IRS Advisory Council issues Annual Report

IR-2026-07, Jan. 14, 2026 — The Internal Revenue Service Advisory Council today issued its annual public report, offering recommendations to the IRS on a range of new and continuing issues in tax administration.

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FinCEN.gov

In Minnesota, Secretary of the Treasury Scott Bessent announced several initiatives to combat rampant government benefits fraud in Minnesota, which has wasted billions of taxpayer dollars. These initiatives are designed to strengthen and safeguard the financial system and protect Minnesota taxpayers. Secretary Bessent announced several actions taken by the U.S.

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Treasury, IRS issue proposed regulations reflecting changes from the One, Big, Beautiful Bill to the threshold for backup withholding on certain payments made through third parties

IR-2026-03, Jan. 8, 2026 — The Department of the Treasury and the Internal Revenue Service today issued proposed regulations that would revise the threshold for when certain third-party settlement organizations are required to perform backup withholding to comply with changes made in the One, Big, Beautiful Bill.

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