Category: Newsletters – IRS – Company

Issue Number:  IRS Tax Tip 2026-33 

Tax return filed: Here are ways to check the status of a tax refund

Taxpayers who filed their federal tax returns and are owed a refund may be wondering about the status. There are several options for people to check.

A new feature in Individual Online Account lets taxpayers opt in to receive email notifications when there’s an update to their refund status. Taxpayers still have the option to check their refund status without signing in with Where’s my Refund?

Other ways to check refund status

• IRS mobile app
• Automated hotline- refunds: 800-829-1954 or amended returns 866-464-2050

Refund statuses are available as soon 24 hours after the current filing year tax return is e-filed. The IRS issues most refunds in less than 21 days.

In some cases, a refund could be delayed. A few reasons for this are:

• Making a common mistake. These include forgetting to sign the return or making a math error.
• Claiming the Additional Child Tax Credit. This credit can be complicated and requires more time to review.
• Failing to include bank account information for direct deposit.
• Filing an amended return. The IRS must compare the two returns as well as review both.
• Requesting injured spouse relief which requires the IRS to manually process the case.

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Issue Number:  2025-08

Inside This Issue

• IRS issues final regulations for workers who receive tips
• IRS seeks public input on remittance transfer tax under One, Big, Beautiful Bill
• Guidance available for nominating census tracts as Qualified Opportunity Zones
• Beware of fake tax deduction calculators related to the One, Big, Beautiful Bill
• IRS issues tax relief for Tennessee
• Other tax news

    IRS issues final regulations for workers who receive tips

Treasury and IRS recently issued final regulations on the “No Tax on Tips” deduction. These regulations list more than 70 occupations from tipped workers, to bartenders and water taxi operators.

Qualified tips must meet these requirements:

• Must be received from customers through a mandatory or voluntary tip-sharing arrangement
• Must be paid voluntarily by the customer and not subject to negotiation
• Doesn’t include service charges unless the customer has an option to disregard or modify the service charge

Taxpayers can only take the deduction for qualified tips included on Form W-2, Form 1099-NEC, Form 1099-MISC, Form 1099-K, or reported on Form 4137.

Gig workers and other self-employed individuals may qualify for this deduction if their job is on the approved list of tip-earning occupations and they meet the other requirements. Additionally, the new law limits the deduction for self-employed individuals to their net income.

For more information about the One, Big, Beautiful Bill, visit the provisions page on IRS.gov.

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    IRS seeks public input on remittance transfer tax under One, Big, Beautiful Bill

Treasury and the IRS recently issued guidance related to the new excise tax imposed on certain remittance transferers subject to 1% remittance transfer tax beginning Jan. 1, 2026. This tax applies when sender uses cash, money order, cashier’s check, or similar methods to send money to recipients in foreign countries.

The proposed guidance:

• Specifies which part of transaction is subject to tax
• Defines which physical payment instruments trigger the tax
• Provides examples to show how the rules apply

To report the new remittance transfer tax, use Form 720, Quarterly Federal Excise Tax Return.

Businesses and individuals should review Notice 2025-55 for guidance on limited penalty relief for remittance transfer providers who fail to deposit the correct amount during the first three quarters of 2026.

Public comments on these proposed regulations should be submitted by June 12, 2026, through Regulations.gov.

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    Guidance available for nominating census tracts as Qualified Opportunity Zones

Treasury and the IRS are providing guidance in Revenue Procedure 2026-14 for all states, the District of Columbia and U.S. Territories to nominate census tracts as Qualified Opportunity Zones. The OBBB made the QOZ tax incentive permanent. The first round of designations will be effective Jan. 1, 2027.

States can nominate eligible census tracts from July 1 – Sept. 27, 2026, and are subject to a 30-day extension.

After the nomination and selection processes are complete, the IRS will provide more guidance on which areas are designated as QOZ.

For additional information, see QOZ investments in rural areas under OBBB.

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    Beware of fake tax deduction calculators related to the One, Big, Beautiful Bill

IRS warns taxpayers of latest scam making false promises on eligibility for new tax credits and deductions due to recent provisions under OBBB. Business and individual taxpayers should be cautious when using tax deduction calculators and software online.

Guidelines when using online digital tools:

• Trust the URL: Only use sites ending in .gov for official government resources. Be wary of misspellings like irsgov.com or irs-gov.org instead of IRS.gov.
• Expect estimates, not guaranteed calculations: Legitimate calculators that provide estimates and tools that promise a big payday is likely a phishing attempt to obtain personal information.
• Stick to trusted sources: Use only official IRS website or sites of well-known, established tax software companies. Refer to One, Big, Beautiful Bill Provisions for information about new or expanded tax credits and deductions.
• Too good to be true: Be wary of calculators or websites that guarantee a big payday or an unusually large, unexpected refund.
• Don’t engage: Avoid replying, clicking on links or opening suspicious messages.

Report suspected scams using the new tool at IRS.gov/SubmitATip. This tool consolidates IRS fraud-reporting options into a centralized location. It uses clear prompts and a simplified reporting process to help ensure information is routed to the appropriate IRS office.

For more information, visit the recognize tax scams and fraud page on IRS.gov.

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    IRS issues tax relief for Tennessee

Individuals and businesses in Tennessee affected by Winter Storm Fern that began on Jan. 22, 2026, have until May 22, 2026, to file various federal individual and business tax returns and make tax payments.

