Phyllis Jo Kubey, EA CFP ATA ATP

Important news from taxgirl

Surprise: You May Be Owed An IRS Refund For Payments Made During The Pandemic A federal court ruling could reopen the window to recover or abate penalties and interest accrued during the COVID-19 disaster. Act fast—the deadline for claims is July 10, 2026.

Super helpful chart from taxgirl!

With strict rules and limited tax benefits, Trump accounts aren’t right for every family—particularly if they’re not eligible for government or private seed contributions. They're likely best used alongside existing accounts.

I made a chart to compare how they stack up against other accounts. Here you go.

Link to article with more info here:
https://www.forbes.com/sites/kellyphillipserb/2026/01/30/is-a-trump-account-the-right-savings-plan-for-your-children/

One of my favorite giving techniques for those past age 70 1/2. And you can start making QCDs before you need to take your RMDs.

Help others and avoid paying excess tax by donating it your Required Minimum Distribution (RMD) to your favorite organization. Qualified Charitable Distributions (QCDs) can satisfy all or part of your RMD from your Individual Retirement Arrangement (IRA) and you can help a cause you're passionate about.

Learn more: at https://ow.ly/k26I50XKBCY.

Does your have employees who receive tips or work overtime? For tax year 2025, the and Treasury are giving employers penalty relief on information reporting requirements for qualified overtime and cash tips. This transition period gives more time to employers so they can update their systems or put procedures in place.

Get the latest details on this change under the One, Big, Beautiful Bill at
https://ow.ly/3pSn50XAVry.

Scary stuff here! Hopefully, this excellent article from taxgirl will help others avoid similar scams.

How One Couple Lost Their Life Savings To A Fake Federal Investigation Larry and Barbara Cook thought they were helping government agents. In the end, they found themselves victims of tax and Medicare gotchas, as well as the scamsters.

The IRS website got a refresh! (And after yesterday's hiccups, I was able to get into the TDS.)

Online accounts for individuals, businesses, and tax professionals are now featured prominently on the website.

Haven’t signed up for yours yet? With an online account, you can:

* View prior-year returns and other tax records, including your adjusted gross income, or AGI (which you’ll need for some tax software programs) and official IRS transcripts;
* Make payments, schedule future payments, enter into installment agreements, and review your payment history;
* Access or retrieve your Identity Protection PIN (IP PIN), a six-digit number that provides an extra layer of security against tax-related identity theft; and
* Authorize a tax professional, like a tax attorney, enrolled agent, or accountant, to view your tax records and talk to the IRS on your behalf without you having to sign Form 2848.

(And it's a lifesaver for tax pros.)

It's free, but you will have to verify your identity (which most commonly requires ID and a smartphone).

Head over to irs.gov for more details.

@phyllisjokubey shares how she decided to make an unexpected career shift from music to being an Enrolled Agent in episode 23 of My Enrolled Agent Career. Check the full episode out on Spotify tonight @ 8 p.m. EST! ❤️ Timalyn, America's Favorite EA

Will be a wild ride

IRS Explains How You Can Claim Your 2025 Tips And Overtime Deductions The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. IRS guidance can help figure the deductions.

What to expect from the IRS post shutdown.

IRS Has Significant Backlogs Following The Shutdown: What's Moving And What's Still Stuck The longest government shutdown in U.S. history is now over. The backlog of work, however, remains. As the IRS scrambles to get back to business as usual, expect delays.

The White House and Treasury posted the occupations eligible for “no tax on tips.” https://www.forbes.com/sites/alisondurkee/2025/09/02/whos-eligible-for-no-tax-on-tips-trumps-new-policy-set-to-include-influencers-uber-drivers-and-more/