Carry Learning Center

The IRS has issued a reminder about taxpayer rights, specifically the right to professional representation during any interaction with the tax agency. This protection, part of the Taxpayer Bill of Rights codified by Congress in 2015, allows individuals to have an authorized representative handle their tax matters on their behalf. Under this provision, taxpayers can choose [...]

The IRS announced it will extend the comment period for feedback on the draft Form 6765 instructions through March 31, 2026, to allow more time for stakeholder input on the new research and development tax credit reporting requirements. The agency also made Section G of the form optional for all filers for tax year 2025, [...]

The IRS Independent Office of Appeals announced a two-year pilot program starting October 1, 2025, intended to test changes to Post Appeals Mediation (PAM) for taxpayers with unresolved disputes. The program introduces a key structural change: cases will now be reassigned to Appeals teams with no prior connection to the underlying dispute, potentially increasing impartiality [...]

The IRS announced expanded tax relief for individuals and businesses affected by the ongoing conflict in Israel, extending certain federal filing and payment deadlines that fall within the covered period to September 30, 2026. This update, outlined in Notice 2025-53, builds on previous relief measures and provides additional time to meet tax obligations for those [...]

The Treasury Department and Internal Revenue Service have released new guidance on Qualified Opportunity Zone investments in rural areas, implementing changes from the One, Big, Beautiful Bill Act (Pub. L. 119-21) signed earlier this year. The guidance clarifies how taxpayers may qualify for tax incentives when investing in underserved rural communities through these designated economic [...]

The Internal Revenue Service announced a scheduled reduction in fees for tax professionals who prepare returns for compensation. Beginning October 16, 2025, the IRS portion of the preparer tax identification number (PTIN) fee will decrease from $11 to $10, following a biennial review by the IRS Return Preparer Office. Tax professionals will still pay a separate [...]

The Internal Revenue Service collected approximately $4.9 trillion in gross revenues during fiscal year 2022, generating about 96 percent of the funding that supports federal government operations. The report noted that collections remained strong even as the agency faced challenges from the COVID-19 pandemic, which continued to affect taxpayers and IRS operations during the year. The [...]

House Republicans have introduced legislation that would make permanent many of the individual tax provisions from the Tax Cuts and Jobs Act (TCJA) that are set to expire after 2025. The proposed bill, formally titled the “One Big Beautiful Bill,” seeks to extend the current seven-bracket tax structure, larger standard deduction, and elimination of personal [...]

The U.S. Department of Labor has issued new guidance allowing certain lifetime income investment options to serve as default investments in 401k plans. The advisory opinion, released September 23, 2025, specifically approves the AllianceBernstein Lifetime Income Strategy program as a qualified default investment alternative under federal retirement law. According to the department, the decision marks a [...]