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Proposed Regulations for Trump Accounts and Form 4547

The Department of the Treasury and IRS have issued proposed regulations for opening Trump Accounts, a pro-family initiative from the One, Big, Beautiful Bill. The regulations outline requirements for eligible individuals and the responsible parties, with a deadline for opening initial accounts by December 31st of the year the eligible individual turns 17.

IRS Seeks Comments on Taxpayer Burden Surveys

The Internal Revenue Service (IRS) has published a notice in the Federal Register seeking public comments on its taxpayer burden surveys. The comment period is open until May 11, 2026. This action is part of the IRS's ongoing efforts to assess and potentially reduce the burden on taxpayers.

IRS Form 8703 Comment Request

The Internal Revenue Service (IRS) has published a notice requesting public comments on Form 8703. The comment period is open until May 11, 2026, allowing stakeholders to provide input on the information collection activity.

IRS Form 8233 Comment Request

The Internal Revenue Service (IRS) is requesting public comments on Form 8233, which relates to exemption from withholding. The comment period closes on May 11, 2026.

HMRC Call for Evidence on Business Systems Integration

HM Revenue & Customs (HMRC) has opened a call for evidence to gather views on how business systems integration can simplify record-keeping for businesses. The consultation closes on June 4, 2026, and aims to identify practical steps for government and industry.

Consultation on Extending Uncertain Tax Treatment Regime

HM Revenue & Customs has launched a consultation proposing to extend the Uncertain Tax Treatment (UTT) regime. The proposal aims to capture more legal interpretation uncertainties across various taxes and apply to wealthy individuals and trusts with tax advantages over £5 million. The consultation closes on June 4, 2026.

Company Tax Returns Consultation

HM Revenue & Customs has launched a consultation on modernising and standardising company tax returns. The consultation seeks feedback on proposed delivery timescales and enforcement mechanisms for prescribed content, format, and data tagging of Corporation Tax computations, as well as mandatory online filing of amendments. The consultation closes on June 2, 2026.