Federal Tax News

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IRS releases new look-back interest calculator for long-term contracts

IR-2026-70, May 29, 2026 — The Internal Revenue Service today announced the release of a new calculator to help businesses working on large, multi-year construction or manufacturing projects more easily figure interest related to those contracts.

Treasury, IRS issue Section 892 proposed regulations to provide grandfathering protection and transitional relief to sovereign investors

IR-2026-69, May 29, 2026 — The Department of the Treasury and the Internal Revenue Service today issued additional guidance addressing the applicability dates of recent proposed regulations under Section 892 of the Internal Revenue Code, which exempts foreign governments, including sovereign wealth funds, from tax on certain income derived from passive U.S. investments.

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

IR-2026-68, May 28, 2026 — The IRS 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.

IRS to offer Saturday hours at Taxpayer Assistance Centers May 30

IR-2026-67, May 27, 2026 — The Internal Revenue Service today announced it will offer Saturday hours at select Taxpayer Assistance Centers on May 30.

IRS CEO Frank J. Bisignano visits Ohio to tout Working Families Tax Cuts provisions on no tax on car loan interest, no tax on overtime, enhanced deduction for senior citizens

IR-2026-66, May 22, 2026 – Internal Revenue Service Chief Executive Officer Frank J. Bisignano and Senator Bernie Moreno (OH) toured the Cleveland area today to highlight Working Families Tax Cuts Act provisions on no tax on car loan interest, no tax on overtime, and the enhanced deduction for seniors.

IRS announces terms of a time-limited settlement opportunity for eligible taxpayers involved in conservation easement disputes

IR-2026-65, May 13, 2026 — The Internal Revenue Service is announcing the terms of a time-limited settlement opportunity for eligible taxpayers involved in conservation easement or historic preservation easement disputes with the IRS.

Apply for a Low Income Taxpayer Clinic grant to serve taxpayers in your community

IR-2026-64, May 6, 2026 — The Low Income Taxpayer Clinic Program today announced it will accept applications for LITC matching grants from all qualified organizations from May 6, 2026, to July 6, 2026.

IRS updates conservation easement site; settlement opportunity details forthcoming

IR-2026-63, May 6, 2026 — The Internal Revenue Service today announces updates to its Conservation Easement page, expanding information on abusive conservation easement transactions, recent court decisions, and warning signs for investors.

IRS requests applications for 2027 IRSAC membership

IR-2026-62, May 5, 2026 — The Internal Revenue Service is accepting applications for the Internal Revenue Service Advisory Council through June 5, 2026.

IRS recognizes importance of small businesses, provides helpful resources

IR-2026-61 May 5, 2026 — The Internal Revenue Service today announced a series of resources and events to support small businesses during National Small Business Week, which runs through May 9.

IRS seeking applications for Tax Counseling for the Elderly and Volunteer Income Tax Assistance program grants

IR-2026-60 May 1, 2026 — The Internal Revenue Service is now accepting applications for the Tax Counseling for the Elderly and Volunteer Income Tax Assistance grants.

News release and fact sheet archive

Find previous year news releases and fact sheets from 1997 through last month.