The IRS automatically identifies taxpayers located in covered disaster areas and applies filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area should call the IRS Special Services toll-free number at 866-562-5227 to request this tax relief.

The Tax relief in disaster situations page on IRS.gov has the most recent tax relief info for taxpayers affected by a disaster.

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    Other tax news

The following information may be of interest to individuals and groups in or related to small businesses:

• Don’t leave a potential refund on the table
• Options for taxpayers who need help paying their tax bill
• Special Saturday hours at Taxpayer Assistance Centers nationwide April 25

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Issue Number:  IR-2026-55

Inside This Issue

IRS updates frequently asked questions about section 127 educational assistance programs

IR-2026-55, April 20, 2026

WASHINGTON – The Internal Revenue Service today updated frequently asked questions in Fact Sheet 2026-10 related to educational assistance programs.

An employee’s gross income does not include educational assistance benefits if the benefits are provided under a section 127 educational assistance program and the amounts do not exceed $5,250. Under the One, Big, Beautiful Bill, the amount that may be excluded from gross income is adjusted for increases in the cost of living for taxable years after 2026. For calendar year 2025 and 2026, you won’t have to pay any tax on the first $5,250 of those benefits and your employer should not include those benefits in your wages, tips, and other compensation shown in box 1 of your Form W-2.

These frequently asked questions contain revised information about educational assistance programs generally, including how the rules apply to certain qualified education loans. They also provide updates related to the One, Big, Beautiful Bill amendments and provide a modified sample plan. 

IRS previously issued FS-2024-22 providing answers to frequently asked questions related to educational assistance programs under section 127 of the Internal Revenue Code.

More information about reliance is available.

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Issue Number:  IR-2026-54

Inside This Issue

IRS issues Whistleblower Alert, expands efforts to uncover fraud

IR-2026-54, April 17, 2026

WASHINGTON — The Internal Revenue Service today issued a Whistleblower Alert highlighting an area of concern about misuse, diversion or fraudulent use of federal funds by tax-exempt organizations, individuals and businesses, and urged the public to provide information.

“Whistleblower Alerts are a new way for the IRS to spotlight high-risk areas and reach people who may have direct knowledge of noncompliance,” said IRS Chief Executive Officer Frank J. Bisignano. “We are expanding how we identify potential fraud, and these alerts will help connect us with individuals who can provide credible, timely information.”

The IRS Whistleblower Program offers monetary awards of up to 30% of proceeds collected based on whistleblower-provided information. Whistleblowers are encouraged to report specific, timely, and credible information about noncompliance with tax laws or other laws the IRS is authorized to administer. Whistleblowers should report what they know via Form 211, Application for Award for Original Information, at IRS.gov/SubmitATip.

The IRS Whistleblower Office intends to issue additional Whistleblower Alerts in the future as other high-risk areas emerge.

Learn more about the IRS Whistleblower Program at IRS.gov/Whistleblower.

Report identity theft, tax scams, fraud, and more at IRS.gov/SubmitATip.

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Issue Number: IRS Tax Tip 2026-32

Actions taxpayers should take if they missed April filing and payment deadline 

Taxpayers who missed the April 15 filing deadline should submit their federal tax return as soon as possible. Those who missed the deadline to file and owe taxes should file as soon as possible to avoid penalties and interest.
Requesting an extension allows for additional time to file but not to pay taxes owed. Interest and penalties will continue to accrue on the owed taxes until the balance is paid in full.
Taxpayers who still need to file for the 2025 tax year can use electronic filing options such as IRS Free File, which is available on IRS.gov through Oct. 15, 2026.

File and pay now to limit penalties and interest charges
If a taxpayer can’t afford to pay the full amount of taxes owed, they should still file a tax return and pay as much as possible. The IRS offers options for taxpayers who need help paying their tax bill. For more information, visit the Penalties page on IRS.gov.
Taxpayers may qualify for penalty relief if they have filed and paid timely for the past three years and meet other important requirements. For more information, see the Administrative penalty relief page on IRS.gov.

Online payment options
Individuals can pay taxes owed securely through IRS Online Account, IRS Direct Pay, the Electronic Federal Tax Payment System or by debit or credit card or digital wallet. Taxpayers may also apply online for a payment plan, including installment agreements. The Business Tax Account allows eligible taxpayers and their designated officials to view tax balances, make payments and see payment history.
Those who pay electronically get immediate confirmation after submitting payment. IRS Direct Pay and the EFTPS allow taxpayers to receive payment email notifications. Find additional payment information on the Make a payment page on IRS.gov.

If a refund is owed, consider filing a tax return
There’s no penalty for filing after April 15, if the IRS owes the taxpayer a refund. Taxpayers who choose not to file a tax return because they don’t earn enough to meet the filing requirement may miss out on receiving a refund due to potential refundable tax credits, such as the Earned Income Tax Credit and Child Tax Credit.

Choose a trusted tax professional
Taxpayers who have yet to file a tax return might consider getting help from a tax preparer. The IRS provides resources if they need someone to prepare a tax return. The Directory of Federal Tax Return Preparers with Credentials and Select Qualifications can help taxpayers find tax return preparers with professional certifications recognized by the IRS or who have completed the IRS requirements for the Annual Filing Season Program.

More information
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