Federal Tax Day - Current, M.1, Weekly Report from Washington D.C., (Aug 24, 2026)

During the week of August 17, IRS issued proposed regulations relating to eligible investments, which are the only assets in which Trump account funds may be invested before the first day of the calendar year in which the account beneficiary reaches age 18. Further, IRS launched a digitally authenticated Tax Compliance Report available through the IRS Individual Online Account.

IRS

Proposed Regulations. The IRS issued proposed regulations relating to eligible investments, which are the only assets in which Trump account funds may be invested before the first day of the calendar year in which the account beneficiary reaches age 18, (IR 2026-96; TAXDAY, 2026/08/21, I.1).

Tax Compliance Report. The IRS launched a digitally authenticated Tax Compliance Report available through the IRS Individual Online Account, (IR 2026-97; TAXDAY, 2026/08/21, I.2).

Disaster Notice. Louisiana disaster notice was updated, (TAXDAY, 2026/08/21, I.3).

Proposed Regulations. The Treasury Department and IRS issued proposed regulations that provide that the refunded portion of certain refundable federal income tax credits, (NPRM REG-119882-25; IR 2026-93; TAXDAY, 2026/08/20, I.1).

Proposed Regulations. Treasury and the IRS proposed regulations under Code Sec. 250 tax overview that would provide guidance on a category of income excluded from the determination of deduction eligible income (DEI), (NPRM REG-117130-25; TAXDAY, 2026/08/20, I.2)

Proposed Regulations. The IRS proposed changes to the minimum funding requirements for single employer defined benefit plans to reflect legislative changes, (REG-107855-25; TAXDAY, 2026/08/20, I.3).

Tax Administration. The IRS announced a new Office of Conservation Easements to improve how conservation easement cases are handled and to provide more consistent tax administration, (IR 2026-95; TAXDAY, 2026/08/20, I.4).

Disaster Notice. West Virginia disaster notice was updated, (TAXDAY, 2026/08/20, I.5).

Client Data. The IRS and Security Summit partners reminded tax professionals to protect client data with a Written Information Security Plan, (IR 2026-92; TAXDAY, 2026/08/19, I.1).

Tech Advances. The IRS needed to find ways to better communicate how it is handling technology modernization and transformation, including in areas such as the use of artificial intelligence, (TAXDAY, 2026/08/19, I.2).

Disaster Notice. Louisiana disaster notice was updated, (TAXDAY, 2026/08/19, I.3).

Disaster Notice. The president declared a federal disaster area in State of West Virginia, (TAXDAY, 2026/08/19, I.4).

Disaster Notice. The president declared a federal disaster area in State of Northern Mariana Islands, (TAXDAY, 2026/08/19, I.5).

Disaster Notice. The president declared a federal disaster area in State of Mississippi, (TAXDAY, 2026/08/19, I.6).

Proposed Regulations. The IRS issued proposed regulations that would affect certain trusts required to report charitable contributions and amounts permanently set aside for charitable purposes, (NPRM REG-109082-25; TAXDAY, 2026/08/17, I.1).

Notice. The IRS included qualified carbon oxide in enhanced energy recovery projects and more, (Notice 2026-50; TAXDAY, 2026/08/17, I.2).

Announcement. The IRS announced corrections to Rev. Proc. 2026-18, 2026-30 I.R.B. 53, regarding the general measurements for forms printed 2-to-a-page and 3-to-a-page, (Announcement 2026-14; TAXDAY, 2026/08/17, I.3).

I.R.B. The IRS released I.R.B. 2026-34, dated August 17, 2026, (TAXDAY, 2026/08/17, I.4).