Representative Kat Cammack (R-FL) and Jim Moylan (R-GU) have introduced H.R. 7422, the Next-Generation Equity Savings Tool Act (NEST Act).

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on February 6, 2026, for winter storms in the following states.

Tennessee Severe Winter Storm, for the incident period of January 22, 2026, through January 27, 2026. 

Mississippi Severe Winter Storm, for the incident period of January 23, 2026, through January 27, 2026.

The Internal Revenue Service has posted the 2025 tax year version of Publication 970, Tax Benefits for Education.

The Internal Revenue Service has posted the 2025 tax year Instructions for Form 990-T, Exempt Organization Business Income Tax Return (and Proxy Tax Under Section 6033(e)).

The Internal Revenue Service has announced the postponement of certain tax-related deadlines for victims of severe storms and flooding in several areas of Montana until May 1, 2026.

The Internal Revenue Service has issued updated Form 5498-ESA, Coverdell ESA Contribution Information, and correlating instructions.

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on January 23 and January 24 for the following states relative to winter storms.

Representative John McGuire (R-VA) has sponsored H.R. 7185, the Home Savings Act. According to a press release, the bill would permit penalty-free withdrawals from a defined contribution plan for a down payment or closing costs on a primary residence.

The Internal Revenue Service (IRS) has issued Notice 2026-09 (the Notice), extending the deadline to complete amendments under the SECURE 2.0 Act for individual retirement arrangements (IRAs).

The Internal Revenue Service has released the 2025 tax year Publications 590-B, Distributions from Individual Retirement Arrangements (IRAs). Publication 590-B explains the rules for receiving distributions from IRAs – including inherited IRAs – and penalties and taxes that apply when rules aren’t followed.