Clean Fuel Product Credit, Taxpayer Advocate Service Annual Report to Congress; FAQ for modernizing payments; qualified overtime compensation credit and other news

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e-News for Small Business




February 10, 2026





Issue Number:  2025-03

Inside This Issue

* IRS seeks public input on proposed Clean fuel Product Credit regulations [ #First ]
* National Taxpayer Advocate delivers annual report to Congress [ #Second ]
* Modernizing payments to and from America’s bank account [ #Third ]
* FAQs address qualified overtime compensation deduction [ #Fourth ]
* Other tax news [ #Fifth ]
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*  IRS seeks public input on proposed Clean fuel Product Credit regulations*
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Proposed regulations are now available for domestic producers of clean transportation fuel to determine eligibility and calculations for Clean Fuel Product Credit. This credit provides businesses with an income tax credit for clean transportation fuel produced domestically *after Dec. 31, 2024, and sold by Dec. 31, 2029*.

Businesses are encouraged to use the Federal e-Rulemaking portal [ [link removed] ] to submit comments indicate “IRS” and “REG-121244-23.”

For more details about the changes to this credit and instructions on how to claim it see the news release [ [link removed] ] or visit the One, Big, Beautiful Bill Provisions [ [link removed] ] page on IRS.gov.

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*  National Taxpayer Advocate delivers annual report to Congress*
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National Taxpayer Advocate Erin M. Collins recently sent the 2025 Annual Report to Congress [ [link removed] ]. The report acknowledges what went well in 2025, but also highlights upcoming 2026 challenges.

The report identifies the 10 most serious problems business and individual taxpayers are experiencing when dealing with the IRS and makes administrative and legislative recommendations to address those problems.

Some key points include recommending credentials for federal tax return preparers, timely processing claims for credit or refund and providing consistent tax relief for victims of federally declared disasters.

Visit Taxpayer Advocate Service website [ [link removed] ] for more information or check out National Taxpayer Advocate blog [ [link removed] ] about key issues in tax administration.

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*  Modernizing payments to and from America’s bank account*
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Frequently asked questions [ [link removed] ] are now available to help businesses and individual taxpayers understand the changes under Executive Order 14247: Modernizing Payment to and from America’s bank account [ [link removed] ]. *The way taxpayers file their federal tax returns is not changing*.

These changes apply to payments:


* *Sent by federal government*: tax refunds, benefits, grants, and vendor or contractor payments
* *Made to federal government*: tax balances due, fees, penalties, and other payments from individuals, businesses, nonprofit organizations and state or local partners

*Business and individual taxpayers are encouraged to*:


* Use direct deposit [ [link removed] ] for refunds by providing accurate bank or prepaid debit card information when filing
* Choose electronic payment options when paying taxes, such as IRS Direct Pay, Electronic Federal Tax Payment System [ [link removed] ], or other approved methods
* Review account information to ensure bank details are current and correct
* Visit IRS.gov to learn about electronic payment [ [link removed] ]options and available resources for taxpayers without a bank account

See the news release [ [link removed] ] for more information.

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*  FAQs address qualified overtime compensation deduction*
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Frequently asked questions [ [link removed] ] are now available to help businesses and individual taxpayers understand the new deduction for qualified overtime compensation under the One, Big, Beautiful Bill

These FAQs have information about the deduction, resources to assist in determining if an individual received qualified overtime compensation, and useful information about the differences in reporting requirements for tax year 2025 and 2026-2028.

For more information, see One, Big, Beautiful Bill Provisions [ [link removed] ] on IRS.gov.

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

*Filing season information*:


* Get Ready for the filing season and save time with Tax Pro Account [ [link removed] ]
* 2026 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants [ [link removed] ]
* Use online tools when claiming One, Big, Beautiful Bill tax advantages [ [link removed] ]

*Other news*:


* EITC Awareness Day [ [link removed] ]
* 2026 funding for Low Income Taxpayer Clinic grant recipients [ [link removed] ]

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Tax Resources for Small Business

Small Business Self-Employment Center [ [link removed] ]

Small Business Forms & Instructions [ [link removed] ]

Small Business Tax Workshops, Meetings and Seminars [ [link removed] ]

Webinars for Small Businesses [ [link removed] ]

E-file Employment Tax Forms [ [link removed] ]

Businesses with Employees [ [link removed] ]

Self-Employed Individuals Tax Center [ [link removed] ]

S Corporations [ [link removed] ]

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Other Resources

IRS Home Page [ [link removed] ]

A-Z Index for Business [ [link removed] ]

Forms, Instructions & Publications [ [link removed] ]

Filing Your Taxes [ [link removed] ]

Pay Online [ [link removed] ]

Taxpayer Advocate Service [ [link removed] ]

Retirement Plans for Small Entities and Self-Employed [ [link removed] ]

Tax Information for Charities [ [link removed] ]
and Other Non-Profits [ [link removed] ]

State Government Websites [ [link removed] ]

SSA/RS Reporter [ [link removed] ]

IRS Social Media [ [link removed] ]

 







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