Category: Rule Changes
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IRS delays tax deadlines into 2027 for Florida, Washington, Nebraska and Guam disaster areas
Which tax deadline applies to a taxpayer in a disaster area this fall depends on the disaster, not the state. The IRS has now pushed filing and payment deadlines into 2027 for four areas: Knox County, Nebraska, to January 7; six Washington counties and three tribes to February 1; Guam to February 4; and 27…
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Treasury’s proposed rules would limit health insurance premium tax credits to citizens, nationals and certain lawfully present immigrants starting in 2027
Treasury and the Internal Revenue Service have proposed rules that would limit the premium tax credit, the subsidy that lowers monthly health insurance costs on the marketplace, to U.S. citizens, U.S. nationals and certain lawfully present noncitizens, beginning in 2027. Treasury announced the proposed regulations on October 14, and the Federal Register’s public inspection list…
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Farm and ranch households in qualifying drought counties of 49 states got more time to replace breeding, dairy and draft livestock and defer the gain
Farmers and ranchers who sold livestock because of drought now have four years, not the usual two, to replace the animals and put off paying tax on the gain. The Internal Revenue Service announced the extended relief on September 15, 2026, in release IR-2026-110, covering qualifying areas in 49 states, the District of Columbia, Puerto…
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The IRS now drops failure-to-file and failure-to-pay penalties after three clean years
Under a program the IRS scheduled to begin in summer 2026, failure-to-file, failure-to-pay and failure-to-deposit penalties are waived automatically for taxpayers with three prior years of timely compliance. The agency’s fact sheet FS-2026-12 calls the program Automatic Exemption from Penalty, or AEP, and says no application, form or separate request is needed. It replaces First…
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Washington’s wildfire tax relief runs to February 1 across six counties and three tribal nations, with Douglas County covered by a separate IRS notice
Taxpayers hit by the summer’s Washington wildfires have until February 1, 2027 to file a long list of federal returns and make many payments that would otherwise fall due sooner. The postponement covers six counties and three tribal nations named by the IRS, while a neighboring county, Douglas, is handled by a different notice with…
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An estate tax closing letter costs less if the IRS receives the request by October 26
The IRS fee for an estate tax closing letter goes from $56 to $76 for requests the agency receives after October 26, 2026. That makes a request that arrives by October 26 $20 cheaper. The higher fee is set in a Treasury decision, TD 10055, published September 25 in the Federal Register at 91 FR…
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A Trump proclamation took some Canadian products off the duty list tied to Canada’s treatment of U.S. alcoholic beverages on September 15 while leaving others on it
President Trump signed a proclamation on September 8 that took some Canadian products off the list of goods carrying an extra import duty and left the rest on it. The change applies to goods entered, or withdrawn from a warehouse, for consumption on or after 12:01 a.m. Eastern time on September 15, 2026. The duty…
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Trump’s diesel order leaves the deferred tax due later and tells Treasury to look for a way to cancel it altogether
President Trump’s Executive Order 14435, signed October 5, 2026, sets up a deferral of the federal diesel fuel excise tax, not a cut. Treasury is told to postpone payment of the tax on diesel incurred from October 5 through December 31, 2026, with no penalties or interest, if it finds it has the legal authority,…
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Cook County has scheduled a Dec. 15 tax sale for unpaid 2023 property taxes
Cook County will hold its tax sale on Dec. 15, 2026, and the properties in it are the ones with unpaid Tax Year 2023 property taxes. The Cook County Treasurer’s website lists how to avoid the December 15, 2026 tax sale and publishes lists of properties with delinquent 2023 taxes. For a homeowner in Chicago…
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Alabama’s new tax of 10 cents per milliliter on vape liquid took effect Oct. 1
Alabama began charging a state tax on vape liquid on Oct. 1, and the rate is 10 cents for every milliliter. The Alabama Department of Revenue, which collects it, calls it a state excise tax on consumable vapor products. A 30-milliliter bottle of nicotine liquid carries $3.00 of tax under that rate, by the arithmetic.…
