Plain-language notes on U.S. tax deadlines, IRS letters, cross-border reporting and running a small business, written by the CPAs who handle these questions every day.
On Wednesday, October 7, 2026, North Carolina lawmakers passed the Relief at the Pump Act to suspend the state’s 41-cent motor fuel excise tax through November 30, 2026, once the governor signs. Here is what Cary/RTP fleet owners, farmers using dyed diesel, and fuel retailers should track—returns still due, pass-through rules, and the day-after-enactment start date.
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.
IRS is mailing CP321J about the Saver’s Match starting with 2027 contributions—up to $1,000 federal match claimed on Form 8880-A in 2028. Cary/RTP compliance-planning guide.
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.
Hiring your spouse or children compliantly: real work and reasonable pay, FICA/FUTA exceptions by entity type, NC withholding, and records—subject to current IRS/NCDOR guidance.
Cash-heavy NC restaurant or salon? POS Z reports, cash deposit reconciliation, cash tip reports, Form 8300, and sales tax tie-outs—thresholds subject to current IRS/NCDOR guidance.
Hiring your first NC employee? EIN, NCDOR withholding, DES unemployment insurance, W-4/NC-4/I-9, pay frequency and payroll software, step by step—rates subject to current IRS/NCDOR guidance.
Beginning in 2026, age-50+ catch-up contributions generally must be Roth if your 2025 FICA wages from that plan sponsor exceeded $150,000. Here’s what Cary/RTP employees and plan sponsors should check before year-end payroll elections close.
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.
CP21/CP22 mean IRS already changed your return or account (math error, credit adjustment, payment transfer, and more). How to read the change table, contrast with CP2000/SNOD, and respond—Cary/RTP compliance planning.
CP2000 is an AUR proposed-adjustment notice—not a bill. Agree vs disagree, documentation, deadlines, and why silence can become an assessment—Cary/RTP compliance planning.
How to read a CP14 balance-due bill: pay-by date, installment or dispute paths, and FTP (~0.5%/month, subject to current IRS rates). Cary/RTP practical checklist.
NRNC decedents: U.S.-situs assets, the $60,000 Form 706-NA threshold, and domicile ≠ income-tax residency—family compliance education, not product sales.
How mixed-status couples use §6013(g)/(h) to treat a nonresident spouse as a resident for a joint return—worldwide income, statements, and revocation—Cary/RTP compliance planning.
F/J/M/Q exempt individuals generally file Form 8843—even with no U.S. income. Student vs teacher/trainee year limits; Austin mailing if no return. NCSU, Duke, UNC, RTP｜YCL Free Consultation.
Visa status ≠tax residency. Self-check the 31+183 weighted Substantial Presence Test, Form 8840 closer connection, and student exempt days—Cary/RTP compliance planning.
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.
On July 1, 2026, IRS removed its Delinquent FBAR Submission Procedures page—no formal announcement. With the Oct 15, 2026 automatic FBAR extension for 2025 accounts approaching, Cary/RTP clients with China/foreign accounts should plan compliance carefully.
Pay individual estimated tax online with IRS Direct Pay or an IRS Online Account, then keep the right tax year, amount, and confirmation records. This companion focuses on 1040-ES workflow rather than repeating the Direct Pay tutorial.
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.
Reconcile the four quarterly Forms 941 to Forms W-2 and W-3 before year-end filing. Compare wages, tips, and federal withholding, then document corrections with the right form.
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.
Where you sit can create withholding and filing duties in more than one state. Map work location, reciprocity, and convenience-of-employer rules—state lists marked to be verified—before you rely on a single W-2.
Form 1099-DA reports digital-asset proceeds to you and the IRS—it does not replace Form 8949 boxes G–L or Schedule D. Reconcile basis, holding period, and exceptions before you file.
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.
Calendar-year Form 1040 is generally due April 15. Form 4868 extends time to file—not to pay. Use this compliance checklist for documents, e-file, payment channels, and what to do if you cannot pay in full.
RP 2024-28 safe harbor for allocating unattached crypto basis to wallets as of Jan 1, 2025—records, 8949 alignment, and how this pairs with 1099-DA (no duplicate broker rules).
§70105 keeps §199A for 2026+, widens phase-in to $75k/$150k, and adds a conditional $400 minimum—thresholds per RP 2025-32. YCL compliance map (to be verified items flagged).
IRS Get Ready tips: organize W-2s, 1099s, credit/deduction proofs, and ID docs before you file—plus Online Account and missing-form paths. YCL bilingual SOP for Cary/RTP.
IRS Tip 2025-28: run the free Tax Withholding Estimator yearly (and after life changes), then update Form W-4 if needed—compliance pay-as-you-go for Cary/RTP W-2 households.
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.
Form 7004 can automatically extend calendar-year Forms 1065 and 1120-S from mid-March to mid-September—but it does not extend the time to pay. File a separate 7004 for each return, usually by the original due date.
