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IRS News

• Revenue agents who conduct audits lead IRS job losses
  7 May 2025
  The IRS lost 11% of its staff in the first three months of 2025, with revenue agents who conduct audits accounting for the largest percentage of those who left, the […]
• AICPA makes recommendation for updated Form 8971 instructions
  2 May 2025
  In a letter to the IRS, the AICPA recommended that the agency provide further guidance in two areas of new instructions for Form 8971, Information Regarding Beneficiaries Acquiring Property From […]
• HSA inflation-adjusted maximum contribution amounts for 2026 announced
  1 May 2025
  Rev. Proc. 2025-19 also includes the revised maximum amount that may be made newly available for excepted-benefit health reimbursement arrangements.
• AICPA comments on proposed regs. on new transfer-pricing method
  29 April 2025
  The comments are in response to Notice 2025-04, which announced plans for the simplified and streamlined approach as a new transfer-pricing method under Sec. 482 regulations for pricing of baseline […]
• Faulkender named fourth acting IRS commissioner this year
  21 April 2025
  Treasury Secretary Scott Bessent said Michael Faulkender, who was confirmed as deputy Treasury secretary at the end of March, will step in to lead the IRS temporarily.
• Basis-shifting transaction-of-interest regulations to be removed
  18 April 2025
  The announcement by Treasury and the IRS is a reversal from January regulations. Thursday’s notice provides immediate relief from penalties under Secs. 6707A(a), 6707(a), and 6708 for any failure by […]