July 30, 2026
Advisors already place $2.2 trillion in less-liquid private capital. As that doubles, affluent investors face later tax forms, state filings and UBTI questions that public funds rarely raise.
In Prezioso v. Commissioner, the Tax Court focused less on the size of the deductions than on the pattern of concealment, from home renovations to a boat and a Ferrari lease.
Rep. Jodey Arrington's proposal would stop digital-asset investors from selling at a loss and buying right back, closing a gap that has made crypto the last easy venue for loss harvesting.
In Lewis v. Commissioner, the court rejected both the IRS's $53.4 million figure and the family's $156,000 claim, holding that state law and an avoided tax-reimbursement duty set the value.
In Beveled Edge Insurance, the court said the codified economic substance doctrine can strip a captive's tax benefits without erasing the whole arrangement, and left penalties on the table for trial.
The IRS left the estate-planning hurdle rate unchanged for a second month, a level that squeezes annuity trusts while making charitable remainder trusts and residence trusts cheaper to fund.
Automated tax-loss harvesting is nearly standard at 79% of platforms, but fewer than half offer help moving a portfolio and only 21% offer tax-smart withdrawals, Cerulli's survey shows.
Treasury adopted its 2024 proposal without change, so owners who ran a business sale through a charitable remainder annuity trust and a commercial annuity now face mandatory disclosure.
Under Automatic Exemption from Penalty, late-filing, late-payment and deposit penalties are waived during processing for taxpayers with three clean years, with no phone call or request needed.
Contributions opened July 4 and the first investments followed on July 6. Families can put in after-tax money, but growth is taxed as ordinary income once the child reaches adulthood.
Treasury said philanthropists can now transfer publicly traded stock directly into Trump Accounts, opening a new giving channel days before pledges from Michael and Susan Dell and SpaceX's Gwynne Shotwell.
Treasury opened nominations on July 1 with 25,332 eligible tracts, tighter income tests and a 30% basis step-up for rural funds, while original zones and their deferred gains run out on Dec. 31.