As enrolled agents assisting clients with federal and state tax matters, staying informed on the latest IRS and Oklahoma Tax Commission (OTC) developments is crucial. Below is a curated summary of press releases and news items from the past week, including key highlights relevant to your practice, along with direct links to the source materials.
IRS News Releases
IR-2025-111 (November 13, 2025): The IRS announced increases to retirement plan contribution limits for 2026, raising the 401(k) limit to $24,500 from $23,500 and the IRA limit to $7,500 from $7,000, enabling clients to enhance their tax-advantaged savings. Enrolled agents should review clients' retirement strategies to maximize these new limits and ensure compliance with updated withholding or contribution elections. https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500
IR-2025-112 (November 13, 2025): Interest rates for tax underpayments and overpayments will remain unchanged for the first quarter of 2026, staying at 8% for individuals and 7% for corporations, providing predictability in penalty and refund calculations. This stability allows enrolled agents to advise clients more confidently on installment agreements, estimated payments, and potential interest implications for outstanding balances. https://www.irs.gov/newsroom/interest-rates-remain-the-same-for-the-first-quarter-of-2026
Oklahoma Tax Commission News
The OTC reminded taxpayers to verify their paycheck withholding and update IRS and OTC W-4 forms for life changes like adding a new dependent, helping prevent over- or under-withholding issues. Enrolled agents can guide clients through these adjustments to align withholding with their current tax situation and minimize year-end surprises. X post: https://x.com/oktaxcommission/status/1988607818862075995
The OTC honored Veterans Day by closing offices while keeping online services operational, emphasizing the availability of digital resources for tax-related needs. This serves as a reminder for enrolled agents to encourage clients to use online portals for efficient access to forms and payments during closures. X post: https://x.com/oktaxcommission/status/1988215213041054175
The Oklahoma Society of Enrolled Agents (OSEA) is a professional organization dedicated to representing and supporting enrolled agents in Oklahoma through education, advocacy, and networking opportunities. Visit us at EAOK.orgfor more information and resources.
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As enrolled agents assisting clients with federal and state tax matters, staying informed on the latest IRS and Oklahoma Tax Commission (OTC) developments is crucial. Below is a curated summary of press releases and news items from the past week, including key highlights relevant to your practice, along with direct links to the source materials.
IRS News Releases
IR-2025-111 (November 13, 2025): The IRS announced increases to retirement plan contribution limits for 2026, raising the 401(k) limit to $24,500 from $23,500 and the IRA limit to $7,500 from $7,000, enabling clients to enhance their tax-advantaged savings. Enrolled agents should review clients' retirement strategies to maximize these new limits and ensure compliance with updated withholding or contribution elections. https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500
IR-2025-112 (November 13, 2025): Interest rates for tax underpayments and overpayments will remain unchanged for the first quarter of 2026, staying at 8% for individuals and 7% for corporations, providing predictability in penalty and refund calculations. This stability allows enrolled agents to advise clients more confidently on installment agreements, estimated payments, and potential interest implications for outstanding balances. https://www.irs.gov/newsroom/interest-rates-remain-the-same-for-the-first-quarter-of-2026
Oklahoma Tax Commission News
The OTC reminded taxpayers to verify their paycheck withholding and update IRS and OTC W-4 forms for life changes like adding a new dependent, helping prevent over- or under-withholding issues. Enrolled agents can guide clients through these adjustments to align withholding with their current tax situation and minimize year-end surprises. X post: https://x.com/oktaxcommission/status/1988607818862075995
The OTC honored Veterans Day by closing offices while keeping online services operational, emphasizing the availability of digital resources for tax-related needs. This serves as a reminder for enrolled agents to encourage clients to use online portals for efficient access to forms and payments during closures. X post: https://x.com/oktaxcommission/status/1988215213041054175
The Oklahoma Society of Enrolled Agents (OSEA) is a professional organization dedicated to representing and supporting enrolled agents in Oklahoma through education, advocacy, and networking opportunities. Visit us at EAOK.orgfor more information and resources.
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