Interest rates remain the same for the first quarter of 2026
The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2026.
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All Featured (33) For the Public (149) Tax News (537) Accounting & Auditing (248) Business & Industry News (142) Regulatory News (120) Legislative News (62) Chapter News (49) Young CPAs (91) Students (108) TSCPA Press Releases (104)Showing : 1–10 of 537
401(k) limit increases to $24,500 for 2026, IRA limit increases to $7,500
The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025.
View MoreIRS Ends Direct File Program
The IRS recently announced that it ended Direct File, a program that allowed eligible taxpayers to file tax returns directly with the IRS for free.
View MoreTreasury, IRS provide penalty relief for tax year 2025 for information reporting on tips and overtime under the One, Big, Beautiful Bill
The Department of the Treasury and the Internal Revenue Service today issued guidance providing penalty relief to employers and other payors for tax year 2025 regarding new information reporting requirements for cash tips and qualified overtime compensation under the One, Big, Beautiful Bill.
View MoreUnpacking the One Big Beautiful Bill (Part 2: Businesses)
In the previous issue, we reviewed changes to the tax code introduced or extended by the One Big Beautiful Bill (OBBB), focusing on individual taxpayers. In this issue, we turn to the provisions affecting businesses.
View MoreOverview of OBBBA Tax Provisions for Individuals and Tax Form Implementation
Legislation H.R. 1, P.L. 119-21, better known as the One Big Beautiful Bill Act (OBBBA), was signed into law by President Donald Trump on July 4, 2025.
View MoreSocial Security Wage Base, COLA Set for 2026
The Social Security Administration (SSA) recently announced that individual taxable earnings of up to $184,500 annually will be subject to Social Security tax in 2026.
View MoreIRS issues FAQs on Form 1099-K threshold under the One, Big, Beautiful Bill; dollar limit reverts to $20,000
The Internal Revenue Service today issued frequently asked questions in Fact Sheet 2025-08 regarding the dollar threshold for filing Form 1099-K under the One, Big, Beautiful Bill.
View MoreCongress Passes Internal Revenue Service Math and Taxpayer Help Act
The U.S. Senate recently passed the Internal Revenue Service Math and Taxpayer Help Act, H.R. 998.
View MoreTreasury, IRS provide transition relief for 2025 for businesses reporting car loan interest under the One, Big, Beautiful Bill
The Department of the Treasury and the Internal Revenue Service today provided transitional guidance for businesses required to report car loan interest under the One, Big, Beautiful Bill.
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