Washington News for Professional Advisors Read about the latest tax and legal developments relevant to charitable giving. Son and Daughter Each Give $35.1 Million to Father July 24, 2026In McDougall v. Commissioner, 163 T.C. 112 (2024), the Tax Court determined that the termination of a QTIP trust and the transfer of assets from two children to their father created taxable gifts... Guard Against Spear Phishing Emails July 17, 2026As cybercriminals continue to target tax professionals with increasingly sophisticated attacks, the Internal Revenue Service (IRS) and its Security Summit partners are reminding practitioners to remain vigilant against phishing and related cyber threats that can compromise sensitive taxpayer information... Abusive CRATS Now Listed Transactions July 10, 2026In T.D. 10051, the Internal Revenue Service (IRS) stated that abusive charitable remainder annuity trusts (CRATs) may be listed transactions... Scholarship Tax Credit Guidance Previewed July 3, 2026The Department of the Treasury recently previewed forthcoming guidance implementing the new federal Education Freedom Tax Credit (EFTC) enacted as part of the Working Families Tax Cuts Act, providing an early roadmap for states, scholarship-granting organizations (SGOs), taxpayers and advisors preparing for the program's anticipated January 2027 launch... Responsible AI Use for Tax Professionals June 26, 2026Artificial intelligence (AI) has become a popular technology for many tax professionals as they review documents using the well-known AI programs such as ChatGPT, Claude, Gemini or Grok... IRS Strategies to Deny Conservation Easement Deductions June 19, 2026The Internal Revenue Service (IRS) currently has over 1,000 conservation easement deduction cases. Many of these are proceeding to Tax Court. As a result, the IRS issued what it claims is the final offer for settlement... IRS and Security Summit Launch New Anti-Fraud Framework June 12, 2026The Internal Revenue Service (IRS) and Security Summit partners recently announced a significant restructuring of their long-standing public-private partnership... Free File Still Available for Non-Filers June 5, 2026On June 2, 2026, the Internal Revenue Service (IRS) announced that taxpayers who missed the April 15 tax filing deadline may still use the IRS Free File program... Child IRA Accounts Launched May 29, 2026The Department of Treasury has announced the activation of the new child IRA accounts also known as "Trump Accounts." These tax-deferred accounts formally launch later this summer... IRS Reminds Homeowners of Tax Benefits May 22, 2026On May 21, 2026, the Internal Revenue Service (IRS) published Tax Tip 2026-42 and reminded taxpayers to review the potential tax benefits available for homeownership. While owning a home can be expensive, certain deductions and credits may help offset some of the costs associated with purchasing and maintaining a residence... IRS Highlights Tax Tips May 15, 2026On May 12, 2026, the Internal Revenue Service (IRS) published IRS Tax Tip 2026-39 which reminded taxpayers to read any mail received from the IRS... Improve Your Smartphone and Computer Security May 8, 2026The Internal Revenue Service (IRS) and its Security Summit Partners recognize there are heightened risks to taxpayers due to artificial intelligence (AI). Hackers now have powerful new AI tools that continue to probe your smartphone and computer software to find vulnerable areas... Tax Refunds $43 Billion Higher This Year May 1, 2026On April 17, the Internal Revenue Service (IRS) reported that it had issued approximately $296 billion in tax refunds. This is an increase of about 17% compared to the prior year... Tax Refund Status Checks April 24, 2026Treasury yields ticked higher throughout the week as geopolitical tensions persisted, and investors waited for the release of April’s Flash PMI data. Yields edged up at the end of the week as the latest employment data showed signs of a stable labor market... IRS Releases New Online Tool April 17, 2026As the April 15 tax deadline has come and gone, the Internal Revenue Service (IRS) launched a new online tool to assist with resolving tax debt. While taxpayers are eligible to file an extension for a deadline of October 15, for most taxpayers, the tax balance remains due by April... Larger Refunds and Last-Minute Filing Tips April 10, 2026As the tax deadline approaches on April 15, the Internal Revenue Service (IRS) reports that most of the tax returns filed to date have resulted in a refund. Of those receiving refunds, approximately 80% have been issued within 21 days. As of March 27, approximately 88 million returns have been... Four Million IRA Accounts for Children April 3, 2026On March 31, 2026, the Internal Revenue Service announced there are IRA plans for four million children. One million children are qualified for the $1,000 government contribution to the plan... Top Tax Tips for Successful Filing March 27, 2026As the April 15-tax filing deadline is approaching, the Internal Revenue Service (IRS) has published its top tax tips for successful filing. The IRS suggests that taxpayers who file near the deadline may benefit from these steps... IRS Highlights Tax Season Scams March 20, 2026The Internal Revenue Service (IRS) reminded taxpayers to stay alert during filing season which is when scams and misleading tax advice tend to spike... IRS Releases Updated Withholding Calculator March 13, 2026The Internal Revenue Service (IRS) recently announced an update to the IRS Tax Withholding Estimator. This new version helps taxpayers account for recent tax law changes when determining the proper amount of federal income tax to withhold from their paychecks... Showing 1 - 20 of 54123Next