Issue Number: 2026-17Inside This Issue
Proposed regulations on employer contributions to Trump Accounts
Treasury and the IRS issued proposed regulations providing guidance for employers that choose to contribute to Trump Accounts for employees or their dependents under the Working Families Tax Cuts. The proposed regulations outline requirements for establishing and maintaining an employer Trump Account contribution program, including requirements that the program be maintained under a separate written plan and satisfy applicable nondiscrimination rules. Employers may make tax-free contributions of up to $2,500 per year to the Trump Account of an employee or an employee’s dependent. A public hearing is scheduled for Oct. 15, 2026 with requests to speak and outlines of topics due by Oct. 13, 2026. Comments about the proposed regulations are requested and should be submitted by Sept. 25, 2026. Visit trumpaccounts.gov for more information on Trump Accounts. For more information on the provisions of the new legislation, see Working Families Tax Cuts Provisions on IRS.gov. Back to Top
Guidance on Paid Family and Medical Leave under the Working Families Tax Cuts
Treasury and the IRS issued Notice 2026-28 providing guidance on employer credit for paid family and medical leave under the Working Families Tax Cuts. The permanent credit provides:
- Expanded Eligibility: claim credit for employees with six months of service and part-time employees working 20 hours or more per week.
- Expanded Coverage: claim the credit for insurance premiums to provide leave, or wages paid during leave.
- State and Local Mandates: count leave provided under state or local mandates toward the eligibility for this federal tax credit, but not toward the credit calculation.
Businesses now have greater incentives to offer up to 12 weeks of leave to employees with serious health conditions or to care for certain family members with serious health conditions. Proposed regulations consistent with this guidance will be issued. Written comments about the guidance are requested and should be submitted before Oct. 16, 2026, through Regulations.gov. Back to Top
Tax Professionals warned to watch for phishing emails scams
The IRS and Security Summit partners warn tax professionals to be wary of phishing emails and other schemes designed to steal sensitive taxpayer data. Tax professionals and businesses should remain vigilant and watch for some of the most common threats, phishing, spear phishing, clone phishing and whaling to safeguard sensitive taxpayer information. To learn more information about warning signs and possible protections from phishing scams go to Protect your clients, protect yourself at IRS.gov. Tax professionals who believe they are victims of phishing schemes or identity theft should contact their IRS Stakeholder Liaison and provide details of the incident. Tax professionals can also share information with the appropriate state tax agency by visiting the Federation of Tax Administrators Report a Data Breach page. Back to Top
Business Tax Account offers secure, convenient online tax management
The IRS announced expanded features for eligible Business Tax Account users, giving them more ways to securely access and manage their federal tax records and information online, eliminating phone calls or in office appointments. New time-saving features allow users to access an expanded library of digital IRS notices, download an EIN verification notice and submit Offer in Compromise payments. For details about eligibility, visit Business Tax Account. Back to Top
Business taxpayers can use online tools to make a payment toward their Offer in Compromise
The IRS reminds business taxpayers to review the eligibility requirements for an Offer in Compromise. Business taxpayers can submit Form 656 and Form 433-B to apply for an Offer in Compromise. The IRS will review submission and determine if they qualify. Business taxpayers can use their Business Tax Account to make OIC payments online.
For a step-by-step overview, watch this video before you begin. Back to Top
Other tax news
The following information may be of interest to individuals and groups in or related to small businesses:
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