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IRS Announces No Changes to 2025 Returns or Withholding Under OBBBA (IR-2025-82)
The IRS has announced that, under the phased implementation of the One Big Beautiful Bill Act (OBBBA), there will be no changes to individual information returns or federal income tax withholding tab...

IRS Lists FAQs on Expiration of Energy Credits and Deductions Under OBBB and More (FS-2025-5; IR-2025-86)
The IRS issued frequently asked questions (FAQs) relating to several energy credits and deductions that are expiring under the One, Big, Beautiful Bill Act (OBBB) and their termination dates. The FAQs...

IRS Provides Guidance for “Beginning of Construction” for Applicable Wind and Solar Facilities (Notice 2025-42)
The IRS has provided guidance regarding what is considered “beginning of constructions” for purposes of the termination of the Code Sec. 45Y clean electricity production credit and the Code Sec...

TIGTA Critical of IRS Level of Service and Wait Time Reporting
The Treasury Inspector General for Tax Administration suggested the way the Internal Revenue Service reports level of service (ability to reach an operator when requested) and wait times does not nece...

FinCEN Delays Investment Adviser Rules Until 2028 (FinCEN Exemptive Relief Order)
The Financial Crimes Enforcement Network (FinCEN) has granted exemptive relief to covered investment advisers from the requirements the final regulations in FinCEN Final Rule RIN 1506-AB58 (also calle...

Major tax changes expected under Trump Administration
One month after the presidential election, taxpayers are learning more about President-elect Donald Trump’s tax proposals for his administration. Although exact details, including legislative langua...

Are IRS Q&As authoritative guidance?
The Tax Code is among the most complex of all federal statutes. To explain the Code, the IRS issues guidance. Recently, the IRS has used the “Frequently Asked Question (FAQ)” format to explain som...

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