Current Federal Tax Developments

Alta Wind I Owner Lessor C, et al. v. United States, Nos. 13-402, 13-917, 13-935, 13-972, 14-47, 14-93, 14-174, 14-175, 17-997 (Fed. Cl. July 8, 2026).

In the complex arena of renewable energy tax planning and compliance, determining the correct tax basis of tangible assets is critical, as it directly governs the availability of depreciation deductions and federal ca...

Internal Revenue Service. Summer 2026 Expanded Features for BTA. Fact Sheet FS-2026-11. July 2026. Retrieved from IRS.gov Newsroom. Internal Revenue Service. Business Tax Account. Official Platform Documentation & Eligibility Guide. Last Updated: July 9, 2026. Retrieved from IRS.gov/Businesses.

The Internal Revenue Service’s continued modernization of it...

Announcement 2026-11, 2026-4 I.R.B. 378, July 10, 2026

The Internal Revenue Service has issued Announcement 2026-11, which serves as a formal modification to the previously issued Notice 2026-10. This announcement specifically targets the "optional standard mileage rates for computing the deductible costs of operating an automobile for business, medical, or moving ex...

Chief Counsel Advice Memorandum Number: 202628009, Office of Chief Counsel, Internal Revenue Service (Written: May 29, 2026, Redacted Version Released: July 10, 2026)

The matter discussed in CCA 202628009 concerns a limited partnership governed by a specific Partnership Agreement. Under the terms of this agreement, limited partners are generally shielded from liabili...

Revising Qualified Domestic Trust Regulations under Section 2056A to Update Outdated References and Procedures, T.D. 10050, 2026-13925, 91 FR 13925 (codified at 26 C.F.R. pt. 20) (effective July 10, 2026)

The federal estate tax marital deduction is one of the most critical estate planning tools available to married couples. However, under Internal Revenue Code (Code)...