Category: Rule Changes
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Workers’ 2026 W-2 forms, due by Feb. 1, 2027, must show reported tips and qualified overtime under new box 12 codes TP and TT
The 2026 Form W-2 adds two new codes in box 12: TP for tips and TT for overtime. Employers have to hand workers their 2026 W-2s by Feb. 1, 2027, and file them with the Social Security Administration the same day, so the first forms that separate out tips and qualified overtime reach workers early…
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Trump’s Oct. 5 diesel order gave Treasury five days to decide whether federal diesel excise taxes from Oct. 5 to Dec. 31 can be deferred without penalties or interest
President Trump signed an executive order Oct. 5 that gives the Treasury Secretary five days to decide whether the government can let businesses put off federal diesel excise taxes for the rest of 2026. As of Oct. 8, neither the IRS nor Treasury has announced that decision. The five days in the order run out…
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Storm victims in Mississippi, Wisconsin and Michigan, and typhoon victims in the Northern Mariana Islands, have until Nov. 2 to file and pay federal taxes in covered areas
Nov. 2 is the date on four separate IRS disaster notices, and it does not reach everyone in the states and territory named. Relief applies only to the counties and islands the IRS lists for each storm, and each notice starts counting from a different day. The IRS disaster relief page, last updated Sept. 16,…
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Treasury’s proposed Trump Accounts rules would enroll eligible children automatically through a master group trust, with public comments due Nov. 30
Treasury and the Internal Revenue Service want to create a Trump Account for every eligible child without the parents filling out anything first. The idea is in proposed regulations published in the Federal Register on September 30, and the government is taking public comments on them until November 30. These are proposals, not final rules.…
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An executive order directs Treasury to defer the federal excise tax on dyed diesel used on the highway through December 31, with no interest or penalties
A presidential order signed on October 5, 2026, tells the Treasury to put off a fuel tax bill for a set group of buyers. The executive order, titled Emergency Tax Relief on Diesel Fuel, covers the federal excise tax on dyed diesel used on the highway, and it sets a deferral period that runs from…
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The IRS now removes failure-to-file and failure-to-pay penalties automatically for taxpayers with three clean years, and sends a confirmation notice
Late-filing and late-payment penalties have long been the part of a tax bill that feels most avoidable in hindsight. On August 10, 2026, the Internal Revenue Service announced a process that removes some of them without anyone asking. Taxpayers with a clean three-year record can have failure-to-file and failure-to-pay penalties lifted automatically, and the agency…
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The IRS has pushed deadlines for filers in Israel, the West Bank and Gaza all the way to September 30, 2027
Taxpayers whose homes or businesses sit in Israel, the West Bank or Gaza have until September 30, 2027 to file federal returns, pay federal taxes and handle other time-sensitive tax actions. The Internal Revenue Service announced the postponement on September 30, 2026, as release IR-2026-116, with the details set out in Notice 2026-63. It is…
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Indiana’s storm filers get until February 1 to file, but the IRS says the payments that were due on April 15 are not covered
The IRS has pushed the federal tax deadline for Indiana storm victims to February 1, 2027, and the same release spells out a limit that is easy to miss: the payments that were due on April 15, 2026 are not covered. Filing relief and payment relief are not the same thing here, and the agency…
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Indiana’s disaster relief reaches 21 counties and the IRS applies it automatically by address
Marion County, which holds Indianapolis, is one of 21 Indiana counties where the Internal Revenue Service has pushed federal tax deadlines to February 1, 2027 after severe storms, straight-line winds, tornadoes and flooding that began August 11. Taxpayers in those counties do not file a form, send a letter or make a call to get…
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Indiana storm victims also get until February 1 for estimated tax payments that came due on or after August 11
The third installment of 2026 estimated federal income tax came due on September 15, and in 21 Indiana counties it did not have to be paid on that day. A self-employed worker, partner or S corporation shareholder in the area can make that payment, and the one that follows in January, as late as February…