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Temporary Regs Issued on Trump Accounts; Prior Proposed Regs Withdrawn (TD 10056; CC-00226466-26)
The IRS has issued proposed and temporary regulations under Code Sec. 530A, regarding general requirements for Trump accounts, the establishment of an initial account, including automatic enrollment b...

2026-2027 Special Per Diem Rates Released (Notice 2026-60)
The IRS has released the 2026-2027 special per diem rates. Taxpayers use the per diem rates to substantiate certain expenses incurred while traveling away from home. These special per diem rates inclu...

Social Security Wage Cap and Benefit Amounts Increase for 2027 (SSA Press Release; SSA Fact Sheet)
For 2027, the Social Security wage cap will be $192,300, and Social Security and Supplemental Security Income (SSI) benefits will increase by 3.6 percent. These changes reflect cost-of-living adjustme...

IRS Establishes New Correction Program for Individual Retirement Arrangements (Rev. Proc. 2026-33)
The IRS established the IRA Compliance Resolution System (ICRS) to permit IRA owners and custodians to correct failures related to individual retirement arrangements by submitting a request to the IRS...

IRS Updates EPCRS to Reflect SECURE 2.0 Act (Rev. Proc. 2026-34)
The IRS updated the Employee Plans Compliance Resolution System (EPCRS), its comprehensive system of corrections programs for employer-sponsored qualified retirement plans. The updates reflect signifi...

Regulations Finalized for Payment of Tax by Commercially Acceptable Means (TD 10060)
The IRS has issued final regulations under Code Sec. 6311 implementing changes made by the Taxpayer First Act. The regulations permit the IRS to pay fees under contracts for processing tax payments by...

Proposed and Temporary Regulations Issued for Code Sec. 25F Federal Scholarship Tax Credit (TD 10057; NPRM REG-117199-25; IR 2026-117)
The IRS has issued proposed and temporary regulations providing guidance on the new federal scholarship tax credit under Code Sec. 25F. Beginning after 2026, an individual may claim a nonrefundable fe...

Proposed Regulations Explain Code Sec. 1062 Farmland Installment Election (NPRM REG-117095-25; IR 2026-115)
The Treasury Department and IRS have issued proposed regulations under Code Sec. 1062 governing the election to pay tax attributable to gain from qualified sales or exchanges of qualified farmland pro...

CART Delivers Risk Assessment To The AI Discussion
As the excitement of understanding what artificial intelligence can do for the tax profession starts to subside, the conversation is beginning to shift to risk management and risk assessment. To that ...

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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