Under IRS Notice 2026-40, gain deferred through a Qualified Opportunity Fund investment made on or before December 31, 2026 is included in income on December 31, 2026 and reported on 2026 returns with Form 8997, even if the investor has not sold. Starting January 1, 2027, OBBBA's permanent QOZ 2.0 rules bring a rolling 5-year deferral, a 10% basis increase (30% for rural funds) and newly designated zones, while proposed QOF reporting rules (REG-116506-25) face a November 5, 2026 hearing.
Under IRS TX-2026-05 (October 27, 2026), individuals and businesses in 62 Texas counties hit by the storms that began July 14, 2026, including Harris, Fort Bend, Travis and Bexar, have until February 1, 2027 for most federal returns and payments due from July 14, 2026 onward. Extended 2025 Form 1040s, Form 941 and estimated tax payments are covered, but 2025 tax due April 15, 2026 and payroll deposits are not.
On October 22, 2026, the IRS issued Rev. Proc. 2026-34, which updates EPCRS and, effective immediately, lets more 401(k), 403(b), SEP and SIMPLE IRA mistakes be self-corrected with more time to finish. Rev. Proc. 2026-33 creates ICRS, a new IRA correction program starting May 1, 2027 for custodian-caused RMD and account errors and 60-day rollover waivers, with a $3,500 IVCP user fee.
Final regulations T.D. 10060, published and effective October 19, 2026, let the IRS accept credit and debit card tax payments directly and recoup its processing costs through a non-refundable reimbursement fee. Nothing changes today—Pay1040 (1.75% credit) and ACI Payments (1.85%) are still listed—but compare card, Direct Pay and EFTPS costs before the January 15, 2027 estimated tax deadline.
The IRS's Rev. Rul. 2026-21 (posted October 16, 2026) raises November 2026 applicable federal rates to 4.67% short-term, 5.08% mid-term and 5.52% long-term, up from 4.25%, 4.61% and 5.22% in October. Families planning a loan to a child or relative should pick the term, sign and document it with the timing in mind, and check §7872 gift, imputed interest and Form 709/3520 rules.
On October 14, 2026, DOJ, the IRS and IRS-CI announced the first National Tax Enforcement Surge: actions against 76 defendants in 35 U.S. Attorneys' Offices with an estimated intended loss of more than $490 million. Charges are allegations; here is how to spot sham trusts, ITIN identity schemes and credit mills, and what to review now.
IRS Notice 2026-58, published in IRB 2026-42 on October 13, 2026, obsoletes 71 older rulings, procedures, notices and announcements—including the Form 1099-K transition notices made moot by OBBBA §70432 and capitalization rulings now covered by final regulations. It adds no new filing duty for most taxpayers, but templates, memos and checklists citing obsolete guidance should be updated.
On October 6, 2026, the IRS issued Rev. Proc. 2026-20, a safe harbor so qualifying investment and grantor trusts can stake a single proof-of-stake digital asset without that staking alone stripping trust classification—if every §6.02 requirement is met. Existing trusts have about six months after October 6, 2026 to conform; here is the compliance-planning checklist for sponsors, managers and investors.
The IRS 2026 Dirty Dozen lists misleading social-media tax advice as scam #4. A CPA myth-vs-fact guide to viral hacks—fake withholding, the bogus self-employment tax credit and Form 2439 claims—and how to fix a return that used them.
Viral posts say AI chatbots turned balances due into refunds. AI can help spot errors, but you sign the return and the IRS says the taxpayer is responsible. What IRS rules, preparer penalties and Circular 230 mean for AI-assisted filing.
On September 28, 2026 the IRS issued Rev. Rul. 2026-20, treating certain §351 ETF conversions as taxable exchanges, and Notice 2026-62, flagging other tax-aware fund strategies with possible retroactive guidance and comments due October 28, 2026. Here is a Cary/RTP checklist for RSU holders and concentrated-stock investors before signing or filing.
On October 2, 2026 the IRS issued IR-2026-119, urging MFA, unique passwords, encrypted records and scam awareness during Cybersecurity Awareness Month. Here is a Cary/RTP checklist for payroll desks, small-business owners and families heading into W-2 season.
Notice 2026-63, issued September 30, 2026, postpones certain federal deadlines for eligible affected taxpayers. Verify eligibility, the specific act and its original deadline before changing your filing calendar.
IR-2026-115 (Sept 28, 2026): Treasury/IRS proposed regs under IRC §1062 let eligible sellers pay tax on gain from qualifying U.S. farmland sales to active farmers in four equal annual installments. Cary/RTP compliance-planning guide.
IR-2026-114 (Sept 25, 2026): IRS2Go becomes the official IRS app with secure mobile access to selected Individual Online Account features. Cary/RTP taxpayers should use verified IRS links and official store listings.
