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Final Regulations Modify Reporting Requirements for Partnership Interest Transfers (TD 10048)
The IRS has issued final regulations modifying reporting obligations for partnerships involved in Code Sec. 751(a) exchanges of partnership interests. The regulations remove the requirement that par...

IRS Issues Guidance on Qualified Long Term Care Distributions (Notice 2026-33)
The IRS has issued guidance on qualified long-term care distributions from qualified retirement plans. The guidance affects providers of certified long-term care insurance (issuers), plan administrato...

Indian Fishing Rights' Income Treated as Compensation Under Qualified Plan Rules (TD 10046)
The IRS finalized regulations treating income derived by individual members of an Indian tribe from fishing rights-related activities as compensation for purposes of limitations on benefits and contri...

IRS Provides Extension Option for ERC Claim Disputes Nearing Deadline (IR 2026-58)
The IRS has introduced a streamlined option allowing taxpayers to extend the time to challenge disallowed Employee Retention Credit (ERC) claims, reducing the need for immediate refund litigation. The...

IRS Establishes Significant Issue Ruling Program for Certain Corporate Transactions (Rev. Proc. 2026-21)
The IRS has established a significant issue ruling program for cerain corporate transactions (Rev. Proc. 2026-21). This program would not diminish the availability of letter rulings under existing pro...

IRS Announces New Settlement Opportunity for Conservation Easement Cases (IR 2026-65)
The IRS has announced a new time-limited settlement opportunity for eligible taxpayers involved in conservation easement and historic preservation easement disputes with the IRS. The program aims to...

AICPA Offers Recommendations Following 2026 Filing Season
Following a 2026 tax filing season that was consistent with the 2025 season, the American Institute of CPAs offered legislators a series of recommendations to help improve filing season in the future....

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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