The website of the Taxpayer Advocate Service has been suffering from technical issues for a week, sparking concerns that taxpayers and tax professionals don’t have proper access to necessary resources.

Extended Outage of Taxpayer Advocate Website Draws Concern | Tax Notes

Tax Notes is the first source of essential daily news, analysis, and commentary for tax professionals whose success depends on being trusted for their expertise.

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The Tax Court should follow the Second Circuit’s Soroban opinion — and reject the Fifth Circuit’s revised opinion in Sirius — in a limited partner case brought by billionaire hedge fund manager Steve Cohen, the IRS asserted in a new filing.

The idea of creating a universal federal savings account for children has been around for decades, but it was ultimately two Republicans who got it over the finish line. Read how a hedge fund manager spun up Trump accounts in record time: https://taxnotes.co/4AuWvXG

A Texas investment management firm is contesting the IRS’s position that it improperly deferred gains from credit default swaps that hedged deferred performance fees during the global financial crisis.

Firm Protests IRS Treatment of Credit Default Swap Gains | Tax Notes

Tax Notes is the first source of essential daily news, analysis, and commentary for tax professionals whose success depends on being trusted for their expertise.

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The IRS proposed a draft version of Form 1040 that includes a question asking taxpayers whether they were U.S. citizens at the time of filing. Read more: https://taxnotes.co/47fGU0I

The IRS was slow to raise awareness of its procedures for phasing out the use of paper checks last filing season, contributing to confusion for some taxpayers, according to an agency watchdog. Read more: https://taxnotes.co/4yI42ka

Illinois's new social media platform fee and digital advertising tax violate the U.S. Constitution and federal law, according to suits filed by a nonprofit trade organization. Read more: https://taxnotes.co/4hecPU8

More than six months after the Affordable Care Act premium enhanced tax credits expired, congressional lawmakers are no closer to advancing legislative efforts to reintroduce the popular subsidies as the 2026 midterm elections near. Read more: https://taxnotes.co/4gUOC6h

Members of the District of Columbia City Council will be considering a tax on luxury secondary homes as a way to shore up long-term funding for the District. Read more: https://taxnotes.co/4xTMdia

Tax experts are worried that President Trump’s plan to disburse a $5,000 dividend to every adult citizen in the United States would raise the budget deficit by over $1 trillion. Read more: https://taxnotes.co/46RPqCW

The IRS has spent decades and billions of dollars working to complete its CADE 2 modernization project, which has faced cost overruns and delays as well as setbacks caused by DOGE, former IRS employees say. It's unclear when the projects will be completed. Read more: https://taxnotes.co/46ltcJs

The D.C. Circuit upheld an injunction stopping the IRS from further disclosing taxpayer information related to government immigration actions, finding that its procedures likely broke the law.

IRS Scathed as Immigrant Tax Info Sharing Injunction Upheld | Tax Notes

Tax Notes is the first source of essential daily news, analysis, and commentary for tax professionals whose success depends on being trusted for their expertise.

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Treasury told a group of Democrats that it has no intention of modifying a so-called loophole providing taxpayers with a low-cost valuation method for the personal use of corporate jets. Read more: https://taxnotes.co/46wbvHn

In this #ProcedurallyTaxing perspective, Kimberly Tyson examines a case involving artificial intelligence chat logs as proof of intent, and she points out the need for taxpayers to implement AI use protocols. Read more: https://taxnotes.co/4d1Oakd

NEW: This week on Tax Notes Talk, Capitol Hill reporter @cadystanton.bsky.social previews what to expect from Congress this fall, from IRS funding to the possibility of a lame-duck tax package. 🎧 Listen wherever you get your podcasts: https://taxnotes.co/4AerhEr

Former Large Business and International Division Commissioner Holly Paz, who was pushed out of the IRS following pressure from conservatives, has joined the consulting firm Alliantgroup LP. Read more: https://taxnotes.co/4iaYyd1

Following last year’s release of the One Big Beautiful Bill Act to seemingly mixed reviews, President Trump has greenlit a sequel: tax incentives for the entertainment industry. Read more: https://taxnotes.co/4deRybs

A Utah company is pitching investors on a strategy allowing them to avoid income taxes while helping disaster victims. The deal might be too good to be true, but that isn't stopping some tax professionals from promoting it. Read the investigation in @taxnotes.com bit.ly/4gDe2E4

A Utah company is pitching investors on a strategy that promises they can avoid income taxes while helping disaster victims. The deal might be too good to be true, but that isn't stopping some tax professionals from promoting it. Read the full investigation: https://taxnotes.co/4cnTY7s

Tax Notes Investigates: A Look Inside a Tiny-Home Tax Shelter

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The levels of both mandatory and discretionary funding for the IRS face an uncertain future as Congress returns from its August recess, and the fate of the agency’s annual funding likely won’t be determined until the end of the year.

IRS Funding Up in the Air Ahead of Deadline | Tax Notes

Tax Notes is the first source of essential daily news, analysis, and commentary for tax professionals whose success depends on being trusted for their expertise.

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The denial of a section 41 research credit claim tied to Publix Super Markets’ software and food product development has led to a multimillion-dollar lawsuit with the IRS. Read more: https://taxnotes.co/4ciLcHT

Microsoft co-founder Bill Gates renewed his push for a tax on artificial intelligence tokens and robots, citing the potential impact of the industry’s rapid technology transition on the labor market. Read more: https://taxnotes.co/3STKPgl

Consumers have tolerated higher-than-usual gas prices for much of the year, but a federal gas tax holiday doesn’t appear to be coming anytime soon — even with bipartisan backing.

Gas Tax Holiday Hopes Are Running on Empty | Tax Notes

Tax Notes is the first source of essential daily news, analysis, and commentary for tax professionals whose success depends on being trusted for their expertise.

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The National Treasury Employees Union is mounting a legal challenge against the IRS’s suspension of advanced leave on the grounds that the agency lacks a Senate-confirmed leader. Read more: https://taxnotes.co/4hNYvDI

The “Taylor Swift tax” on high-dollar second homes in Rhode Island is facing its first legal challenge. Read more: https://taxnotes.co/3UfSBkZ

Tax professionals welcome the prospect of minimum standards for tax return preparers and higher penalties for bad actors but are skeptical that the measures will make a dent in fraud without proper enforcement. Read more: https://taxnotes.co/4x8noPf

Treasury and the IRS released proposed regulations targeting nonqualified immigrants’ ability to receive refunds from certain tax credits as part of the Trump administration’s immigration crackdown. Read more: https://taxnotes.co/4c19Yfp

The Justice Department is aiming to use the Fifth Circuit’s revised opinion on the limited partner exception to boost its position in a similar case, Soroban Capital Partners LP v. Commissioner, pending in the Second Circuit. Read more: https://taxnotes.co/4bWa2Nv

The possible striking down of the revenue code’s 158-year-old ban on home spirits distilling could increase revenue collection and pave the way for reviving an American pastime, according to those close to the issue. Read more: https://taxnotes.co/4gcQcig

Nana Ama Sarfo explores section 250 of the U.K.'s Crime and Policing Act and ways in which the rule expands corporate criminal liability for firms. Read more: https://www.forbes.com/sites/taxnotes/2026/08/17/raising-the-stakes-tax-firms-and-the-uk-senior-manager-attribution-rule/

Raising The Stakes: Tax Firms And The U.K. Senior Manager Attribution Rule

Nana Ama Sarfo explores section 250 of the U.K.'s Crime and Policing Act and ways in which the rule expands corporate criminal liability for firms.

forbes.com