United States

On 29 October 2026, the Internal Revenue Service (IRS) released IR-2026-129 announcing record-setting performance for fiscal year 2026. Following the enactment of the Working Families Tax Cuts, the IRS collected the highest tax revenue in United States history while simultaneously delivering record-high refund amounts to more taxpayers at unprecedented speed. This milestone reflects enhanced operational

On 29 October 2026, the Internal Revenue Service (IRS) issued Tax Tip 2026-78, alerting taxpayers to a surge in tax credit scams that exploit confusion around eligibility criteria for various federal credits. The advisory highlights how scammers use misleading information—often circulated via social media, email, or phone—to convince taxpayers they qualify for credits such as

On 27 October 2026, the IRS released Tax Tip 2026-77, providing a comprehensive overview of how various retirement income streams are taxed under current federal law. The guidance covers traditional pensions, annuities, Social Security benefits, distributions from 401(k) and IRA accounts, and other retirement plans. It explains that while some income—such as Roth IRA qualified

On October 23, 2026, the Internal Revenue Service (IRS) issued IR-2026-128, encouraging taxpayers to adopt proactive, year-round tax planning habits to avoid surprises during the 2027 filing season. The release emphasizes that consistent attention to withholding, estimated payments, and life-event adjustments can significantly reduce filing complexity and potential penalties. This guidance aligns with the IRS’s

On October 22, 2026, the Internal Revenue Service released IR-2026-127, reminding taxpayers of the persistent threat of tax-related identity theft and outlining critical protective measures. The IRS emphasized the importance of securing IRS online account credentials and strongly recommended obtaining an Identity Protection Personal Identification Number (IP PIN) to prevent fraudulent tax return filings. This

On October 22, 2026, the U.S. Department of the Treasury and the Internal Revenue Service issued two revenue procedures under IR-2026-126 that significantly update the Employee Plans Compliance Resolution System (EPCRS) for employer-sponsored retirement plans and establish a new, dedicated correction program for Individual Retirement Accounts (IRAs). These changes, effective for plan years beginning after

On 22 October 2026, the Internal Revenue Service (IRS) released Tax Tip 2026-76 emphasizing Individual Retirement Accounts (IRAs) as a critical vehicle for retirement savings. The guidance outlines how traditional and Roth IRAs allow earnings to grow tax-deferred or tax-free, respectively, providing significant long-term tax advantages. The IRS reminds taxpayers that contribution limits for 2026

On October 21, 2026, the Internal Revenue Service announced temporary administrative relief under IR-2026-125 from reporting and recordkeeping requirements for taxes imposed by Internal Revenue Code section 4041(a) on certain fuel uses. This relief applies to specific nontaxable uses of diesel fuel and kerosene, providing affected taxpayers—including fuel retailers, fleet operators, and agricultural users—with a

On 20 October 2026, the IRS published Tax Tip 2026-75 coinciding with Tax Professional Awareness Week, urging tax preparers to strengthen cybersecurity defenses. The alert highlights rising phishing, ransomware, and identity theft schemes targeting tax professionals who hold sensitive taxpayer data. The IRS recommends implementing multi-factor authentication, encrypting all client data, using virtual private networks

On October 16, 2026, the Internal Revenue Service (IRS) announced the commencement of Tax Professional Awareness Week, scheduled for the week of October 19, 2026. This annual initiative is designed to equip tax professionals with the latest resources, webinars, and practical tools necessary to prepare for the upcoming 2027 filing season. The program underscores the