The best explanations of every story we cover, from institutions, newsrooms and practitioners.
Mail ballots go out October 5. Prop 3 removes the 2030 end date on California's 10.3% to 12.3% rates, which reach single filers above about $371,000 and couples above $743,000.
An independent candidate for Florida governor said he would seek voter approval for a new 9.9% Florida personal-income tax on taxable personal income above $1 million, with revenue dedicated to a restricted trust.
A new push to remove Social Security’s wage cap would extend the 6.2% payroll tax above $184,500 in 2026, raising costs for top earners while only partly narrowing the program’s funding gap.
Six Nobel Prize-winning economists endorsed California’s Proposition 40, a ballot measure for a one-time 5% tax on billionaires, adding momentum to a closely watched state tax fight.
A draft Form 1040 released Sept. 18 would, for the first time, ask about a filer’s citizenship status, a procedural change that could matter for compliance, privacy concerns, and return preparation.
A September 18 report highlighted how Realty Income’s monthly REIT payouts are generally taxed as ordinary income in a taxable account, while qualified Roth IRA distributions can avoid federal tax entirely.
New IRS guidance explains how employers can claim the permanent Section 45S paid family and medical leave credit, including a new insurance-premium method that starts with 2026 tax years.
A first required minimum distribution of about $37,700 at age 73 can push a retiree with a $40,000 Social Security benefit into the 85% taxable-benefit zone under long-frozen federal thresholds.
A September 18 report highlighted a costly rental-property mistake: owners who skipped depreciation deductions may still face basis reduction and recapture tax when they sell.
A report on the Walton family’s use of charitable lead annuity trusts highlights how CLATs can shift future appreciation to heirs at a low gift-tax value, though higher rates make the math tougher in 2026.
The IRS’s proposed Trump Account regulations outline how employers may make up to $2,500 of qualifying contributions in 2026 and 2027, while adding plan, payroll, reporting, and nondiscrimination requirements.
Texas appellate judges sharply questioned a comptroller rule that could redirect local sales tax revenue from cities tied to online retailer fulfillment centers, raising stakes for municipalities and businesses operating in the state.