IRIS is the IRS’s free Taxpayer Portal for e-filing Forms 1099 and related information returns—after you obtain an IRIS TCC. Upload CSV or enter manually (up to 100 forms per batch), and remember the 10-return electronic filing mandate.
Calendar-year S corps and partnerships e-file Forms 1120-S/1065 through MeF, with K-1s due to owners by the return due date including extensions. A rejected timely e-file may get a short perfection window—owners’ 1040 clocks do not automatically move.
An IRS Identity Protection PIN is a free six-digit code that blocks thieves from e-filing under your SSN or ITIN. The fastest enrollment path is your IRS Online Account—retrieve a new PIN each year before you file.
IRS Direct Pay lets individuals and businesses pay federal tax from a U.S. checking or savings account with no IRS fee and no login. Schedule today or up to 365 days ahead—ideal for 1040-ES and balance-due compliance.
For tax year 2026, calendar-year Form 1040-ES installments are due April 15, June 15, and September 15, 2026, and January 15, 2027. As of mid-September, the next federal date for most filers is January 15—skip it only if you file and pay the full 2026 balance by February 1, 2027.
RSUs generally create W-2 wages at vest; employers often withhold federal tax at 22%, which may be below your bracket. RTP tech workers should use Form W-4 and 1040-ES—and watch NC withholding. Compliance planning, not tax minimization tips.
DIIRSP describes normal-procedure filing of delinquent international information returns when not under exam/contact—not a penalty amnesty. IRS may still assess penalties; reasonable-cause letters may be ignored at first. Compliance planning only.
U.S. persons receiving >$100k of gifts from NRA relatives generally file Form 3520 Part IV (lower thresholds for foreign entity “gifts”). Reporting ≠ automatic wage income, but non-filing has penalties. Cary/RTP family compliance notes.
A China “JV” may be a corporation, partnership, or disregarded entity for U.S. tax. Foreign partnerships can require Form 8865 (control/10%/contribution/change categories); Cat 1/2 penalties often start at $10k/year. Classify first.
U.S. persons with China company equity may need Form 5471. CFC and 10% U.S.-shareholder tests are common triggers; §6038 penalties often start at $10k per corp per year. Cary/RTP founder compliance notes.
Form 8938 (FATCA) thresholds vary by U.S. vs abroad and single vs joint—e.g., U.S. single $50k/$75k, MFJ $100k/$150k; higher abroad. Filing 8938 ≠ FBAR. Cary/RTP compliance notes.
S corp shareholder-employees need reasonable W-2 wages before distributions. No IRS fixed percentage; zero wages with large distributions is an employment-tax red flag. Cary/RTP compliance notes.
S corp and partner K-1 income rarely has full withholding. Use reasonable W-2 withholding plus 1040-ES to meet the 90% / 100%–110% safe harbor and avoid §6654 penalties. Cary/RTP owner compliance notes.
U.S. persons with China accounts aggregating over $10k in 2025 must e-file an FBAR with FinCEN. The deadline auto-extends to Oct 15, 2026 (Thursday)—no separate request. About four weeks remain; plan compliance now.
FBAR (FinCEN 114) and Form 8938 are parallel regimes—FinCEN vs IRS, $10k vs higher thresholds. Filing one does not replace the other. Cary/RTP clients with China accounts need dual-track compliance planning.
Form 4868 moves your 2025 Form 1040 filing date to October 15, 2026—it does not extend the April payment due date. Unpaid tax generally accrues interest; a ~90% paid-by-due-date path in the Form 4868 instructions can limit failure-to-pay during the extension, but interest may still apply.
If you filed Form 4868 for your 2025 return, the federal filing deadline is generally October 15, 2026—about three and a half weeks away. Waiting on a K-1 or China account docs does not create another automatic delay; FBAR and many foreign forms often converge on the same date.
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.
FinCEN’s March 2025 interim final rule generally limits “reporting companies” to foreign entities registered to do business in the U.S.; U.S.-created companies are typically exempt from BOI filings. Foreign companies may still have to file and generally need not report U.S. beneficial owners. Recheck FinCEN FAQs before forming entities.
IRS set 2026 elective deferrals at $24,500; age-50 catch-up $8,000; ages 60–63 enhanced catch-up $11,250; IRA $7,500. Mandatory Roth catch-up for high earners is covered in our separate article—this guide is the full limits table for compliance planning.
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.
OBBBA added §4475: a 1% excise tax on certain outbound remittances after Dec. 31, 2025. Cash/money-order/cashier’s-check funding is generally taxed; withdrawals from BSA-regulated accounts or U.S.-issued debit/credit cards are generally exempt. Check how you fund China remittances.
