Section 1: IRS News Releases

IR-2026-76  ·  June 8, 2026

Oklahoma Among 27 States Enrolled in Federal Scholarship Tax Credit Program

The IRS announced that 27 states — including Oklahoma — have elected to participate in the Federal Scholarship Tax Credit (FSTC) program created by the One Big Beautiful Bill. Eligible taxpayers may claim a federal tax credit of up to $1,700 for qualified contributions to Scholarship Granting Organizations (SGOs) that provide K–12 scholarships.

What this means for your practice: Oklahoma has opted in, so your clients may be eligible for this new federal credit beginning in 2026. Practitioners should verify that SGOs their clients contribute to are on the IRS-maintained list of qualified organizations. The IRS will update the official list as states complete the required election and submission process.

IR-2026-75  ·  June 8, 2026

IRS and Security Summit Partners Announce Restructured Fraud-Prevention Framework

The IRS and its Security Summit partners announced a restructured public-private partnership to combat tax-related identity theft and fraud. The updated framework introduces five new work groups — covering pre-filing detection, threat forecasting, fraud prevention, real-time detection and reporting, and incident response — with expanded collaboration with payroll industry partners.

What this means for your practice: Identity thieves are increasingly stealing tax and financial data to file authentic-looking fraudulent returns. Practitioners should reinforce client communication about protecting SSNs and financial data, and ensure their own Written Information Security Plans (WISPs) are current.

Section 2: Oklahoma Tax Commission & State Tax News

Oklahoma State Treasurer  ·  June 2, 2026

May 2026 Revenue Report: Oklahoma Revenues Maintain Positive Growth for 9th Consecutive Month

State Treasurer Todd Russ released the May 2026 revenue report showing total monthly collections of $1.3 billion, up 2.7% year-over-year, marking the ninth consecutive month of positive 12-month growth. The rolling 12-month total reached $17.83 billion, up $951 million (5.6%) from the prior year.

What this means for your practice: Strong energy and consumer spending activity continues to support Oklahoma's fiscal position. The modest decline in income tax receipts after April's filing peak is seasonal and expected. Oklahoma's unemployment rate of 4.0% remains below the national average (4.3%), though inflation at 3.8% YoY continues to pressure clients' budgets.

Oklahoma Tax Commission  ·  June 2026

June 2026 Sales & Use Tax Collections — City and County Rates

The Oklahoma Tax Commission released the June 2026 Sales Tax News Release showing total statewide city collections of $209.3 million (up from $201.0 million in June 2025) and total county collections of $37.5 million (up from $35.4 million). The combined city and county total was $246.8 million, compared to $236.5 million a year ago — a 4.4% increase year-over-year. The report includes current tax rates and detailed collections data for every city and county in Oklahoma.

What this means for your practice: This report is a valuable resource for clients operating across multiple Oklahoma jurisdictions. Rate changes are reflected in the data; review the report if you have business clients selling into cities or counties where the rate has recently changed.

In Case You Missed It  ·  April 23, 2026

Governor Stitt Signs HB 4072: Oklahoma Taxpayer Endowment Trust Fund — Path to Zero Income Tax

Governor Kevin Stitt signed House Bill 4072, creating the Oklahoma Taxpayer Endowment Trust Fund with an initial investment of $200 million of existing state savings. Modeled after similar funds in Alaska, North Dakota, and Wyoming, the fund is structured with a lock-up period to grow the principal until investment earnings can eventually offset the need for a state income tax. Oklahoma's top income tax rate was reduced to 4.5% effective January 1, 2026, and this legislation sets a long-term structural path toward further reductions.

What this means for your practice: While elimination of the state income tax is a long-term goal, practitioners should monitor legislative developments for any accelerated rate changes that could affect tax planning for clients in future years.

Section 3: Upcoming OSEA Events

⚠ Upcoming Deadline: Act by July 10, 2026

Sooner Chapter Webinar: Recovering COVID Era Penalties and Interest — The Kwong v. United States Case

Date: Thursday, June 18, 2026

Time: 11:30 AM – 1:00 PM

Location: Online Virtual (Zoom)

CE: 1 Hour Federal Tax Law  |  IRS Course ID: FAHHB-T-00195-26-O  |  No Cost

John M. Perry III, EA, USTCP, presents on the landmark Kwong v. United States decision (U.S. Court of Claims), which holds that all tax filings, payments, and deadlines due on or after January 20, 2020 were extended until July 10, 2023. This ruling means income tax returns for 2019–2022 were effectively all due July 10, 2023 — and millions of taxpayers may be entitled to refunds or abatements of penalties and interest assessed during the COVID period. The deadline to file for these refunds is July 10, 2026. This is a time-sensitive opportunity for your clients.

OSEA Board Meeting — June 2026

Date: Thursday, June 18, 2026

Time: 3:00 PM – 4:30 PM

Location: Zoom

This is the regularly scheduled monthly board meeting of the Oklahoma Society of Enrolled Agents. All members and associates are welcome to attend.

Section 4: 2026 OSEA Annual Seminars

Northeast Oklahoma Annual Seminar

Date: October 29–30, 2026  |  Location: Northeast Oklahoma (TBD)

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

Date: November 12–13, 2026  |  Location: Oklahoma City (TBD)

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.