Oklahoma Society of Enrolled Agents

Recent Tax News Updates for Enrolled Agents

June 15–21, 2026

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.

Section 1: IRS News Releases

IR-2026-77 • June 17, 2026

ETAAC 2026 Annual Report Released with 18 Recommendations to Congress and IRS

The IRS Electronic Tax Administration Advisory Committee (ETAAC) released its 2026 annual report containing 18 recommendations — six directed to Congress. Priority areas include AI and human-centered design in tax administration, digital filing and payments, sustained IRS funding, fraud prevention, and expanded authority for IRS to regulate non-credentialed tax return preparers.

Why it matters: The recommendation for IRS authority to regulate non-credentialed preparers directly affects the competitive landscape for Enrolled Agents. ETAAC's input to Congress on this issue is worth monitoring as legislative proposals develop.

IR-2026-75 • Recent update: June 8, 2026

IRS and Security Summit Partners Announce Restructured Fraud-Prevention Framework

The IRS and Security Summit partners announced a restructuring of the public-private partnership designed to strengthen taxpayer protections and enhance information sharing across the tax system — bringing together state tax agencies and the tax industry to combat identity theft and cybercrime.

Why it matters: As practitioners who handle sensitive client data, EAs should stay current on Security Summit protocols and the evolving framework for safeguarding taxpayer information. Updates to this partnership may affect firm-level data security requirements.

IR-2026-76 • Recent update: June 8, 2026

27 States Elect to Participate in New Federal Scholarship Tax Credit (FSTC) Program

The IRS announced that 27 states have elected to participate in the Federal Scholarship Tax Credit program established under the One, Big, Beautiful Bill Act. The FSTC allows eligible taxpayers to claim a federal tax credit for qualified contributions to Scholarship Granting Organizations (SGOs) that fund private elementary and secondary school scholarships.

Why it matters: Clients who contribute to qualifying SGOs in participating states may be eligible for a new federal tax credit. Practitioners should verify whether their state is among the 27 participating and review the eligibility rules for advising clients.

Section 2: Oklahoma Tax Commission & State Tax News

Oklahoma Tax Commission • June 17, 2026

Reminder: Fireworks Sales Tax Permit Required

The Oklahoma Tax Commission issued a reminder that businesses selling fireworks must obtain a Fireworks Sales Tax Permit before making sales. This is particularly relevant for clients operating seasonal fireworks stands ahead of the July 4th holiday.

Why it matters: EAs advising small business clients engaged in seasonal retail sales should ensure their clients are aware of this permit requirement to avoid penalties.

Oklahoma Tax Commission • June 15, 2026

Parental Choice Tax Credit (PCTC) Application Period Closed for 2026–2027 School Year

The OTC's application window for the Oklahoma Parental Choice Tax Credit (PCTC) for the 2026–2027 school year closed Monday, June 15, 2026 at 11:59 p.m. CST. The program provides refundable tax credits of $5,000–$7,500 per child for private school tuition expenses, with families earning under $150,000 prioritized. The program's cap was raised to $275 million for the 2026–2027 school year under HB 3705.

Why it matters: Practitioners with clients who applied should monitor their application status through OkTAP. Those who missed the window should note the next open enrollment period and plan accordingly.

Oklahoma State Treasurer • Recent update: June 2, 2026

May 2026 Oklahoma Tax Revenue Report: $1.3 Billion, Up 2.7% Year-Over-Year

State Treasurer Todd Russ released the May 2026 State Tax Revenue Report, showing total monthly gross receipts of $1.3 billion — a 2.7% increase from May 2025. Key figures include: Gross Production Tax (oil & gas) at $109.9 million, up 22.3% year-over-year; Sales & Use Tax at $599.5 million, up 4.6%; and Individual Income Tax at $407.1 million, down 0.9% following April's peak filing month. The rolling 12-month total reached $17.83 billion, up $951 million (5.6%) year-over-year — marking the ninth consecutive month of positive annual revenue growth.

