8 stories from the week to August 23, 2026, in the order they matter to someone who pays the top rate.
August 23, 2026 at 6:09 AM PDT
A Fortune analysis found billionaires who left California for Florida ahead of a proposed wealth tax may have taken roughly $29 billion in potential state revenue with them, a case study in domicile timing.
The IRS said interest on underpaid individual taxes will stay at 7 percent through year-end, a rate that quietly punishes high earners who skip estimated payments or extension balances.
Treasury’s August 20 proposal bars sector, ESG and leveraged funds from Trump Accounts until the year a child turns 18, and caps fund costs at a tenth of a percent.
Inflation and health care top retirees' worries. For affluent households, the written plan that eases stress is largely a tax plan covering withdrawals, conversions and Medicare premiums.
The Eleventh Circuit affirmed that a Georgia land partnership's charitable deduction for a conservation easement was limited to cost basis, plus a 40 percent penalty, a warning for real estate investors in syndicated easement deals.
The uniform deal announced in May is closed and its deadlines withdrawn. Investors in syndicated easement partnerships now face case-by-case talks with a new dedicated IRS office.
Fact Sheet FS-2026-14 restates the 30% cap after the depreciation add-back returned, sets a $32 million small-business test for 2026 and spells out what electing real estate firms give up.
Proposed rules published August 17 would drop a charitable information return for family trusts whose only deduction flows from a partnership or S corporation they own.
General information, not tax, legal or investment advice.