The Internal Revenue Service has issued proposed regulations regarding limitations on interest expense. The proposals affect some small businesses whose gross receipts are $25 million or less under provisions of the Tax Cuts and Jobs Act.

The American Institute of CPAs has proposed a method the Internal Revenue Services can use continue to send taxpayer transcripts to tax preparers. The organization’s suggestion follows the IRS' three-part plan for changing  transcript processing, which would halt maiiing transcripts to third parties next year.

The Internal Revenue Service and Security Summit are warning the public of fraudulent emails which claim to be providing information on tax transcripts. The emails are designed to entice users to open documents containing malware.