IRS Internal Revenue Bulletin: I.R.B. 2025-51 Released

The IRS has published its Internal Revenue Bulletin, which provides guidance on several topics, including: 1) excise tax on repurchase of corporate stock; 2) estate tax closing letter user fee; 3) allocation of foreign income taxes resulting from the repeal of section 898(c)(2), recognition of pretransition gain or loss under section 987; 4) update for weighted average interest rates, yield curves, and segment rates; and 5) the withdrawal a notice of proposed rulemaking regarding the eligibility of tax return preparers to obtain a preparer tax identification number (PTIN). [Internal Revenue Bulletin 2025-51 (Dec. 15, 2025)]

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