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Useful Links:Stakeholders Partners' Training and Upcoming EventsSeminars, Workshops, Conferences, and Other Practitioner Activities By State:Alabama Kentucky North Dakota |
Issue Number: 2025-31Inside This Issue
1. IRS Nationwide Tax Forum: Orlando and Baltimore still open Although the New Orleans and San Diego forums are sold out, registration is still open for both Orlando and Baltimore. Register now before the standard rate ends.
For more information and to register, visit IRS Nationwide Tax Forum. 2. IRS, Security Summit remind tax pros they must have a Written Information Security Plan to protect client data The IRS and its Security Summit partners reminded tax professionals about the federal mandate to have a Written Information Security Plan (WISP) designed to help protect them against threats from identity thieves and data breaches. The IRS provides resources to help with this process. In the third installment of the series "Protect Your Clients; Protect Yourself", the Security Summitt partners provide tax professionals with timely tips to help protect sensitive taxpayer data while protecting businesses from identity theft. As part of a security plan, the IRS also recommends tax professionals develop a data theft response plan, including contacting their IRS Stakeholder Liaison to report a security incident. Tax professionals can also share information with the appropriate state tax agency by visiting the Federation of Tax Administrators’ webpage: Report a Data Breach. 3. August 6 Briefing: Data Breach – Don’t Be the Next Victim! As the IRS has noticed a recent spike in reported data breaches and scams targeting tax professionals, tax professionals are invited to attend the briefing, Data Breach - Don't Be the Next Victim! The 30-minute sessions, offered several times on August 6, 2025, will focus on how to spot a scam or data breach and what to do if you are the victim of one. No registration is needed, and the presentation will be offered at the following times:
Please join by using the following Microsoft Teams link: Data Breach - Don't Be the Next Victim. To see a complete list of webinars, visit the Upcoming Webinars page on IRS.gov. 4. IRS Whistleblower Office collects $474 million based on Whistleblower Information The IRS Whistleblower Office recently released the Whistleblower Report to Congress, which included information showing a 10-year history of awards; the whistleblower claim processing flowchart, and; the average claim processing time by major process. Additionally, the report included an analysis of length of time for various claim processes; a 5-year analysis of claims built and submissions received, and; more information on administrative priorities for the Whistleblower Program. In fiscal year 2024, the Whistleblower Office made 105 awards to whistleblowers totaling more than $123 million (before sequestration). This number included 21 awards under IRC section 7623(b). Proceeds collected were over $474 million. Notice 2025-28 informs taxpayers of the intention of the Department of the Treasury and the IRS to partially withdraw proposed regulations and issue revised proposed regulations on the application of the Corporate Alternative Minimum Tax (CAMT) to applicable corporations with financial statement income (FSI) attributable to investments in partnerships. In addition, the notice provides interim guidance primarily on simplified methods to determine an applicable corporation’s adjusted financial statement income (AFSI) with respect to an investment in a partnership, reporting by partnerships of information needed to compute ASFI, and rules for partnership contributions and distributions.
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