The best explainers on each story we cover, from advisors, institutions and newsrooms.
A new Labor Department rule would shield plan sponsors who evaluate private equity, real estate and digital assets under a defined process, opening the door to more alternatives in workplace retirement plans.
The House committee unanimously approved bills extending casualty-loss deductions through 2027, upgrading IRS service, and raising the stakes for whistleblower awards.
The nation's largest donor-advised fund sponsor reports grants up 23% and crypto gifts down sharply, as affluent donors increasingly use DAFs to convert appreciated assets into charitable deductions.
Invest in MI Kids suspended its petition drive for a 5% income-tax surtax above $500,000, but the group says it plans to try again for 2028, keeping the proposal on affluent Michigan households' radar.
A constitutional amendment would phase out Missouri's income tax using revenue-triggered cuts and a broader sales tax, one year after the state exempted capital gains entirely.
The retooled online calculator now factors in the tips, overtime, senior and car-loan-interest deductions, giving high earners a way to rework their 2026 W-4 before a surprise tax bill or penalty arrives.
A new law would end Washington's status as an income-tax-free state for top earners starting in 2028, layering a 9.9% levy on top of the state's existing capital gains tax.
Senate Democrats say the Vacancies Act clock ran out March 6 with no nominee, leaving the IRS without a Senate-confirmed leader as complex filers wait on guidance and service.
A new proposal would remove the transaction-of-interest reporting regime for related-party partnership basis adjustments and let participants treat it as if it never took effect.
Two sets of proposed IRS regulations explain who can open a child's Trump Account, how parents claim the $1,000 Treasury contribution and what families should know before deposits begin July 4, 2026.
The 2026 Dirty Dozen list flags fabricated undistributed capital gains credits and AI-enhanced impersonation calls, both aimed at taxpayers with investment income.
Brokers' first Forms 1099-DA report only gross proceeds for 2025 sales, leaving investors to prove their own cost basis, while Treasury proposes letting brokers deliver the forms electronically.
Fidelity's year-end account data shows average retirement balances rising by double digits, a milestone that also foreshadows larger required withdrawals — and tax bills — down the road.
Revenue Procedure 2026-15 lifts the luxury-auto depreciation ceilings slightly for 2026, but the bigger number for owners buying a heavy SUV is the separate $32,000 Section 179 limit paired with full bonus depreciation.
The IRS's new Schedule 1-A bundles four temporary deductions into one form, and its line-by-line phaseout math determines whether affluent households get any benefit at all.
Stripe's latest employee share sale values the payments company at $159 billion, and the tax treatment of the proceeds depends on how each employee's shares were granted.
A memorandum decision in Otay Project LP v. Commissioner shows how the IRS unwinds a partnership basis step-up it views as engineered mainly for tax deferral.
Comment letters filed by February 20 ask Treasury to open Trump Accounts to competing IRA providers, fix a rollover glitch and confirm fees, shaping where a child's account will actually live.
The February 20 guidance defines which manufacturing, agricultural and refining buildings qualify for an immediate write-off, sets tight construction and placed-in-service windows, and flags a 10-year recapture trap.
IRS statistics for the week ending February 13, 2026 show fewer people have filed, but the average refund has climbed to $2,476, the first hard evidence that OBBBA's retroactive tax cuts are reaching bank accounts.
The February 20 ruling found the emergency-powers law never authorized import tariffs, voiding two rounds of duties and setting off refund claims that Penn Wharton estimates could reach $175 billion.
California's combined top marginal rate reaches 14.4% and NYC residents face up to 14.776%, even as Georgia, Indiana, Kentucky and six other states cut income tax rates on January 1.
A bipartisan 38-11 vote sends a bill undoing last year's rate increase toward the House, with the lower rate applying only to deaths on or after July 1, 2026.
The Congressional Budget Office's new baseline shows deficits $1.4 trillion higher than previously projected through 2035, a gap large enough that it raises real odds of higher taxes on high earners down the road.