Why it matters: Strong energy revenues and stable consumer spending are favorable indicators for business clients in Oklahoma. The income tax dip reflects normal post-filing-season patterns and is not a cause for concern given the strong rolling 12-month trend.

Oklahoma OMES • Recent update: June 9, 2026

May 2026 General Revenue Fund Collections 10.2% Above Monthly Estimate

The Oklahoma Office of Management and Enterprise Services (OMES) reported that General Revenue Fund (GRF) collections for May 2026 totaled $701.5 million — $64.9 million (10.2%) above the monthly estimate and $57.9 million (9%) above May 2025. Year-to-date GRF collections through 11 months of FY 2026 stand at $7.9 billion, which is $458.3 million (6.2%) above the year-to-date estimate. The State Board of Equalization met June 15 to re-certify funds available for FY 2027 appropriations.

Why it matters: Oklahoma's strong fiscal position heading into FY 2027 supports the state's ongoing tax reform initiatives, including the income tax phaseout fund. A well-funded state budget reduces the likelihood of emergency tax increases that could affect clients.

Oklahoma Governor's Office • In case you missed it: April 23, 2026

Governor Stitt Signs HB 4072: Oklahoma Taxpayer Endowment Trust Fund Created to Phase Out Income Tax

Governor Kevin Stitt signed House Bill 4072, creating the Oklahoma Taxpayer Endowment Trust Fund — seeding it with $200 million in existing state savings. The fund operates under a lockout period: withdrawals are restricted for at least 10 years or until the fund exceeds $1 billion, whichever comes first. After reaching that threshold, the board may authorize annual distributions of up to 4% of the fund's five-year average value to offset state income tax revenue, with the long-term goal of eliminating Oklahoma's personal income tax entirely.

Why it matters: While this is a long-term initiative (the trust fund must grow for at least a decade before distributions begin), EAs should be aware of this policy direction when advising clients on Oklahoma tax planning. A phaseout of state income tax would significantly change the planning landscape for Oklahoma residents and businesses.

Section 3: Upcoming OSEA Events

No OSEA events are scheduled for the next 14 days (June 23 – July 7, 2026). Our next board meeting is July 16. See the annual seminars below — early-bird pricing is currently in effect!

View all upcoming OSEA events →

Section 4: 2026 OSEA Annual Seminars

★ Early-Bird Pricing Is Currently in Effect for Both Seminars — Register Now to Lock In the Best Rate!

Bonus: Attend both the NE Oklahoma and OKC seminars and receive a $25 discount on a 2027 conference!

2026 OSEA Northeast Annual Seminar

Headliner Speakers:

Marc J. Dombrowski, EA — presenting on IRS representation topics including financial analysis, installment agreements, offers in compromise, Collection Due Process, appeals, and transcript analysis. (15 CE units combined with Jane Ryder)

Jane Ryder, EA, CPA — presenting on ethics for tax practitioners, Name/Image/Likeness income, maximizing QBI deductions, stock options, and tax planning strategies for businesses and rentals.

Additional presenters include IRS Stakeholder Liaison Mercean Lam (CE-eligible IRS topics) and Mike Kaufmann (Oklahoma Tax Updates, non-CE). Lunch is provided both days for in-person attendees. Zoom link provided one week before the event.

2026 OSEA Oklahoma City Annual Seminar

Headliner Speakers:

David L. Mellem, EA and Mary Mellem, EA — presenting 15 CE units covering Federal Tax Updates, amended returns, basis rules (gifts, inheritance, divorce), business credits, teen taxes, ethics, and bankruptcy. Their session lineup covers a wide range of practical topics with direct application to your client base.

Additional presenters include IRS Stakeholder Liaison Mercean Lam (CE-eligible) and Mike Kaufmann (Oklahoma Tax Updates, non-CE). Taxpayer Advocate Service participation is TBD. Lunch provided both days for in-person attendees. Zoom link provided one week before the event.

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.org for more information and resources.

Oklahoma Society of Enrolled Agents • EAOK.org • 501(c)(6) Non-Profit Organization