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Article

Congress Recesses for Year with No Resolution on Tax Issues

December 18, 2025
Article

Congress Recesses for Year with No Resolution on Tax Issues

December 18, 2025

Congress adjourned without extending ACA premium tax credits or other tax priorities. Lawmakers return Jan. 6, 2026, with ACA credits expiring Dec. 31, 2025, and government funding expiring Jan. 30, 2026.

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Article

IRS Plans Proposed Rules to Address the Source of Certain Borrow Fees

December 18, 2025
Article

IRS Plans Proposed Rules to Address the Source of Certain Borrow Fees

December 18, 2025

The IRS plans to issue proposed regulations that would set out a rule under which certain borrow fees paid with respect to securities lending transactions and sale-repurchase transactions would be sourced based on the residence of the recipient.

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Article

Senate Sends Disaster Tax Relief Bill to President While New Tax Bills Advance

December 17, 2025
Article

Senate Sends Disaster Tax Relief Bill to President While New Tax Bills Advance

December 17, 2025

Congress passed H.R. 1491, the Disaster Related Extension of Deadlines Act, extending refund claim deadlines and payment periods for taxpayers affected by disasters. More bipartisan tax relief may follow in 2026.

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Article

Treasury, IRS Announce Intent to Issue Proposed Regulations on Section 898

December 17, 2025
Article

Treasury, IRS Announce Intent to Issue Proposed Regulations on Section 898

December 17, 2025

Treasury and IRS issued Notice 2025-72, announcing plans for proposed regs under OBBBA Section 70352, which repeals IRC Section 898(c)(2).

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