Internal Revenue Service

Rule Changes

Co-issuing agency and administrator of tax-exempt status

The Treasury Department proposed a rule on September 3 that would end federal tax-exempt status for private schools and colleges that give students any benefit based on race. The Internal Revenue Service estimates 18,000 institutions could be affected, along with 750,000 students holding race-based scholarships.

Updated 5 days ago

Money Moves

Operating with reduced enforcement capacity

In fiscal 2024, IRS audits brought in $10 billion. In fiscal 2025, they brought in $6.5 billion—a 35% drop documented by the Treasury Inspector General for Tax Administration (TIGTA) in an August 2026 report. The decline tracks a federal workforce reduction effort that cut the agency's examination and collection staff by more than 25% in a single year.

Updated 7 days ago

Rule Changes

Will administer Saver's Match payments starting 2027

In January 2027, the federal government will start depositing up to $1,000 a year into the retirement accounts of lower-income workers. There is a problem: roughly 27 million of the workers who qualify do not have an account to put it in.

Updated May 31

Rule Changes

Implementing new OBBB tax provisions

The IRS opened the 2026 tax filing season January 26, launching the first implementation of the One Big Beautiful Bill Act, signed July 4, 2025. The law extends 2017 tax provisions set to expire December 2025 and adds deductions for tips, overtime, car loan interest, and seniors.

Updated May 26