Accounting and advisory · cited in 7 of our stories.
Proposed regulations would tax a founder's or investor's share of a foreign subsidiary's income based on how many days they held the shares, closing a planning window that let a mid-year seller escape the tax entirely.
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.
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.
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.
Notice 2025-68 spells out who can open the new children's accounts, how the $1,000 pilot deposit works, what employers may add tax-free and why most of the money will not carry tax basis.
The annual inflation update raises deferral, IRA and total contribution ceilings, and lifts to $150,000 the wage line above which catch-up contributions must go in as Roth.
The IRS's 2026 inflation adjustments raise the joint standard deduction to $32,200, hold the gift exclusion at $19,000 and set the thresholds that matter most for bracket, gifting and trust planning.
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