Current Federal Tax Developments

This week we look at:

• Transitioning Foreign Tax Allocations and Implementing the Ten Percent Credit Disallowance Under Section 960(d)(4)

• Trustee-to-Trustee Transfers of Inherited IRAs Through an Estate: Technical Analysis of PLR 202631001

• Federal Courts Lack APA Jurisdiction Over Foreign Gift Penalty Disputes: The Adequate Alternative Remedy Barrier

• Sourcing Executive Termination Payments: Analyzing the Bifurcated Sourcing of Severance and RSUs in the Appeal of Otting

• The Permanent Section 45S Paid Family and Medical Leave Credit: Analyzing the Statutory Wage Method Mechanics and the New Premium Method Under Notice 2026-28

• The Tax Court Open Door: Why the BBA Partnership Petition Deadline Is Not Jurisdictional

• Commingled Funds, Unsubstantiated Deductions, and the Binding Form of Transactions: A Technical Tax Analysis of Reed v. Commissioner

• The Safe Harbor That Wasn’t: Deconstructing the Anti-Abuse Rule in SIH Partners LLLP v. Commissioner

• The Evolution of Qualified Overtime Compensation Deductions: Analyzing IRS Fact Sheet FS-2026-13 and Its Practical Implications

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This week’s articles can be downloaded below:

2026-08-10 Current Federal Tax Developments

This week we look at:

• IRS Reinstates Tax Deferral on Variable Annuity Term Certain Options: Reconsideration and Reversal in PLR 202630002

• Understanding the ERC Pleading Standard: Federal Claims Court Deferral in I Health and Life Insurance Services

• Predecessor Losses, the Lonely Parent Rule, and the Limits of Economic Reality: Analysis of HBM Holdings Co. v. Commissioner

• Double Books and Disguised Payees: Corporate Personal Expenses and the Civil Fraud Penalty in Prezioso v. Commissioner

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The articles for this week’s update can be downloaded as a PDF below:

• Current Federal Tax Developments August 3, 2026

This week we look at:

• Valuation of Remainder Interest Gifts Upon Trust Termination: State Law and Net Gift Adjustments in Lewis v. Commissioner

• Revenue Procedure 2026-26: Technical Overview of 2027 Indexing Adjustments for Premium Tax Credits and Affordability Standards

• Limitations of Interest Abatement Claims Under I.R.C. § 6404(e)(1) in the Context of ERC-Driven Amendments

• Section 6015(c) Relief and the Substantiation Trap: An Analysis of Anderson v. Commissioner

• Navigating the AICPA’s New Tax Services Independence Standards: A Guide for Practitioners

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Articles on each update and a copy of the slides for this week can be downloaded as a PDF below:

• Current Federal Tax Developments July 27, 2026 Articles

• Presentation Slides

This week we look at:

• Partnership Recourse Rules: Conditional DROs will not establish EROL under § 1.752-2.

• Mileage Rate Adjustment: Business standard mileage rate rises to 76 cents on July 1, 2026.

• Business Tax Account: Modernized self-service portal expands features but requires active annual maintenance.

• Litigation Legal Fees: FCRA settlements are taxable gross income without above-the-line deduction.

• Corporate Reorganizations: Tax Court invalidates regulation limiting 100% DRD in post-Loper Bright era.

• ERC Litigation Realities: Exhaustion loophole rejected; notice pleading standards approved in refund suits.

• Conservation Easements: Valuation must be grounded in immediate local market demand, not speculation.

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You can download a PDF with articles for this week’s update and a copy of this week’s slides.

• Current Federal Tax Developments July 20, 2026

• Slides

This week we look at:

• Transitioning from First Time Abate (FTA) to Automatic Exemption from Penalty (AEP)

• Strict Enforcement of Tax Refund Statutes of Limitations

• Employee Retention Credit (ERC) Refund Claims & Pleading Standards

• Pandemic-Era Persistence of New York's Convenience of the Employer Rule

• Invalidity of Treasury Regulation Section 1.951A-2(c)(5)

• Non-Shareholder Capital Contributions vs. Compensation

• Final Section 1035 Exchange & Corporate Reorganization Regulations

• Reclassification of Abusive CRAT Structures as Listed Transactions

• The National Taxpayer Advocate’s Perspective on AEP

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PDFs of the articles for this week’s update and the slides can be downloaded below:

• 2026-07-13 Current Federal Tax Developments

• Slides

This week we look at:

• Relief from Ineffective S Corporation and QSub Elections

• Procedural and Jurisdictional Limits in Challenging IRS Guidance

• Medicaid Gross Receipts, Cohan Estimations, and Professional Reliance

• Standards and Deceit in Supervised Release

• Transitional Guidance on Qualified Opportunity Zones

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Articles for this week’s broadcast and copies of slides can be downloaded below:

• Current Federal Tax Developments June 22, 2026

• Slides June 22, 2026

This week we look at:

• Section 7508A(d) and Interest on Pre-COVID-19 Disaster Tax Deficiencies

• The Soroban Capital Partners SECA Tax Controversy

• Pleading Requirements for the Employee Retention Credit (Tapestry Senior Housing)

• ERC Causation and the Essential Business Hurdle (RAAM Construction)

• The Section 530A Transfer Tax Safe Harbor (Rev. Proc. 2026-25)

• Penalty Supervisory Approval Verification in CDP (Besicorp Group)

• Retroactive ERC Deadlines & Constitutional Challenges

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You can download a copy of the stories for this week’s updates and the slides for this week from the link below:

• Current Federal Tax Developments July 6, 2026 Articles

• July 6, 2026 Slides

This week we look at;

• Nominal S Corporation Ownership and the Abuse Exception

• Recapping the ERC via Section 7405 Civil Actions

• Constructive Dividends, Formalities, and Civil Fraud

• CDP Hearings, Offer-In-Compromise, and RCP Calculations

• Professional Responsibility and Responsible AI Use

• Rigorous Proof for ERC "Partial Suspension" Claims

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PDFs with this week’s articles on the updates and the slides used for this week’s presentation can be downloaded below.

• Current Development Articles

• Slides for Presentation

This week we look at:

• Application of New Section 68 to Trusts and Estates

• Assessing the Risks of Hindsight in Late § 475(f)(1) Elections

• The Eradication of the 5% Safe Harbor (Clean Energy)

• Limits of § 2036(a) and Tax-Motivated Transfers

• Section 183 Hobby Losses & Penalties

• New Section 25F Education Freedom Tax Credit

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PDFs with copies of this week’s articles on the updates and the slides for this week can be downloaded below:

• Current Federal Developments June 15, 2026

• Slides

This week we look at:

• Proposed Increase to Estate Tax Closing Letter User Fee

• Divergent Causation Standards for ERC Eligibility

• Valuation Extremes in Conservation Easements

• Substantiating Mortgage Interest Deductions

• Taxation of Cryptocurrency Staking Rewards

• Section 4960 and "Covered Employees"

• FBAR Compliance and IRS Agent Authority

An audio only version of this week’s broadcast can be streamed or downloaded below.

Articles related to this week’s updates and slides for the week’s program can be downloaded below.

• 2026-06-08 Current Federal Tax Developments Articles

• Slides