the Internal Revenue Service detailed a number of changes, including a rise in the standard deduction to $32,200 for married couples filing jointly.

The Internal Revenue Service is taking steps to make sure taxpayers and tax preparers can reflect OBBBA changes in 2025 tax returns.

The comment period has been extended to March 31, and the extra 45 days to perfect R&D claims is now available Jan. 10.

The IRS is lowering the fee for PTINs from $11 to $10.

The Treasury and the IRS issued guidance on qualified OZ investments in rural areas under the One Big Beautiful Bill Act.

Notice 2025-54, announces the special per diem rates for the special transportation industry rate, the rate for the incidental expenses-only deduction, and the rates and list of high-cost localities.

The agency extended the four-year replacement period for livestock sold due to drought.

The Treasury Department released its proposal regarding tax relief on tips, one of Donald Trump's key promises in the 2024 campaign, including new prohibitions.

The proposed regulations on the "no tax on tips" provision of the One Big Beautiful Bill Act outline which jobs and tips would be eligible.

The Internal Revenue Service and the Treasury issued final regulations on the new Roth catch-up contribution rule from the SECURE 2.0 Act.

The Internal Revenue Service has posted a draft version of Schedule 1-A that will be used next tax season when claiming new tax breaks.

A group of mostly Democratic lawmakers sent a letter to Treasury Secretary Scott Bessent criticizing recent moves to ease the corporate alternative minimum tax for large corporations in two recent notices.

The market for transferable tax credits for clean energy grew in the past year, but moves by the Trump administration blocked wind and solar energy.