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IRS Written Determination: Extension of Time for Entity Classification Election

The IRS released Written Determination 202611007, granting a foreign company an extension of time to file an election to be classified as a disregarded entity for federal tax purposes. This determination provides relief under § 301.9100-3 for a late filing of Form 8832.

IRS Private Letter Ruling on Portability Election Extension

The IRS has issued Private Letter Ruling 202611006, granting an extension of time for a decedent's estate to make a portability election. This ruling allows the surviving spouse to utilize the deceased spouse's unused exclusion amount.

IRS Approves Educational Grant Procedures for Private Foundations

The IRS has approved the educational grant procedures for a private foundation under IRC Section 4945(g)(3). This approval ensures that grants awarded under these procedures will not be considered taxable expenditures for the foundation.

IRS Approves Scholarship Procedures Under IRC Section 4945(g)(1)

The IRS has approved the scholarship procedures of a private foundation under IRC Section 4945(g)(1). This approval ensures that grants made under these procedures will not be considered taxable expenditures for the foundation and may not be taxable to recipients if used for qualified expenses.

IRS Grants Substitute Mortality Tables for Pension Plans

The IRS has granted a request from a taxpayer to use substitute mortality tables for pension plans (Group B) for computations under section 430 of the Internal Revenue Code. This ruling is effective for up to 5 plan years beginning with the 2026 plan year.

IRS Ruling on Substitute Mortality Tables for Pension Plans

The IRS has granted a ruling allowing certain aggregated non-union pension plans (Group A) to use substitute mortality tables for computations under section 430 of the Internal Revenue Code. This approval is effective for up to 5 plan years beginning with the 2026 plan year.

IRS Determination on FPA Issuance and NAP Mailing Rules

The IRS has issued a determination regarding the issuance of FPA (presumably related to tax forms or filings) and rules for NAP (likely a mailing process). This guidance clarifies specific procedural requirements for taxpayers and the agency.

IRS Written Determination 202611008 - Qualified Opportunity Fund Certification Extension

The IRS has released Written Determination 202611008, granting a taxpayer an extension of time to self-certify as a Qualified Opportunity Fund (QOF) by filing Form 8996. This determination provides guidance on relief for late elections under sections 301.9100-1 and 301.9100-3.

IRS Internal Revenue Bulletin 2026-12

The IRS published Internal Revenue Bulletin 2026-12, including Notice 2026-17 and Rev. Proc. 2026-11. Notice 2026-17 announces forthcoming proposed regulations on section 987 foreign currency gain or loss, and Rev. Proc. 2026-11 provides specifications for substitute employment tax forms.

IRS Schedule 1-A for Tax Year 2025 Deductions

The IRS has published new Schedule 1-A and instructions for tax year 2025, detailing how taxpayers can claim new deductions for tips, overtime, car loans, and an enhanced deduction for seniors. These changes are part of the 'One, Big, Beautiful Bill' and aim to provide significant tax benefits to eligible individuals.