June 30, 2026
Retroactive to January 2026, New Jersey's FY27 budget cuts off the personal offset tied to the state's pass-through entity tax for owners with more than $1 million in income.
UBS's Global Wealth Report 2026 found the US added more new dollar millionaires than any other country, a milestone that turns first-time wealth into first-time exposure to estate and capital gains tax.
Rev. Proc. 2026-25 treats contributions as present-interest gifts eligible for the $19,000 annual exclusion, but one extra gift or a Form 709 filed for another reason can undo the relief.
With the $15 million per-person estate exemption confirmed in effect for 2026, wealthy families are funding dynasty trusts and SLATs this year rather than waiting, even without the old deadline pressure.
Giving USA's annual report found total giving topped $600 billion for the first time in 2025, with bequests growing faster than any other funding source ahead of new 2026 deduction limits.
By declining to hear Murrin v. Commissioner, the justices let stand a Third Circuit ruling that the IRS can assess tax at any time on a fraudulent return, even when only the preparer intended to cheat.
PLR 202625012 says a private foundation has no interest in family business shares until a trustee irrevocably names it, which lets relatives and the company buy stock without self-dealing.
The measure taxes residents as of January 1, 2026, values their wealth at year-end and lets payers stretch the bill over five years, at a price that reaches deep into illiquid founder stock.
The 25th How America Saves study shows record 401(k) participation and savings rates, but finds most high earners still leave mega-backdoor Roth and after-tax contribution room unused.
Second-quarter estimated payments for 2026 are due June 15. High earners with equity vests, gains or K-1 income face a stricter prior-year test, and IRS underpayment interest runs at 6% to 7%.
Gov. Dan McKee signed a $15.2 billion budget that adds one percentage point a year for three years on income above $1 million, taking the top rate from 5.99% to an effective 8.99%.
SpaceX priced the largest IPO in history at $135 a share, but the flat 22% withholding on employee RSUs falls well short of what many will actually owe.
The 2026 Trustees Report pulls the retirement trust fund's depletion forward a year and widens the 75-year gap by 16%, partly because the 2025 tax law cut revenue from taxing benefits.
The fund industry has asked Treasury for guidance on Section 351 ETF conversions after officials discussed labeling some of the deals a tax-avoidance "transaction of interest."
The IRS said 27 states have elected into the new Section 25F credit for gifts to scholarship granting organizations, a dollar-for-dollar option that compares favorably with a normal charitable deduction.
In Estate of Fields, the court upheld a $1.8 million estate tax deficiency and a negligence penalty, finding a Texas family limited partnership had no real purpose beyond an estate tax discount.
A federal judge vacated IRS Notice 2025-42 on June 6, restoring a bright-line path to begin construction, but an expected appeal leaves project owners and tax-equity investors weighing real risk.
A new notice extends the 21% excise tax on excess pay at tax-exempt organizations beyond the top five earners, a change that touches board members and major donors as much as executives.
The IRS 2025 Data Book shows audit exposure rising steeply with income, with the sharpest jump above $5 million, and about $175,000 of proposed tax per closed audit at the very top.
Capgemini's World Wealth Report 2026 found the fastest wealth growth for high-net-worth individuals since 2018, driven by equities that many households have never trimmed for taxes.
Lawmakers sent voters HJR 1-F, which would lift the non-school homestead exemption to $250,000 by 2028, cap non-homestead assessment growth at 5% and make new residents wait four years.
Anthropic's confidential IPO filing, made after a $65 billion round at a $965 billion valuation, gives current and former staff a narrowing window to settle basis, QSBS and residency questions.