Tax pros gauge midterm elections’ impact on policy outlook
The 2026 midterm elections will determine whether Congress moves tax legislation in the lame-duck session or the next Congress, and …
Bill would allow larger HSA contributions for new parents
The Savings for Tomorrow’s Opportunities, Raising Kids (STORK) Act, would allow families to contribute an additional $2,000 to a Health …
Claims Court denies Capstone’s summary judgment in microcaptive case
The U.S. Court of Federal Claims has denied a taxpayer’s motion for summary judgment in a microcaptive insurance case, finding …
Digital asset pros raise event, perpetual contract tax questions
Applying existing federal tax rules to novel digital asset products such as event contracts and perpetuals is an unsettled exercise, …
NIL, prediction market income taxable with or without forms, tax pros say
Tax practitioners advising clients in two fast-growing markets, student-athlete compensation and prediction-market trading, should build disciplined records because economic activity …
Digital asset trust staking safe harbor updated in response to pushback
The IRS has issued new guidance that clarifies, modifies, and supersedes a 2025 safe harbor for investment and grantor trusts …
IRS should simplify corporate alternative minimum tax rules, CPAs say
The American Institute of CPAs (AICPA) has recommended that the Treasury and the IRS revise how the corporate alternative minimum …
OBBB created new expensing, credit opportunities for AI investments, tax pros say
New tax law permanently restoring immediate expensing for domestic research costs is reshaping the deductions and credits available to companies …
Senate passes broad tax administration reform legislation
In its last planned session day before the midterm elections, the Senate unanimously passed the Taxpayer Assistance and Service (TAS) …
Bill aims to enhance Saver’s Match before it takes effect
Senator Ron Wyden (D-OR) has introduced legislation to expand the new Saver’s Match program before it takes effect in 2027. …