IRS

The IRS has finalized the 2025 Form 8880, Credit for Qualified Retirement Savings Contributions.

The IRS released a draft 2026 Publication 15-A, Employer’s Supplemental Tax Guide (Supplement to Pub. 15, Employer’s Tax Guide). This publication, as a supplement to Publication 15, contains specialized and detailed employment tax information supplementing the basis information provided in Publication 15, including information for pensions and annuities. 

The IRS has posted another draft 2025 Form 8880, Credit for Qualified Retirement Savings Contributions.

The Internal Revenue Service has released a draft 2025 tax year Publication 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.

The Internal Revenue Service has announced the postponement of certain tax-related deadlines for North Dakota and South Dakota victims of severe storms and flooding in Sisseton-Wahpeton Oyate located in Lake Traverse Reservation until February 2, 2026.

The Internal Revenue Service has released a draft 2025 tax year Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs).

The Social Security Administration (SSA) has issued the 2026 adjustments for benefits and certain other limitations that are subject to annual cost-of-living adjustment (COLA) indices. One of these includes the increase in the Social Security taxable wage base (TWB)—the maximum amount of yearly earnings subject to Social Security taxes.

The Internal Revenue Service has issued an updated draft Form 5330, Return of Excise Taxes Related to Employee Benefit Plans.

The Internal Revenue Service has provided reporting relief from the requirement to include a code “Y” on a 2025 Form 1099-R when reporting qualified charitable distributions from an IRA. The use of the new code for 2025 is now optional. Instructions for Forms 1099-R and 5498 indicated that use of the code in 2025 was required.

The Internal Revenue Service has issued Revenue Ruling 2025-21 which contains the applicable federal rates (AFR) for November 2025.