M + O = CPE Inc.

10/06/2026

The IRS recently began sending informational letters to some taxpayers about the new Saver’s Match that will begin in the 2027 tax year. See

Recently, the IRS began sending informational letters to certain taxpayers regarding the new Saver’s Match that will replace the Saver’s Credit beginning in the 2027 tax year. The letter requires no action, but it can create questions for those clients who may receive it. Beginning in 2027, the ...

09/22/2026

New York State will begin sending energy rebate checks to certain taxpayers on September 21, 2026. See

09/08/2026

The Treasury Department has issued final regulations for the car loan interest deduction, and the IRS has issued a new draft version of Form 1098-VLI. See

On September 4, 2026, the Treasury Department issued final regulations governing the deduction for car loan interest which was set forth in OBBBA. It is expected that Form 1098-VLI, Vehicle Loan Interest Statement, will be required by lenders who receive certain car loan interest during 2026. The IR...

08/18/2026

The IRS continues to promote online accounts for individuals and businesses, but those who want to set up such accounts must first have an ID.me account. See https://mocpe.com/irs-individual-and-business-accounts-and-id-me/

The IRS continues to promote the use of online IRS accounts, which are available for both individuals and businesses. Practitioners might want to recommend these accounts to certain clients. These accounts provide many useful services, such as scheduling tax payments, checking balances due, and view...

08/04/2026

Taxpayers must recognize previously-deferred gains from qualified opportunity zone investments on their 2026 income tax returns. See

As discussed on pages 61 to 64 of the Tax Year 2025 M+O=CPE Individual Tax Reference Book, taxpayers who deferred gains at any time during 2018 to 2025 by investing in qualified opportunity zones must now recognize those deferred gains on their 2026 income tax returns. As practitioners complete 2025...

07/14/2026

The IRS has announced a midyear increase in the 2026 standard mileage rate that is effective on July 1, 2026. See

The IRS has announced a midyear increase to the standard mileage allowance, which is effective on July 1, 2026. For business travel, it is 76 cents per mile for July 1, 2026, to December 31, 2026. This is up from 72.5 cents per mile, which applies for January 1, 2026, to June 30, 2026. For … Conti...

07/09/2026

The IRS has issued guidance about the gift tax considerations for the new Trump accounts. See

Recently, the IRS issued guidance about the gift tax considerations for the new Trump accounts. Trump accounts under Internal Revenue Code §530A are effective for the 2026 and later tax years and are for children under the age of 18 as of the close of the calendar year. We have discussed these acco...

06/30/2026

July 15, 2026, is the last due date for some employers to register with the New York Secure Choice mandatory requirement plan. See

As a reminder, the New York Secure Choice Program requires New York employers with 10 or more employees who do not offer a qualified retirement plan to automatically enroll their employees in this new state-sponsored retirement plan. Employers with 10 to 14 employees are required to register by July...

06/18/2026

Practitioners should annually review and update their written information security plan (WISP). See

Practitioners must annually certify that they have a written information security plan (WISP) for protecting client data when they renew their Practitioner Tax Identification Number (PTIN) each year. The IRS provides a model plan in its Publication 5708, Creating a Written Information Security Plan....

06/02/2026

The IRS has sent CP53E notices to some taxpayers in error, requesting direct deposit information even though the taxpayers filed returns that did not request refunds. See

As discussed in our post on January 29, 2026, and March 24, 2026, the IRS has been sending a CP53E notice in the mail to taxpayers who requested a refund by check when they filed their 2025 federal income tax returns. The notice requests that taxpayers provide bank account information for the direct...