5 stories from the week to January 18, 2026, in the order they matter to someone who pays the top rate.
January 16, 2026 at 4:27 PM PST
A Fifth Circuit ruling says state-law limited partners can skip self-employment tax on their share of the business even if they help run it, reversing an IRS test used in Texas, Louisiana and Mississippi.
At the 60th Heckerling Institute, a leading panel warned that OBBBA's 2/37 itemized deduction haircut may reach trust distributions, as planning shifts from estate tax toward income tax.
The 2025 tax law cut individual taxes by about $129 billion, but paycheck withholding was never updated, so much of that cut, including the $40,000 SALT cap, arrives as a refund this spring.
The model 402(f) explanations plans give departing employees now cover new penalty exceptions, a $7,000 cashout limit, RMD ages 73 and 75, and the end of RMDs for plan Roth accounts.
The interim guidance explains when property counts as acquired, how the 40% election works and what taxpayers may rely on, a roadmap for real estate owners weighing cost-segregation studies.
General information, not tax, legal or investment advice.