IR-2026-113 closes the 2026 Nationwide Tax Forums (nearly 13,000 attendees). Cary/RTP tip/OT workers, small businesses, and digital-asset holders should prepare for the 2027 filing season themes IRS briefed to tax pros.
IRS IR-2026-111 closes Week 5 of “Protect Your Clients; Protect Yourself.” Cary/RTP taxpayers and tax pros should know phishing red flags, IP PIN, Pub 5708, Security Six, and Form 14039 reporting paths.
IRS IR-2026-112 warns that purported Tribal, Native American, or Sovereign Tribal federal tax credits do not exist. Claiming them can bring civil and criminal penalties. Cary/RTP taxpayers should know the red flags and reporting paths.
IRS FIRE retires Nov 19, 2026 at 3 p.m. ET. After Jan 1, 2027, IRIS is the only electronic system for current, prior-year, and correction information returns. Cary/RTP 1099 filers should complete the IRIS TCC application soon.
The IRS increased scrutiny of “other withholding” claims and warns about ghost preparers who omit their signature or PTIN. Keep source records, review every line, and report suspected misconduct through proper channels.
The July 4, 2025 OBBBA changed or extended many federal tax rules instead of leaving the TCJA framework to expire as previously scheduled. Details require verification.
IRS filing season usually opens in late January. Use the latest confirmed date as a planning signal, but wait for the official announcement before relying on the next season’s date.
IRS 2026 business standard mileage is 72.5 cents per mile (Jan–Jun) and 76 cents (Jul–Dec). Charity stays 14 cents. Keep a contemporaneous log—rates alone do not prove your deduction.
Federally declared disasters can postpone IRS filing and payment dates for covered counties under §7508A. Verify your locality on the IRS disaster list before you assume April 15 or October 15 still controls.
IRS Direct File—and its North Carolina state bridge—was available in the 2025 filing season but suspended for 2026. NC filers should plan separate federal Free File / software and NCDOR-approved eFile paths.
Tips/OT/car interest/senior deductions are after AGI federally; NCDOR Q14: they do not reduce NC taxable income. Standard deduction and SALT also diverge. Compliance planning.
SSA wage base: 2025 $176,100; 2026 $184,500 at 6.2% employee. High earners/RSUs fill the base faster; Medicare generally uncapped. Compliance planning.
RP 2024-40 listed TY 2025 $15,000 / $30,000; post-OBBB IR-2025-103 lists $15,750 / $31,500. NC standard deduction does not auto-follow. Compliance planning.
TY 2025 brackets: IR-2024-273 / Rev. Proc. 2024-40; TY 2026 already in IR-2025-103. Use for taxable-income and RSU withholding compliance planning—not tax-minimization tips.
California generally does not conform to the 2025 OBBBA. Residents and businesses should track separate state adjustments for SALT, 529, QSBS, research costs, bonus depreciation, and K-1 items.
U.S. custodial brokers report digital-asset dispositions on Form 1099-DA; 2025 reports often show gross proceeds while taxpayers still compute basis. Congress disapproved the DeFi broker rule. The GENIUS stablecoin law is not a tax holiday. Reconcile 1099-DAs and keep exchange/on-chain records.
EO 14247 directed Treasury to stop most paper federal disbursements from Sept. 30, 2025, including tax refunds. In the 2026 filing season, missing or rejected direct deposit can freeze a refund (CP53E). Put valid bank details on the return and open an IRS Online Account.
IRS staffing fell roughly 27–28% in 2025, straining phones and casework for 2026. Form 2848 CAF posting often takes longer; the old 5-business-day IRM target was removed. Authorize a CPA early—don’t wait until the notice deadline week.
Draft IRC §899 (“revenge tax”) was removed from the final OBBBA and never enacted. Foreign investors are not hit by that proposal’s escalating rates or Super BEAT. Chinese shareholders with U.S. holdings should still plan under existing withholding, FIRPTA, and filing rules.
For 2026, North Carolina’s individual income tax rate falls from 4.25% to 3.99% and the C-corp rate from 2.25% to 2%—verified on NCDOR rate pages. Cary/RTP employees, owners, and C corps should update withholding, estimates, and entity models. Compliance planning only.
Need proof you’re federal-tax compliant for a loan, job, or benefit? Download the IRS digitally authenticated Tax Compliance Report from your Individual Online Account—and share only the original PDF so the certificate stays intact.
NCDOR’s Sept 11 FAQs confirm North Carolina’s static conformity. Federal tips and overtime deductions generally do not reduce NC taxable income, and domestic R&E needs an 80% addback.
The IRS now offers a digitally verifiable Tax Compliance Report in the individual online account. Here is what it is, how to download it, and what to check before you share it.
