e-News for Tax Professionals 2025-47

During the 10th National Tax Security Awareness Week, the Internal Revenue Service and the Security Summit partners raised awareness about tax-related identity theft and scams as the holidays and the upcoming tax season approach.

As the IRS and the Summit partners have strengthened their systems, identity thieves have increasingly turned their attention to stealing underlying tax and financial information from taxpayers, businesses, and tax professionals in hopes of slipping authentic-looking tax returns through the defenses. The IRS and Summit partners continue to focus on combating identity thieves and their increasingly sophisticated scams.

The IRS.gov/ntsaw webpage on IRS.gov includes tips and resources, including ready-to-use articles and e-posters tax professionals can share with clients. Tax professionals can also view a recorded IRS webinar: National Tax Security Awareness Week – Real-life Threats and Steps to Protect Your Business and Your Clients.

2. Treasury, IRS Issue Guidance on Trump Accounts Established Under the Working Families Tax Cuts; Notice Announces Upcoming Regulations

The Department of the Treasury and the Internal Revenue Service issued a notice announcing upcoming regulations and providing guidance regarding Trump Accounts, which are a new type of individual retirement account (IRA) for eligible children.

Notice 2025-68 provides a general overview of how Trump Accounts work and addresses certain initial questions about creating initial and rollover Trump Accounts, the $1,000 pilot program contribution, other contributions – including qualified general contributions and section 128 employer contributions – eligible investments, distributions, reporting, and coordination with the rules applicable to other types of IRAs.

The Working Families Tax Cuts Act provides for establishing a Trump Account on behalf of every eligible child for whom an election is made, generally by a parent or guardian, and who has not turned age 18 before the end of the calendar year in which the election is made. Taxpayers cannot make contributions to Trump Accounts before July 4, 2026.

Additionally, the federal government will make a one-time $1,000 pilot program contribution to the Trump Account of each eligible child for whom an election is made, who is a U.S. citizen and who is born on or after Jan. 1, 2025, through Dec. 31, 2028.

Certain governmental entities and charities may also make qualified general contributions to Trump Accounts, if given to a qualified class of account beneficiaries. Other persons are also able to make contributions up to an aggregate limit of $5,000 per year. Furthermore, an employer may contribute to a Trump Account of the employee or the employee’s dependent up to $2,500 per year (which counts against the $5,000 annual limit) under an employer’s Trump Account contribution program, and the contribution will not count toward the employee’s taxable income. The annual contribution limits are indexed to inflation and will adjust starting after 2027.

The funds in Trump Accounts must be invested in certain mutual funds or exchange-traded funds that track the S&P 500 or another index of primarily American equities.

Amounts generally cannot be withdrawn from Trump Accounts before Jan. 1 of the calendar year in which the child turns 18 years old. After that point, the account generally is treated as a traditional IRA and generally is subject to the same rules as other traditional IRAs.

The notice addresses certain areas of interest to prospective trustees of Trump Accounts and to those individuals, such as parents and guardians, who would like to establish and/or contribute to these accounts. The notice requests comments on numerous issues related to Trump Accounts.

The IRS is posting a draft version of Form 4547, Trump Account Election(s), to Draft tax forms. When final, the new form can be used to establish a Trump Account and to enroll in the pilot program.

The IRS continues to provide updates and additional information related to the tax benefits from the Working Families Tax Cuts Act at IRS.gov.

Please visit http://trumpaccounts.gov and IRS.gov/trumpaccounts for more information on Trump Accounts.

3. IRS Webinar: Professional Conduct in Tax Practice – A Circular 230 Overview

Register now for the Internal Revenue Service webinar on “Professional Conduct in Tax Practice: A Circular 230 Overview.”

The IRS is holding the webinar on Wednesday, Dec. 17, 2025, at 2 p.m. ET (1 p.m. CT, noon AZ and MT, 11 a.m. Pacific, 10 a.m. AK, 9 a.m. HI). The session will last 120 minutes, including a live Q&A.

After completing this session, participants will be able to:

Identify key statutory and regulatory authorities underlying Circular 230 and enforcement by the IRS Office of Professional Responsibility (OPR);
Describe OPR’s mission, structure, and investigatory process;
Explain the scope and structure of Circular 230 as it governs “practice” before the IRS by “practitioners”;
Identify the key provisions of Circular 230 relating to standards of competency and due diligence expected of practitioners, and;
Locate reliable IRS and OPR resources and contact information to support continued ethical practice.

Tax professionals can earn 2 CE credits by participating in this live webinar. The category is Ethics.

This webinar will be recorded as an archival video.

The webinar is offered with closed captioning. Closed captioning displays the words that describe the audio portion of the program for viewers who are deaf or hard of hearing. Captions are available in English only.

IRS webinars can be viewed the day they air on smartphones and tablets.

Send any questions in advance of the program to [email protected].

4. 2025 Nationwide Tax Forum Online: New Features for Tax Pros – Do Business Faster and Easier with IRS Online

One highlight of the IRS Nationwide Tax Forum Online (NTFO) is the seminar, New Features for Tax Pros: Do Business Faster and Easier with IRS Online. This session explains new features in IRS online accounts that help transform the digital experience with the IRS. Tax professionals will learn about the Tax Pro Account to view their clients’ tax information, manage and submit authorizations, and make payments or create payment plans on behalf of individual clients.

All NTFO self-study seminars cost $29 each. Tax pros can earn one continuing education credit for each NTFO self-study seminar or audit a presentation for free. For more information, visit irstaxforumonline.com.

5. Technical Guidance

Notice 2025-60 sets forth the 2025 Required Amendments List (2025 RA List). The 2025 RA List applies to individually designed plans qualified under section 401(a) of the Internal Revenue Code and individually designed plans that satisfy the requirements of section 403(b). The 2025 RA List also applies to pre-approved plans with respect to interim amendments.

Notice 2025-60 will be in Internal Revenue Bulletin 2025-52, dated Dec. 22, 2025.

The IRS recently issued certifications for Rounds 1 & 2 of the Qualifying Advanced Energy Project Credit Allocation Program. Announcement 2025-22 provides the initial disclosure of each taxpayer that has been allocated a § 48C credit under Round 1 of the § 48C(e) program. Announcement 2025-23 provides the initial disclosure of each taxpayer that has been allocated a § 48C credit under Round 2 of the program. Both announcements include the amount of such credits allocated to each taxpayer, as required by § 48C(e)(7). Notice 2023-18 established the § 48C(e) program, which considers and awards certifications for qualified investments eligible for § 48C credits to qualifying advanced energy project sponsors and provided two allocation rounds. For Round 1, the IRS allocated approximately $4 billion. The IRS issued Round 1 allocation notification letters on March 29, 2024. For Round 2, the IRS allocated approximately $6 billion and issued notification letters on Jan. 10, 2025. Announcement 2025-22 is for projects certified during the period beginning on March 29, 2024, and September 30, 2025. Announcement 2025-23 is for projects certified during the period beginning on Jan. 10, 2025, and Sept. 30, 2025. The announcements also provide that the IRS will publish additional such announcements annually for certifications issued during each successive 12-month period beginning on Oct. 1, 2025.

Announcement 2025-22 and Announcement 2025-23 will be in Internal Revenue Bulletin 2025-50, dated Dec. 8, 2025.

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