News Archive

"[I]ndividuals and businesses in parts of Missouri affected by severe storms, straight-line winds, tornadoes, and flooding that began on March 30, 2025 ... now have until March 30, 2026, to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households that reside or have a business in Bollinger, Butler, Cape Girardeau, Carter, Cooper, Douglas, Dunklin, Howell, Iron, Madison, Maries, Mississippi, New Madrid, Oregon, Ozark, Pemiscot, Reynolds, Ripley, Scott, Shannon, Ste. Genevieve, Stoddard, Texas, Vernon, Washington, Wayne, and Webster Counties qualify for tax relief."  MORE >>

• "Effective January 1, 2026, the limitation on the annual benefit under a defined benefit plan under section 415(b)(1)(A) of the Code is increased from $280,000 to $290,000....
• "The limitation under section 402(g)(1) on the exclusion for elective deferrals described in section 402(g)(3), which includes elective deferrals made to the Thrift Savings Plan, is increased from $23,500 to $24,500.
• "The limitation on deferrals under section 457(e)(15) concerning deferred compensation plans of state and local governments and tax-exempt organizations is increased from $23,500 to $24,500.
• "The limitation under section 414(v)(2)(B)(i) for catch-up contributions to an applicable employer plan other than a plan described in section 401(k)(11) or section 408(p) that generally applies for individuals aged 50 or over is increased from $7,500 to $8,000.
• "The limitation under section 414(v)(2)(E)(i) for catch-up contributions to an applicable employer plan other than a plan described in section 401(k)(11) or section 408(p) that applies for individuals who attain age 60, 61, 62, or 63 in 2026 remains $11,250.
• "The Roth catch-up wage threshold for 2025, which under section 414(v)(7)(A) is used to determine whether an individual's catch-up contributions to an applicable employer plan (other than a plan described in section 408(k) or (p)) for 2026 must be designated as Roth contributions, is increased from $145,000 to $150,000....
• "The threshold used in the definition of “highly compensated employee” under section 414(q)(1)(B) remains $160,000.
• "The threshold under section 416(i)(1)(A)(i) concerning the definition of “key employee” for top-heavy plan purposes is increased from $230,000 to $235,000.
• "The annual compensation limitation under sections 401(a)(17), 404(l), 408(k)(3)(C), and 408(k)(6)(D)(ii) is increased from $350,000 to $360,000. "

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"Use Form 4972 to figure the tax on a qualified lump-sum distribution ... you received in 2025 using the 20% capital gain election, the 10-year tax option, or both. These are special formulas used to figure a separate tax on the distribution that may result in a smaller tax than if you reported the taxable amount of the distribution as ordinary income."  MORE >>

PBGC table showing the present values applicable to benefits with annuity starting dates in 2026. A two-column spreadsheet version of the table is also available for convenient copying.   MORE >>

Rev. Dec. 2025. "What's New: [1] Updated IRA naming convention.... [2] New line 5a ... [which] directs taxpayers to add the amounts from column (a) of lines 2, 3, and 4, and enter on line 5a the portion of that sum not attributable to qualified disaster distributions."  MORE >>

"What's New: [1] Permanent credit for Achieving a Better Life Experience (ABLE) account contributions ... [2] New saver's match for qualified retirement contributions starting with 2027 tax returns filed in 2028."  MORE >>

29 pages. "What's New: [1] Social security and Medicare taxes for 2025.... [2] Moving expense reimbursements.... [3] Employer contributions to Trump accounts."  MORE >>

Rev. Dec. 2025; 86 pages. "This publication gives you the information you need to determine the tax treatment of your pension and annuity income under the General Rule.... The General Rule is one of the two methods used to figure the tax-free part of each annuity payment based on the ratio of your investment in the contract to the total expected return."  MORE >>

72 pages; Nov. 3, 2025. "Reminders: [1] Excise tax relief for certain 2024 required minimum distributions (RMDs).... [2] Income on corrective distributions of excess contributions.... [3] Modification of required distribution rules for designated beneficiaries.... [4] Simplified employee pension (SEP) and SIMPLE plans.... [5] Deemed IRAs.... [6] Statement of required minimum distribution (RMD).... [7] IRA interest.... [8] Net Investment Income Tax (NIIT). "  MORE >>

"As a result of the indexing rules under federal law, the guarantee limits for single-employer plans that terminate in 2026 will be 4.82% higher than the limits that applied for 2025."  MORE >>

