The best explainers on each story we cover, from advisors, institutions and newsrooms.
The IRS says the government shutdown does not move the Oct. 15 deadline for 2024 returns. For extended filers, penalties, SEP contributions and payment plans all hinge on filing on time.
The IRS's 2026 inflation adjustments raise the joint standard deduction to $32,200, hold the gift exclusion at $19,000 and set the thresholds that matter most for bracket, gifting and trust planning.
A newly created position puts one person atop both the IRS and Social Security Administration heading into the 2026 filing season, alongside a leadership change over IRS enforcement.
Current and former staff sold stock at a $500 billion valuation with per-person payouts as high as $30 million, and how much they keep depends on what kind of equity they held.
New Treasury guidance halves the improvement threshold for rural Opportunity Zone projects and sets up a permanent program with a bigger tax break for capital gains invested outside cities.
The agency pulled back 2024 proposals that would have tightened Section 355, leaving current, more flexible law in place for owners planning to divide a closely held company.
A new Bank of America study finds affluent households increased total charitable giving by 30% since 2015 even as the share who donate anything fell from 91% to 81%.
Treasury's contingency plan says Inflation Reduction Act funding will keep all 74,300 IRS employees working through the first week of a shutdown, with no word on what happens after that.
A notice letting Dimensional Fund Advisors add an ETF share class to its mutual funds opens a structure that can cut capital-gain distributions for taxable investors industrywide.
A Georgia land deal shows how the Tax Court keeps unwinding syndicated conservation easements, this time disallowing one donor's deduction entirely and slashing the other by 98%.
Final Treasury regulations issued September 15, 2025 confirm that workers whose prior-year wages from an employer top $150,000 must make 401(k) catch-up contributions as after-tax Roth money starting in 2026.
Klarna priced its September 9, 2025 IPO above range at $40 a share, a $15.1 billion valuation, creating tax decisions for employees and early investors who can now sell newly liquid shares.
Average 401(k) balances climbed to $137,800 in the second quarter, and the growing club of seven-figure accounts faces a larger question about taxes on the way out.
A new alternatives program brings institutional-style private market funds to ultra-wealthy clients, along with the K-1s, state filings and tax drag that come with them.
Staff at the London fintech can sell shares at $1,381.06 apiece. For US-resident employees and investors, the payout raises questions about holding periods, the 3.8% surtax and foreign tax credits.
Rev. Proc. 2025-28 lets companies with up to $31 million in gross receipts amend 2022 through 2024 returns to expense domestic research, with a July 6, 2026 deadline for the retroactive election.
In an August 2025 special session, Colorado signed bills that keep taxing income the federal One Big Beautiful Bill Act now shields, raising state bills for owners of pass-through businesses.
More than 25,000 employees left through incentive programs and 7,315 probationary workers were fired, leaving complex filers facing slower answers and a less predictable audit pipeline.
Treasury and IRS guidance issued August 21 explains how a binding contract and payment can preserve the $7,500 EV credit, and why home energy credits turn on installation, not payment.
The new deduction limit loses 30 cents for every dollar of income above $500,000, and a faster AMT exemption phaseout from 2026 adds pressure on high earners in high-tax states.
Long's exit on August 8 makes him the shortest-serving confirmed IRS commissioner and leaves Treasury Secretary Scott Bessent running an agency that has lost about a quarter of its staff.
An August 7 order gives the Labor Department 180 days to rethink fiduciary guidance on alternative assets, a shift that could change what high earners hold inside tax-deferred plans.
Paychecks and year-end forms will not reflect the July tax law this year, leaving high earners to square up a larger SALT deduction and other changes through estimates and their 2025 returns.
The new tax law restores full first-year write-offs for property acquired after January 19, 2025, and more than doubles Section 179, changing how owners time big purchases.