Issue Number:  2026-21

Inside This Issue

• Beware of tax credit scams targeting tribal communities
• Public comment needed on proposed regulations for certain farmland sales
• Summer Security Summit series wraps up
• Other tax news

    Beware of tax credit scams targeting tribal communities

The IRS warns taxpayers, tribal communities, businesses and tax professionals to beware of promoters selling fake “Tribal Tax Credits” that do not exist under federal law.

Some warning signs to watch out for include:

• Offers to purchase tax credits for substantially less than their value.
• Claims that only a limited number of credits are available or immediate action required.
• References to government or interagency agreements that are not publicly available.
• Provides legal opinions that cannot be verified with the attorney or law firm identified.
• Requests nondisclosure agreement signature before receipt of basic information.

Taxpayers and tribal communities can use Form 14242, Report Suspected Abusive Tax Promotions or Preparers, to report a suspected abusive tax avoidance scheme and tax return preparers who promote such schemes.

Anyone with information about tax fraud or other illegal tax-related activity can report it at IRS.gov/submitatip.

For more information about common tax schemes and scams, visit Tax Scams on IRS.gov.

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    Public comment needed on proposed regulations for certain farmland sales

Treasury and the IRS issued proposed regulations for taxpayers who sell or exchange qualified farmland property to qualified farmers can elect to pay the tax on gain in four equal annual installments. The election applies to qualifying sales or exchanges made in tax years beginning after July 4, 2025.

To qualify, the farmland must be real property located in the U.S. generally used for farming or leased to a qualified farmer for substantially or all of the 10 years before the sale or exchange in addition to other restrictions.

The proposed regulations provide guidance on eligibility requirements, installment payments and rules for partnerships, S corporations, trusts and estates. For full details see the news release.

Summit comments on the proposed regulations through www.federalregister.gov by Nov. 30, 2026.

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    Summer Security Summit series wraps up

The IRS and Security Summit partners summer series recently ended. This year’s campaign, Protect your clients; protect yourself focused on regulations requiring tax pros to protect taxpayer data. Here’s a quick recap:

• Week five: Data security reminder for tax pros
• Week four: Strengthen defenses against tax identity theft
• Week three: Tax pros need Written Information Security Plan
• Week two: Warning for tax pros to watch out for phishing emails and other attacks
• Week one: Help tax pros, protect clients from identity theft

Tax pros should contact their local IRS Stakeholder Liaison to report theft and visit the Report a Data Breach webpage for additional support in the event of a data breach.

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    Other tax news

The following information may be of interest to individuals and groups in or related to small businesses:

• New IRS app gives taxpayers a new way to access services
• IRS wraps up successful Nationwide Tax Forums with nearly 13,000 attendees
• Caring for a family member or relative? Understand the special tax rules

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