29/10/2025
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🗞️ Wednesday Tax News — October 29, 2025
Stay informed. Stay compliant. Stay ahead. 💼
Source: IRS Newsroom
📢 This Week’s Key IRS Updates
🧾 1️⃣ IRS reminds Tax Pros to renew PTINs for the 2026 tax season
IR-2025-108, Oct. 27, 2025 — The IRS reminds more than 800,000 paid tax preparers that Preparer Tax Identification Numbers (PTINs) must be renewed annually.
🕐 The 2026 renewal period is now open — renew early to avoid processing delays.
🔗 Learn more: irs.gov/ptin
💳 2️⃣ Form 1099-K Threshold Reverts to $20,000
IR-2025-107, Oct. 23, 2025 — The IRS issued new FAQs (Fact Sheet 2025-08) clarifying that, under the One, Big, Beautiful Bill, the Form 1099-K reporting threshold has reverted to $20,000 and 200 transactions.
📦 This impacts payment apps, online sellers, and small businesses — update your reporting systems now!
🏢 3️⃣ Employee Retention Credit (ERC) Updates
IR-2025-106, Oct. 22, 2025 — New FAQs (Fact Sheet 2025-07) explain limitations on ERC claims filed after Jan. 31, 2024, for Q3 and Q4 2021.
These provisions enhance ERC compliance and curb fraudulent claims.
🚗 4️⃣ Transition Relief for Car Loan Interest Reporting
IR-2025-105, Oct. 21, 2025 — Treasury and IRS issued Notice 2025-57, offering penalty relief and guidance for certain lenders required to report car loan interest received in 2025.
📅 5️⃣ Extended Filers Reminder
IR-2025-104, Oct. 14, 2025 — Those who filed 2024 tax extensions had until Oct. 15 to submit returns.
Even during a government funding lapse, filing and payment duties remain in effect.
📈 6️⃣ 2026 Inflation Adjustments Announced
IR-2025-103, Oct. 9, 2025 — The IRS released tax year 2026 inflation adjustments for over 60 provisions, including brackets and deductions.
See Revenue Procedure 2025-32 on irs.gov
👥 7️⃣ IRS Seeks Volunteers for VITA & TCE Programs
IR-2025-98, Oct. 1, 2025 — The IRS and community partners are recruiting volunteers for free tax assistance programs helping low-income and senior taxpayers.
Get involved: irs.gov/individuals/irs-tax-volunteers
📚 Stay Updated:
Find all current and past IRS News Releases →
👉 https://www.irs.gov/newsroom/news-releases-for-current-month
💬 Knowledge is your best tax advantage!
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