4 stories from the week to August 10, 2025, in the order they matter to someone who pays the top rate.
August 8, 2025 at 2:19 PM PDT
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.
The new tax law restores full first-year write-offs for property acquired after January 19, 2025, and more than doubles Section 179, changing how owners time big purchases.
General information, not tax, legal or investment advice.