Recent Tax News Updates for Enrolled Agents
Oklahoma Society of Enrolled Agents | June 1–7, 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-2026-71 | June 2, 2026
It's Not Too Late — Use IRS Free File Today
The IRS reminds taxpayers who missed the May filing deadline that they can still file their 2025 federal tax return at no cost through IRS Free File, available at IRS.gov through October 15. Taxpayers with adjusted gross income of $89,000 or less qualify for guided free preparation software; those above the threshold can use Free File Fillable Forms at no charge.
Practice note: Clients who have not yet filed — especially lower-income clients who may be entitled to refunds or credits — should be encouraged to file as soon as possible. Remind them that a failure-to-file penalty accrues from the original due date.
Read more →
IR-2026-73 | June 5, 2026
IRS Issues Guidance on One Big Beautiful Bill Excise Tax for Tax-Exempt Organization Executive Compensation
Treasury and the IRS issued Notice 2026-36, announcing intent to propose regulations under the One Big Beautiful Bill (OBBB) that broaden the 21% excise tax on excess executive compensation paid by applicable tax-exempt organizations (ATEOs). Under prior law, the tax applied only to the five highest-paid employees; under the OBBB, it now can apply to any employee earning more than $1 million in a year, or receiving an excess parachute payment. The notice also provides transitional relief for volunteer-service exceptions and notes that final regulations will not be retroactive to tax years before issuance.
Practice note: If you represent tax-exempt organizations — including hospitals, universities, or large nonprofits — review their compensation structures now. Comments on the notice are due by August 4, 2026.
Read more →
IR-2026-74 | June 5, 2026
IRS Releases Fiscal Year 2025 Data Book
The IRS published its annual 2025 Data Book covering agency operations during fiscal year 2025. Key highlights: the IRS processed 271.4 million returns, collecting over $5.3 trillion in revenue. Customer service representatives answered 18.6 million calls, and Taxpayer Assistance Centers served nearly 2 million taxpayers. Roughly 45% of individual returns filed during the 2026 filing season claimed at least one Working Families Tax Cuts Act benefit (no tax on tips, no tax on overtime, no tax on car loan interest, or the enhanced senior deduction), with average refunds on those returns exceeding $3,200.
Practice note: The Data Book is a useful reference for understanding IRS examination priorities and audit rates by return type. The IRS's emphasis on a "digital-first" approach and advanced analytics signals continued focus on data-driven compliance selection.
Read more →
Section 2: Oklahoma Tax Commission & State Tax News
Oklahoma State Treasurer | June 2, 2026
Oklahoma Revenues Continue Positive Growth in May — Gross Production Tax Leads
State Treasurer Todd Russ released the May 2026 State Tax Revenue Report showing total monthly revenue of $1.3 billion, up 2.7% year-over-year. Oklahoma's rolling 12-month total reached $17.83 billion, up $951 million (5.6%), marking the ninth consecutive month of positive annual growth. Key category highlights:
| Tax Category |
May 2026 |
Year-Over-Year |
| Gross Production (Oil & Gas) |
$109.9M |
+22.3% |
| Sales & Use Tax |
$599.5M |
+4.6% |
| Income Tax |
$407.1M |
-0.9% |
| Motor Vehicle Tax |
$127.4M |
-2.9% |
Oklahoma's unemployment rate held at 4.0%, below the national average of 4.3%. Inflation (CPI) increased 3.8% in April, the 13th consecutive monthly increase, driven by shelter, food, and energy costs.
Practice note: The strong gross production figures are relevant for clients in Oklahoma's oil and gas sector. The continued rise in sales tax collections signals stable consumer activity, while the slight dip in income tax reflects the normal post-filing-season pattern.
Read more →
Oklahoma Tax Commission | Released June 8, 2026
New Local Sales & Use Tax Rates Effective July 1 for Eight Oklahoma Cities
Recent update (released today, June 8): The Oklahoma Tax Commission announced updated local sales and use tax rates effective July 1, 2026 for the following municipalities:
| City |
Rate / Change |
| Carmen |
3.5% |
| South Coffeyville |
3.5% |
| Cleora |
New 2% use tax |
| Coalgate |
4% |
| Hominy |
3% |
| Olustee |
3% |
| Red Oak |
3.75% |
| Valley Brook |
4.5% |
Practice note: Business clients located in or making sales into these municipalities should update their point-of-sale systems before July 1. Verify current combined rates (state + county + city) on the OTC's Sales & Use Tax rate chart.
OTC Sales & Use Tax →
Oklahoma Tax Commission | Application Deadline Reminder
Parental Choice Tax Credit (PCTC) Applications Close June 15
Applications for the Oklahoma Parental Choice Tax Credit for the 2026–2027 school year close Monday, June 15, 2026 at 11:59 p.m. CST. The PCTC provides credits for qualifying private school tuition expenses. Over 27,000 applications were submitted on the first day of the application period.
Practice note: The deadline is this coming Monday — clients who qualify should apply immediately. Applications are submitted through the OTC's Merit International portal.
PCTC Press Release →
Section 3: Upcoming OSEA Events
Friday, June 12, 2026 | 9:00 AM – 10:00 AM | Zoom
OSEA Education Committee Meeting
This is a regular meeting of the OSEA Education Committee. All members and associates are welcome to join and provide input as we plan educational events for 2026 and beyond. Your participation helps shape the CE programming offered to Oklahoma's enrolled agent community.
Register →
Thursday, June 18, 2026 | 3:00 PM – 4:30 PM | Zoom
OSEA Board Meeting
This is the regularly scheduled monthly board meeting of the Oklahoma Society of Enrolled Agents. All members and associates are welcome to attend and observe the business of the organization.
Register →
Section 4: 2026 OSEA Annual Seminars
Northeast Oklahoma Annual Seminar — October 29–30, 2026 Up to 16 CE units covering tax law, ethics, and federal tax updates. Available in-person and virtually. Registration opens soon at eaok.org.
Oklahoma City Annual Seminar — November 12–13, 2026 Up to 16 CE units covering partnerships, IRS updates, and more. Available in-person and virtually. Registration opens soon at eaok.org.
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.
