Internal Revenue Bulletin 2026-02 outlines new IRS guidance on estimated tax relief, employee plan updates, HSA changes under recent legislation, PFML transition rules, and state election procedures.
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The Internal Revenue Bulletin (IRB) is the authoritative instrument for announcing official rulings and procedures of the IRS and for publishing Treasury Decisions, Executive Orders, Tax Conventions, legislation, court decisions, and other items of general interest.
ADMINISTRATIVE
Rev. Proc. 2026-7, page 316.
Areas in which rulings will not be issued, Associate Chief Counsel (International).
ADMINISTRATIVE, INCOME TAX
Notice 2026-3, page 307.
Notice 2026-3 provides relief from the additions to tax under sections 6654 and 6655 for underpayment of estimated income tax, and assists in implementing section 70437 of the One, Big, Beautiful Bill Act, which added a new limited payment deferral election in section 1062(a) applicable in the case of a sale or exchange of qualified farmland property to a qualified farmer (qualified sale or exchange). In the interest of sound tax administration, the IRS will waive a portion of the addition to tax under sections 6654 and 6655 attributable to a qualified sale or exchange for which an election under section 1062(a) (section 1062 election) is properly made. The amount of the relief depends on the amount of tax the payment of which is deferred by the section 1062 election.
EMPLOYEE PLANS
Notice 2026-2, page 304.
This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for November 2025 used under § 417(e)(3)(D), the 24-month average segment rates applicable for December 2025, and the 30-year Treasury rates, as reflected by the application of § 430(h)(2)(C)(iv).
Rev. Rul. 2026-1, page 299.
This revenue ruling provides tables of covered compensation under § 401(l)(5)(E) of the Internal Revenue Code and the Treasury Regulations thereunder, effective January 1, 2026.
EMPLOYEE PLANS, INCOME TAX
Notice 2026-5, page 309.
This notice provides guidance on changes relating to health savings accounts (HSAs) enacted by Pub. L. 119-21, 139 Stat. 72 (July 4, 2025), commonly known as the One, Big, Beautiful Bill Act (OBBBA). These changes generally expand the availability of HSAs under section 223 of the Internal Revenue Code (the Code). This notice provides answers to common questions related to these changes.
EMPLOYMENT TAX
Notice 2026-6, page 313.
Notice 2026-6 extends the transition period provided in Revenue Ruling 2025-4 for an additional year to calendar year 2026 for States administering paid family and medical leave (PFML) programs and employers participating in such programs. The Notice provides States and employers additional time to make the necessary changes to their systems to comply with the tax and information reporting responsibilities set forth in Revenue Ruling 2025-4.
INCOME TAX
Rev. Proc. 2026-6, page 314.
Rev. Proc. 2026-6 provides the exclusive procedure for a State to make an election to be a “covered state” prior to identifying scholarship granting organizations (SGOs) in the State in accordance with § 25F(g) of the Internal Revenue Code, as added by § 70411 of Public Law 119-21, 139 Stat. 72 (July 4, 2025), commonly known as the One, Big, Beautiful Bill Act (Advance Election). Pursuant to this revenue procedure, if a State chooses to make an Advance Election, the State must submit Form 15714, Advance Election to Participate Under Section 25F for 2027, in accordance with section 4 and the Form 15714 instructions, on or after January 1, 2026, and before the final date on which the State is permitted to submit the list identifying SGOs (as will be specified in future guidance