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Contributions to Trump Accounts Treated as Completed Gifts; Gift Tax Returns Not Required (Rev. Proc. 2026-25; IR 2026-80)
Contributions to Trump accounts will be treated as completed gifts that are not future interests in property and the gift tax annual exclusion amount will apply under a safe harbor for certain donors ...

Final Regulations Identify Certain Charitable Remainder Annuity Trust Transactions as Listed Transactions (T.D. 10051; IR 2026-82)
The IRS has issued final regulations identifying certain Charitable Remainder Annuity Trust (CRAT) transactions and substantially similar transactions as listed transactions subject to the reportable ...

Attorney’s Fees and Costs Includable in Gross Income; FCRA’s Fee-Shifting Provisions Inapplicable (Eiler, TC)
A portion of litigation settlement proceeds consisting of attorney’s fees and costs was includible in the gross income of two individuals (taxpayers). Said portion was not deductible under Code Sec...

IRS Explains How Major Life Events Can Affect Tax Filing and Withholding (Tax Tip 2026-55)
The IRS has reminded taxpayers that major life events can affect tax filing requirements, eligibility for tax benefits and the amount of tax withheld from paychecks. The agency explained that changes ...

TIGTA Issues Interim Recap Of 2026 Filing Season (TIGTA_2026_Tax_File_Recap_070726)
The Internal Revenue Service received and processed less returns during 2026, according to the Treasury Inspector General for Tax Administration....

Taxpayer Assistance Centers Showing Deficiencies In Services Provided (TIGTA_on_TAC_07102)
Taxpayer Assistance Centers offered incorrect tax guidance during nearly half of unannounced visits by Treasury Inspector General for Tax Administration staff....

How Do I? Get back start-up expenses in starting a business as quickly as possible
The American Jobs Creation Act of 2004 (2004 Jobs Act) changed the rules for start-up expenses in both favorable and unfavorable ways. Start-up expenditures are amounts that would have been deductible...

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