Resources

Representatives Jimmy Patronis (R-FL) and Gus Bilirakis (R-FL) have introduced H.R. 7393, the Save for Success Act, to allow distributions from qualified tuition programs to be used for qualified housing expenses for first-time homebuyers.

Representative Tracey Mann (R-KS) and several co-sponsors have introduced H.R. 7468, the First-Time Homebuyer Empowerment Act.

The Internal Revenue Service has posted the 2025 tax year version of Publication 970, Tax Benefits for Education.

The Internal Revenue Service has announced the postponement of certain tax-related deadlines for victims of severe storms and flooding in several areas of Montana until May 1, 2026. The tax relief postpones various tax filing deadlines that began on December 10, 2025. Affected individuals and households who reside or have a business in the Blackfeet Indian Reservation, Lincoln, and Sanders counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

The Internal Revenue Service has issued updated Form 5498-ESA, Coverdell ESA Contribution Information, and correlating instructions.

The Internal Revenue Service (IRS) has announced the postponement of certain tax-related deadlines for victims of severe storms and straight-line winds in Leech Lake Band of Ojibwe until February 2, 2026.

The Internal Revenue Service (IRS) has posted Instructions for Instructions for Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts, for 2025.

The Internal Revenue Service (IRS) has posted 2025 Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts.

The IRS has finalized the 2025 Form 8880, Credit for Qualified Retirement Savings Contributions. This form is used by taxpayers to determine the amount, if any, that can be claimed as retirement savings contribution credits (known as the saver’s credit) for making contributions to an eligible employer-sponsored retirement plan, IRA, federal Thrift Savings Plan, or ABLE account. The credit is calculated as a percentage of contributions depending on the taxpayer’s adjusted gross income, with a maximum credit of $1,000 for single filers and $2,000 for married taxpayers filing a joint return.