OBBBA raised the per-issuer QSBS exclusion to $15 million for stock acquired after July 4, 2025, added 50%/75%/100% tiers at 3/4/5 years, and lifted the issuer gross-assets limit to $75 million. Cary/RTP founders and angels should plan eligibility before financing rounds.
OBBBA expanded §45B to barbering, nail care, esthetics, and body/spa treatments. W-2 employers claim on Form 8846; booth renters generally do not qualify. Beauty uses a different minimum-wage floor than restaurants.
OBBBA raised the §179 limit to $2.5 million, with phaseout beginning at $4 million of placements. North Carolina does not match federal limits—expect add-backs. Plan federal and NC books before buying equipment.
OBBBA expanded §529: from 2026 the K–12 cap is $20,000 per beneficiary across all QTPs (was $10,000), and qualified K–12 costs include curriculum, tutoring, tests, dual enrollment, and certain disability therapies. State tax treatment may differ.
OBBBA ended §25C for property placed in service after Dec. 31, 2025, and §25D for expenditures made after that date. Paying early does not save a 2026 install. Check Form 5695, invoices, and completion dates.
OBBBA ended §§30D/25E/45W for vehicles acquired after Sept. 30, 2025. Binding written contract plus payment on/before that date may still allow a credit when placed in service later. Check contracts, dealer reports, and Form 8936.
OBBBA reshapes §170 from 2026: nonitemizers may deduct up to $1,000/$2,000 MFJ of qualifying cash; itemizers face a 0.5% AGI floor; 60% cash ceiling made permanent. Plan 2025 bunching vs 2026 rules. NC pickup to be verified.
OBBBA added §530A Trump Accounts and a §6434 pilot: U.S.-citizen qualifying children born 2025–2028 with SSNs may receive a one-time $1,000 Treasury seed after Form 4547 / portal election (not before July 4, 2026). Growth-period withdrawals are generally barred. Cary/RTP newborn families should plan elections and records carefully.
OBBBA §70104: CTC up to $2,200 per qualifying child (2025), with ACTC up to about $1,700 refundable. Child and at least one MFJ spouse need work-authorized SSNs. ITIN-only children may get $500 ODC instead. Federal credit ≠ automatic NC cut.
OBBBA §70120: federal SALT cap $40,000 for 2025 ($40,400 for 2026), with 30% MAGI phasedown to a $10,000 floor; reverts in 2030. Still requires itemizing. NC mortgage interest + real estate tax remain combined-capped at $20,000 (NCDOR Q16).
OBBBA §70203: for 2025–2028, deduct up to $10,000 of qualified passenger-vehicle loan interest on a new, U.S.–finally-assembled personal vehicle financed after 2024. MAGI phase-out applies. NCDOR: does not reduce NC taxable income.
OBBBA enhanced senior deduction: up to $6,000 per person age 65+ for 2025–2028 ($12,000 if both spouses qualify), on top of the traditional age extra SD. 6% MAGI phase-out; NCDOR: does not reduce NC taxable income.
OBBBA §225: for 2025–2028, deduct the FLSA overtime *premium* only—up to $12,500 ($25,000 MFJ), with MAGI phase-out. Not the full OT check. NCDOR: does not reduce NC taxable income.
OBBBA (P.L. 119-21) added §224: deduct up to $25,000 of qualified tips for 2025–2028, with MAGI phase-out. NCDOR states the deduction does not reduce NC taxable income. Cary/RTP tipped workers should plan records and Schedule 1-A carefully.
EO 14324 suspended the $800 de minimis for all countries effective Aug 29, 2025—ACE rejects 321/Type 86; low-value goods need ACE entry and duties. SCOTUS held Feb 20, 2026 that IEEPA does not authorize tariffs—CAPE refunds (Phase 3 ~Oct 6) still matter, but 301/232 and ordinary HTS remain. Cary/RTP ecommerce & importers: compliance planning checklist.
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.
Gold Card (EO gifts $1M/$2M + USCIS I-140G $15,000/person) and H-1B cost headlines ($100k proclamation payment in litigation per USCIS; proposed $103,265 NPRM not final) are pushing high-end clients to accelerate immigrant paths. LPR status or substantial presence generally means worldwide Form 1040 reporting—pre-immigration compliance planning checklist; verify fluid fee dates against White House/USCIS/IRS.
Even with a ~$40,000 federal SALT cap, North Carolina’s Taxed PTE election (S corps / partnerships) and California’s 9.3% PTE tax can still ease individual SALT pressure via entity-level state tax and federal entity deduction. Elect on a timely return—once filed, the NC election cannot be changed. Cary/RTP owners: model before you file.
OBBBA (P.L. 119-21) permanently restores 100% bonus depreciation under §168(k) for qualified property acquired after January 19, 2025. Cary/RTP small businesses should confirm contract and placed-in-service dates before year-end CapEx—and note temporary §168(n) qualified production property.
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.