"[I]ndividuals and businesses in the Lower Kuskokwim Regional Educational Attendance Area, Lower Yukon Regional Educational Attendance Area, and Northwest Arctic Borough affected by severe storms, flooding and remnants of Typhoon Halong that began on Oct. 8, 2025 ... now have until May 1, 2026, to file various federal individual and business tax returns and make tax payments."  MORE >>

PBGC has determined the premium rates applicable for plan years beginning in 2026 in accordance with the indexing rules provided in section 4006 of ERISA.  MORE >>

Fillable PDF; Oct. 24, 2025.  MORE >>

Draft as of October 24, 2025; form revision date December 2025.  MORE >>

"Social Security benefits, including Old-Age, Survivors, and Disability Insurance (OASDI), and Supplemental Security Income (SSI) payments for 75 million Americans will increase 2.8 percent in 2026.... [T]he maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $184,500 from $176,100."  [Also available: Fact Sheet which outlines all 2026 Social Security changes.]  MORE >>

Rev. Dec. 2025. "Small employer pension plan startup costs credit.... Small employer contributions credit.... Small employer military spouse participation credit."  MORE >>

"This proposed rule would permit all TSP participants (active and separated), as well spouse beneficiaries, to convert amounts in their traditional balance to amounts their Roth balance. In accordance with the Internal Revenue Code, the converted amount would be treated as a distribution from the traditional account that is taxable in the year the conversion is done."  MORE >>

73 pages. Rev. Dec. 2025; pub. Sep. 30, 2025. "What's New ... [1] Beginning in 2025, IRA references in these instructions follow a revised naming convention.... [2] Form 8915-F includes a new line 5a. This line directs taxpayers to add the amounts from column (a) of lines 2, 3, and 4, and enter on line 5a the portion of that sum not attributable to qualified disaster distributions."  MORE >>

73 pages. "The Department's primary activities during a lapse in appropriations generally will include work for agencies funded by resources other than the annual appropriations ... EBSA would cease all operations not detailed [on page 10] unless funded via previous years appropriations. Among the specific activities that would cease are our regulatory and research activities, audits, compliance assistance, and IT support not dedicated to excepted activities."  MORE >>

"Section 10301 of the Inflation Reduction Act ... provided supplemental appropriations available through September 30, 2031, for all IRS appropriations accounts. With this funding the IRS will not experience a lapse in appropriations on October 1, 2025, and normal IRS operations will continue.... The IRS Lapse in Appropriations Contingency Plan describes actions and activities for the first five [5] business days following a lapse in appropriations."  MORE >>

"These regulations reduce from $11 to $10 the amount of the user fee to apply for or renew a preparer tax identification number (PTIN) and affect individuals who apply for or renew a PTIN.... These regulations are effective on [the date published in the Federal Register, currently scheduled for Sep. 30, 2025]."  MORE >>

"On August 15, 2025, PBGC published a final rule that made improvements to its regulation on termination of single-employer plans. PBGC explained in the preamble of the final rule that it was amending the criteria majority owners must meet to waive their benefits by modifying its application of the constructive ownership rules.... PBGC is making a technical correction to clarify that individuals who are majority owners through constructive ownership must meet all of the requirements under Section 4041.21(b)(2)."  MORE >>

"With regard to whether investment management services, described in paragraph (e)(4)(iii) of the QDIA regulation, may incorporate lifetime income products and features in compliance with the regulation, it is the view of the Department that such investment alternatives can be QDIAs provided they satisfy the transferability requirements and other provisions of the regulation.... [T]he LIS program would not fail to be a QDIA solely because it is offered through a variable annuity contract with a GLWB component ... [It] is the view of the Department that the LIS program, if operating as [described], would satisfy the requirements to be a QDIA as described in paragraph (e) of the QDIA regulation."  MORE >>

"This rule amends the regulation to specify the spreads used to determine the 4044 yield curve as of the last days of October, November, and December of 2025 (i.e., the 'fourth quarter 2025 spreads'). "  MORE >>

"This annual notice provides the 2024-2025 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home, specifically [1] the special transportation industry meal and incidental expenses (M&IE) rates, [2] the rate for the incidental expenses only deduction, and [3] the rates and list of high-cost localities for purposes of the high-low substantiation method."  MORE >>