Catch the latest trends, resources and news happening with Not for Profit in the latest issue of AICPA’s NFP News.

Businesses can begin filing tax returns electronically next week, the IRS said Tuesday.

The IRS should consider implementing an automated procedure to process Sec. 1033 replacement period extension requests for taxpayers affected by federally declared disasters, the AICPA recommended in a letter dated Monday.

The IRS released proposed regulations (REG-113515-25) providing guidance for taxpayers and lenders regarding the temporary deduction for qualified passenger vehicle loan interest.

The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 72.5 cents per mile driven, up 2.5 cents from 2025. The increased rate was effective as of Jan. 1, 2026 (Notice 2026-10).

In separate fact sheets, the IRS on Tuesday updated FAQs regarding changes to the Sec. 163(j) limitation on the deduction for business interest expense under H.R. 1, P.L. 119–21, commonly known as the One Big Beautiful Bill Act (Fact Sheet 2025-09), and FAQs related to changes to the Sec. 36(B) premium tax credit made under the legislation (Fact Sheet 2025-10).