,

Guidance on the Permanent Expansion of Paid Family and Medical Leave

WASHINGTON — The Department of the Treasury and the Internal Revenue Service (IRS) issued Notice 2026-28 PDF, providing guidance on the employer credit for paid family and medical leave (PFML) under the Working Families Tax Cuts (WFTC). The…
,

Rules to protect refundable tax credits from abuse by illegal aliens

WASHINGTON — The Department of the Treasury and the Internal Revenue Service issued proposed regulations to apply and clarify the federal law regarding the eligibility requirements for taxpayer-funded refundable individual income tax credits,…
,

IRS launches digitally authenticated Tax Compliance Report

New report provides secure, on-demand access through IRS Individual Online Account IR-2026-97, Aug. 20, 2026 WASHINGTON — The Internal Revenue Service today announced a digitally authenticated Tax Compliance Report available through…
,

Interest rates remain the same for the fourth quarter of 2026

WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Oct. 1, 2026. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded…
WXC Corporation Miami Doral
,

IRS simplifies penalty relief, introduces automatic process for eligible taxpayers

WASHINGTON — The Internal Revenue Service today announced a new automatic process to provide penalty relief for taxpayers with a history of filing and paying on time, reducing the need for them to request assistance. The new Automatic Exemption…
WXC Corporation Miami Doral
,

Safe harbor for contributions to Trump Accounts under the Working Families Tax Cuts

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued Revenue Procedure 2026-25 PDF providing a gift tax reporting safe harbor for certain contributions to Trump accounts created under the Working Families…
WXC Corporation Doral Miami
,

U.S. States signed up to participate in the federal scholarship tax credit program

WASHINGTON — The Internal Revenue Service announced that 27 states have elected to participate in the Federal Scholarship Tax Credit (FSTC) program, which enables eligible taxpayers to claim a federal tax credit for qualified contributions…
WXC Corporation Doral Miami
,

IRS announce intent to issue proposed regulations for tax-exempt organization

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued Notice 2026-36 PDFannouncing intent to issue proposed regulations addressing the tax on excessive compensation and excess parachute payments to employees…
WXC Corporation Miami Doral
,

Taxpayers can now view and submit Trump Account elections in their IRS Individual Account

WASHINGTON — The Internal Revenue Service today announced new features in IRS Individual Accounts that allow taxpayers to view and submit Trump Account elections, making it easier to invest in these tax-advantaged accounts. Through IRS…