Taxes August 24, 2026
IRS Keeps Interest Rates Steady for Q4 2026
Interest rates for tax underpayments and overpayments will stay the same for the fourth calendar quarter of 2026, which begins on Oct. 1, the IRS said on Friday.
Taxes August 24, 2026
Whiplash: The 5th Circuit Rewrites the Limited-Partner Self-Employment Tax Test; Tax Pros Should Check in With Clients
There’s an ongoing legal debate taking place in the courts over the self-employment tax treatment of partnership income that is flying below the radar for many busy tax professionals.
Taxes August 21, 2026
Tax Court Takes Narrow View of Tax-Exempt Legal Settlements
The short story is that full amount of a personal legal settlement is generally taxable as ordinary income at rates currently topping out at 37%.
Taxes August 20, 2026
IRS Issues Proposed Regs on Eligible Investments for Trump Accounts
The Treasury Department and the IRS have proposed rules on eligible investments for Trump Accounts, a new investment vehicle created by the One Big Beautiful Bill Act to help children build wealth from an early age.
Taxes August 20, 2026
IRS Adds Tax Compliance Report to Individual Online Accounts
The IRS on Thursday unveiled a digitally authenticated Tax Compliance Report, found through IRS Individual Online Account, that shows whether a taxpayer filed tax returns and paid taxes on time.
Taxes August 20, 2026
IRS to Open Office of Conservation Easements
In addition, the IRS said it's transitioning the process for settlements in conservation easement disputes, with roughly 1,100 of these cases currently pending.
Legislation August 20, 2026
Husted Introduces Bill to Let Homebuyers Tap 529 Savings for Down Payments
U.S. Sen. Jon Husted (R-Ohio) has introduced legislation that would let first-time homebuyers use unused college savings toward a down payment.
Taxes August 19, 2026
IRS Regs Would Block Certain Immigrants From Claiming Refundable Tax Credits
Proposed rules issued by the Treasury Department and the IRS on Wednesday would restrict undocumented immigrants' access to refundable tax credits, such as the Earned Income Tax Credit and the Child Tax Credit.
Taxes August 19, 2026
IRS Posts Updated Fact Sheet on Business Interest Expense Deduction Limit
The IRS said Aug. 19 that it has updated frequently asked questions about the limitation on the deduction for business interest expense.
Taxes August 19, 2026
Carried Interest Tax Hike Would Barely Dent Federal Debt, Analysis Finds
High cost, low benefit. That’s the projected impact from a proposed tax hike on carried interest, according to an analysis from the Tax Foundation.
Taxes August 19, 2026
New York City Council Outraged by Mamdani Administration’s No Show at Pied-à-Terre Hearing
The Mamdani administration was accused by City Council members of putting a “scarlet letter” on homeowners facing the extra surcharge.
Taxes August 18, 2026
Mamdani Administration Skipping NYC Council Hearing on Pied-à-Terre Tax, Sparking Criticism
The move is coming under fire from local reps as it allows administration officials to dodge critical questions about the controversial surcharge.