National Tax Security Awareness Week, Request for public comments on a new tax credit, guidance on Trump Accounts and other tax news
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e-News for Small Business December 9, 2025
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Issue Number: 2025-21
Inside This Issue
* 10th annual National Tax Security Awareness Week begins [ #First ]
* IRS ask for public comments on new federal tax credit under One Big, Beautiful, Bill [ #Second ]
* IRS issues guidance on Trump Accounts [ #Third ]
* Other tax news [ #Fourth ]
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* 10th annual National Tax Security Awareness Week begins*
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The IRS and its Security Summit partners kickoff National Tax Security Awareness Week. This is a campaign to raise awareness about tax-related identity theft and scams as the holidays and tax season approach.
Businesses and tax pros should be extra aware of these threats:
* Social media scams [ [link removed] ]: Bad tax advice on social media can mislead taxpayers about their credit or refund eligibility. Influencers may convince taxpayers to lie on tax forms or suggest the IRS is keeping a tax credit secret from them. Social media posts may put taxpayers in touch with scammers.
* Phishing and smishing [ [link removed] ]: The IRS frequently warns against phishing emails and smishing texts, which are common tactics used by criminals to steal personal and financial information. The impersonator wants taxpayers to send them money. Opening links and attachments may harm their computer.
* Protection for seniors [ [link removed] ]: Scammers target people over age 65 or nearing retirement for personal or financial information or money. Often, once seniors give them money, they ask for more. When scammers trick them to withdraw from their retirement account, it could affect their taxes.
* Protections for businesses and tax professionals [ [link removed] ]: The IRS reminds tax professionals of their legal obligation to have a Written Information Security Plan and to use multi-factor authentication. Businesses are also advised to update their security measures and remain vigilant against cyberattacks.
* Identity Protection PIN [ [link removed] ]: An identity protection PIN is a six-digit number that prevents someone else from filing a tax return using a taxpayers Social Security number or individual taxpayer identification number. If taxpayers don't already have an IP PIN, they may get an IP PIN as a proactive step to protect themselves from tax-related identity theft. Anyone with an SSN or an ITIN can get an IP PIN including individuals living abroad.
For more information visit Security Summit [ [link removed] ].
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* IRS ask for public comments on new federal tax credit under One Big, Beautiful, Bill*
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Treasury and the IRS need public input before implementing a new tax credit [ [link removed] ] under OBBBA. This credit applies to individual contributions made to certain organizations that grant scholarships to elementary and secondary school students; particularly those from low-and middle-income families.
The IRS needs feedback from interested parties on policies and procedures implemented by States to ensure that the required certification is accurate and complete. The feedback will help the IRS design the rules in their request and identify issues that should be addressed in subsequent guidance.
The deadline to submit comments through a public portal [ [link removed] ] is Dec. 26, 2025. The tax credit will be effective Jan. 1, 2027.
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* IRS issues guidance on Trump Accounts*
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Treasury and the IRS recently announced regulations and guidance on Trump Accounts, which are a new type of individual retirement account for eligible children.
The Working Families Tax Cuts allows a Trump Account to be established on behalf of every eligible child by a parent or guardian, as long as the child doesn’t turn 18 before the end of the calendar year in which the account is established. *Contributions to Trump Accounts can’t be made before July 4, 2026*.
The federal government will make a one-time $1,000 contribution to the Trump Account of each eligible child. The child must be U.S. citizen born between Jan. 1, 2025, and Dec. 31, 2028.
An employer may contribute to a Trump Account of the employee or the employee’s dependent up to $2,500 per year. Any employer contribution counts against the $5,000 annual limit. But contribution will not count toward the employee’s taxable income.
For more information see this news release [ [link removed] ].
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* Other tax news*
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The following information may be of interest to individuals and groups in or related to small businesses:
* Don’t let grinchy scammers ruin holiday gift card giving [ [link removed] ]
* Renew Tax Preparer Identification number by December 31 [ [link removed] ]
* There are now updated FAQs for the 1099K Form [ [link removed] ]
* It’s not too early to get ready for the 2026 tax season [ [link removed] ]
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