A newly created position puts one person atop both the IRS and Social Security Administration heading into the 2026 filing season, alongside a leadership change over IRS enforcement.
Current and former staff sold stock at a $500 billion valuation with per-person payouts as high as $30 million, and how much they keep depends on what kind of equity they held.
New Treasury guidance halves the improvement threshold for rural Opportunity Zone projects and sets up a permanent program with a bigger tax break for capital gains invested outside cities.
The agency pulled back 2024 proposals that would have tightened Section 355, leaving current, more flexible law in place for owners planning to divide a closely held company.
Treasury's contingency plan says Inflation Reduction Act funding will keep all 74,300 IRS employees working through the first week of a shutdown, with no word on what happens after that.
A notice letting Dimensional Fund Advisors add an ETF share class to its mutual funds opens a structure that can cut capital-gain distributions for taxable investors industrywide.
A Georgia land deal shows how the Tax Court keeps unwinding syndicated conservation easements, this time disallowing one donor's deduction entirely and slashing the other by 98%.
Final Treasury regulations issued September 15, 2025 confirm that workers whose prior-year wages from an employer top $150,000 must make 401(k) catch-up contributions as after-tax Roth money starting in 2026.
Klarna priced its September 9, 2025 IPO above range at $40 a share, a $15.1 billion valuation, creating tax decisions for employees and early investors who can now sell newly liquid shares.
A new alternatives program brings institutional-style private market funds to ultra-wealthy clients, along with the K-1s, state filings and tax drag that come with them.
Staff at the London fintech can sell shares at $1,381.06 apiece. For US-resident employees and investors, the payout raises questions about holding periods, the 3.8% surtax and foreign tax credits.
Rev. Proc. 2025-28 lets companies with up to $31 million in gross receipts amend 2022 through 2024 returns to expense domestic research, with a July 6, 2026 deadline for the retroactive election.
In an August 2025 special session, Colorado signed bills that keep taxing income the federal One Big Beautiful Bill Act now shields, raising state bills for owners of pass-through businesses.
More than 25,000 employees left through incentive programs and 7,315 probationary workers were fired, leaving complex filers facing slower answers and a less predictable audit pipeline.
Long's exit on August 8 makes him the shortest-serving confirmed IRS commissioner and leaves Treasury Secretary Scott Bessent running an agency that has lost about a quarter of its staff.
An August 7 order gives the Labor Department 180 days to rethink fiduciary guidance on alternative assets, a shift that could change what high earners hold inside tax-deferred plans.
Paychecks and year-end forms will not reflect the July tax law this year, leaving high earners to square up a larger SALT deduction and other changes through estimates and their 2025 returns.
Figma priced its IPO at $33 a share on July 30, 2025 and closed its first trading day near $115.50, and the pop creates a real tax cost for employees holding options and restricted stock.
The $250,000 and $500,000 home sale exclusions have not changed since 1997. Repealing the tax would mainly help older, wealthier owners of homes with large gains, Yale researchers found.
In Estate of Rowland, a late Form 706 that reported only an estimated total value failed to carry a deceased wife's unused exclusion to her husband's much larger estate.
Gov. Mike Kehoe signed House Bill 594, letting individuals deduct 100% of federally reported capital gains, short-term and long-term, starting with the 2025 tax year.
A insider share sale reported July 8, 2025 pegged SpaceX at roughly $400 billion, and the tax bill for employees cashing out at $212 a share hinges on how their shares were granted.
The One Big Beautiful Bill Act makes the 2017 rate structure permanent but adds new limits on itemized and charitable deductions that land squarely on top-bracket households.
Sen. Cynthia Lummis's digital asset tax package would end same-day crypto loss harvesting, defer tax on staking rewards and waive appraisals for donated tokens.