The best explainers on each story we cover, from advisors, institutions and newsrooms.
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.
Anthropic told employees it would let them cash out stock at a $350 billion valuation, and for many the decision to sell now or wait for an IPO turns on capital gains timing, QSBS and California's tax code.
Elon Musk combined SpaceX and xAI in the largest all-stock merger on record, and for employees holding xAI shares and options, the tax bill turns almost entirely on one word: stock.
The National Taxpayer Advocate's annual report to Congress says a 27% smaller IRS, paired with dozens of new retroactive tax rules, will make 2026 harder for any filer who runs into a problem.
Los Angeles' Measure ULA has collected more than $1 billion for affordable housing since 2023, and the City Council just declined to fast-track exemptions sought by developers and homeowners.
DAFgiving360 donors alone granted $9.9 billion to charity in 2025, up 28%, as wealthy households front-loaded appreciated-stock gifts ahead of OBBBA's new floor and cap on charitable deductions.
A PGIM and SHOOK Research survey of 236 highly ranked advisors finds direct indexing and alternatives moving from niche to core in $5 million-plus portfolios, with taxes driving the shift.
Treasury's answers make clear that salaried exempt professionals get nothing and that only the half in time-and-a-half counts, though some affluent households may still claim it through a spouse or relative.
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.
About 164 million individual returns are expected by the April 15 deadline, the first to reflect the $40,000 SALT cap and a new schedule for deductions on tips, overtime, car loan interest and seniors.
A January 7 announcement sent single-family rental stocks down about 10% intraday; the follow-up executive order limits federal support for big buyers but leaves the key definitions to Treasury.
With a listing possibly landing by March 2026, Discord employees holding RSUs and options face withholding, AMT and lockup decisions that are easier to manage before shares start trading.
Fidelity's year-end guidance walks through the tax moves that still matter for 2026, from Roth conversions and the new $6,000 senior deduction to RMD deadlines and charitable-giving limits.
Treasury's proposed regulations define which US-assembled vehicles and loans qualify and create new lender reporting, but the benefit fades above $100,000 of income, or $200,000 for joint filers.
Agemy Financial Strategies' 2026 planning guide pairs the tax law's new brackets with higher retirement contribution limits, asset location and concentrated-stock timing.
A union-backed ballot initiative would tax people who lived in California on January 1, 2026, which is why moves being discussed now, in the last days of 2025, matter more than any vote next November.
Taxpayers with unreported income or offshore accounts would get a fixed penalty menu and three months to file and pay in full under the proposal, now open for public comment until March 22, 2026.
Eight states cut individual income tax rates for 2026 while New York extends its temporary surtaxes on high earners, reshaping the state bill for affluent households and anyone weighing a move.
From 2026 the AMT exemption starts phasing out at $1 million for joint filers and disappears twice as fast, so the bargain element on incentive stock options is far more likely to trigger AMT.
The private-equity-backed supplier jumped 41% in its Nasdaq debut. For employees of companies that list, stock settling at a public price often comes with a tax bill larger than what payroll withholds.