10 IRS Programs, Forms, and Regulations You Should Know

In addition to the IRS cost-of-living adjustments, every year brings new tax laws, forms and programs. We thought we’d look at a handful of these that are relatively recent and worth knowing about.

The best in the tax prep profession know they can only deliver outstanding client service by keeping up with the latest coming out of the IRS. Clients might ask about these, and you should be ready to respond.

Score one point for each of these you already knew about!

1. IRIS (Information Returns Intake System): The IRS Information Returns Intake System (IRIS) is a modernized platform for e-filing Forms 1099, including 1099-NEC and 1099-MISC. This system simplifies the filing process by eliminating the need for FIRE credentials or third-party software, making it more accessible for tax preparers and businesses. The IRS is transitioning from the older FIRE system to IRIS, with the FIRE system set to be completely decommissioned by January 2027.
   
   
2. Form 1099-DA (Digital Asset): Form 1099-DA will be used by brokers to report digital asset transactions starting in tax year 2025. This form will cover various digital assets, including cryptocurrencies and NFTs. For the 2025 tax year, brokers are required to report gross proceeds from digital asset sales but are not mandated to report basis information. From 2026 onwards, brokers will need to report both gross proceeds and basis information for covered securities. Taxpayers with digital asset transactions in 2025 will receive the forms in early 2026.
   
   
3. TPSO (Third-Party Settlement Organization): Third-Party Settlement Organizations (TPSOs) like eBay, PayPal, Venmo, and Etsy are required to issue Form 1099-K to report payment transactions. Recent changes in reporting thresholds mean that more transactions will be reported in 2026. For 2025, TPSOs are required to report transactions totaling more than $2,500. For 2026, the reporting threshold drops to $600, which impacts many small businesses and individual sellers using these platforms.
   
   
4. Direct File: The IRS’s Direct File program allows eligible taxpayers to file their federal tax returns, at no charge, directly through an IRS web tool, bypassing the need for third-party software. This initiative aims to make tax filing more accessible and user-friendly. As of the 2025 tax filing season, 25 states are participating in the IRS Direct File program. This is an expansion from the initial 12 states that participated in the 2024 pilot.
   
   
5. Form 15397: Form 15397 "Application for Extension of Time to Furnish Recipient Statements," was introduced by the IRS in March 2025.  These statements can include Forms W-2, 1099 series, 1042-S, ACA forms, and 5498 series. Recipients of statements typically include employees, contractors, and other individuals or entities who receive payments or benefits from a business. Previously, issuers had to send written letters to request an extension, which could be cumbersome and inconsistent. The new form standardizes the information required and simplifies the submission process, ensuring that extensions are granted only under specific circumstances, such as catastrophic events or serious illness.
   
   
6. Clean Vehicle Credit – VIN Lookup Tool: The Department of Energy offers a valuable tool for tax preparers, the Clean Vehicle Credit – VIN Lookup Tool. If your client wants to claim the §30D EV credit, this tool quickly verifies vehicle eligibility based on make, model, and final assembly location, ensuring that only qualifying electric vehicles receive the credit. As vehicle eligibility criteria have become more specific, this tool helps tax preparers accurately determine which vehicles meet the requirements for the credit.
   
   
7. Digital Assets Question Form 1040: In 2024, the IRS added a new section to Form 1040, with the question, "At any time during 2024, did you: (a) receive (as a reward, award, or payment for property or services); or (b) sell, exchange, or otherwise dispose of a digital asset (or a financial interest in a digital asset)?" This line requires taxpayers to report all crypto sales, exchanges, and staking activities on Schedule D. This change reflects the growing importance of cryptocurrency in financial reporting and aims to ensure accurate tax compliance.
   
   
8. Secure 2.0: The Secure 2.0 Act of 2022 significantly changed retirement savings and contributions in 2023 and continues to bring changes for 2024 through 2026 and beyond. For 2024, it transitioned from the Saver’s Credit to the Saver’s Match and modified RMDs. For 2025–2026, it introduces automatic enrollment, expanded part-time worker eligibility, higher catch-up limits for ages 60-63, mandatory Roth catch-up contributions for high earners, and increased RMD age to 73, with reduced penalties for missed RMDs.
   
   
9. One Big Beautiful Bill Act (OBBB): This comprehensive tax reform bill, signed into law on July 4, 2025, includes a range of new provisions affecting both individual and business taxes. Key updates include the permanent increase of the State and Local Tax (SALT) deduction cap to $40,000 for taxpayers earning up to $500,000, and the introduction of new above-the-line deductions for tip income, overtime pay, and auto loan interest for certain vehicles. The Child Tax Credit has been expanded and made permanent, providing increased support for families, while a more generous senior deduction of $6,000 is available from 2025 to 2028. The 20% Qualified Business Income (QBI) deduction has also been made permanent with expanded phase-out thresholds. Additionally, energy-efficient credits for electric vehicles, hybrids, charging stations, and home improvements have been repealed starting in 2025. Lastly, the exemptions for gift, estate, and generation-skipping transfer (GST) taxes have been permanently increased to $15 million per individual, indexed for inflation.
   
   
10. e-Postcard (Form 990-N) Expansion: The expansion of the e-Postcard (Form 990-N) allows more nonprofits and exempt organizations to use this simplified form for reporting under certain thresholds. The IRS’s digitization efforts have pushed for broader adoption of this form, making it easier for smaller organizations to comply with reporting requirements, with the opening this year of a new website for submitting the form. Understanding the eligibility and requirements for using Form 990-N is essential for tax preparers working with nonprofit clients.

Leading tax pros know if they're going to serve their clients and grow their business, they need to keep up with the latest from the IRS. The changes and new programs covered here show just how fast things change in the tax world. By staying on top of these updates, you’ll be ready to handle client questions, ensure compliance, and keep your tax strategies current.

Stay informed. Subscribe to one of the many e-newsletters offered at no charge by the IRS, such as IRS e-News for tax professionals, which is offered in English and Spanish. Set up a Google alert to notify you by email when there's tax news relevant to your practice. And don't forget to take a look at some of the industry leading tax courses from Latino Tax Pro.