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Answers Sought On Tax Refund Delays
About 830,000 taxpayers are having their tax refunds held up due to the move away from paper checks and Democratic leadership on the House Ways and Means Committee is seeking information on what the I...

2026 Luxury Auto Depreciation Caps and Lease Inclusion Amounts Issued (Rev. Proc. 2026-15)
The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2026 and the lease inclusion amounts for business vehicles first leased in 2026....

Guidance Provided on Withdrawing Election for Excepted Trade or Business for §163(j) Limit (Rev. Proc. 2026-17)
The IRS has released guidance on the withdrawal of an election to be an excepted trade or business for the Code Sec. 163(j) business interest limitation for the 2022, 2023, and 2024 tax year. The el...

IRS CEO Defends OBBBA Tax Provisions Before House Committee
Internal Revenue Service CEO Frank Bisignano highlighted the early successes of the tax provisions in the One Big Beautiful Bill Act before the House Ways and Means Committee while defending or deflec...

Final Regulations Amend List of Qualified Nonpersonal Use Vehicles to Include Unmarked Emergency Vehicles (TD 10043)
The IRS has finalized regulations to include unmarked vehicles used by firefighters, members of rescue squads, or ambulance crews in the list of “qualified nonpersonal use vehicles” exempt from th...

IRS Proposes Regulations on Trump Accounts and $1,000 Pilot Contribution Program (NPRM-REG-117270-25; NPRM-REG-117002-25; IR 2026-31; IR 2026-33)
Proposed regulations under Code Sec. 530A, providing guidance on making an election to open a Trump account, and under Code Sec. 6434, relating to the Trump account contribution pilot program, have ...

IRS Announces Delayed Applicability Date for Proposed RMD Regulations (Announcement 2026-7)
The IRS expects to delay the applicability date of proposed regulations on required minimum distributions (RMDs) until the distribution calendar year that would begin 6 months after the date the regul...

Eligibility Requirements Waived for Individuals in Haiti, Ukraine, Democratic Republic of the Congo, South Sudan, Iraq, Lebanon, and Mali Claiming Foreign Earned Income Exclusion (Rev. Proc. 2026-16)
The IRS has issued a waiver for individuals who failed to meet the foreign earned income or deduction eligibility requirements of Code Sec. 911(d)(1) because adverse conditions in certain foreign co...

How Do I? Get back start-up expenses in starting a business as quickly as possible
The American Jobs Creation Act of 2004 (2004 Jobs Act) changed the rules for start-up expenses in both favorable and unfavorable ways. Start-up expenditures are amounts that would have been deductible...

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