Current Federal Tax Developments

This week we look at:Automatic refunds for adoption credit carryforwards claimed on 2025 returnsTax Court rejects two syndicated easement deals and applies 40% gross valuation penaltiesIRS withdraws the per se device rule and two anti-abuse rules from 2016 § 355 proposed regsNew law lets ministers revoke prior Form 4361 SECA exemptions beginning in 2029Rev. Proc. 2026-34 rewrites EPCRS: broader self-correction, no mandatory recoupmentNew IRA correction program (IVCP) begins May 1, 2027, replacing PLRs for 60-day rollover waiversAn audio only version of this week’s broadcast can be downloaded or streamed below: 2026-10-26 New IRA Voluntary Correction Program Coming Edward K. Zollars, CPA (Arizona) Download You can download articles on this week’s updates as a PDF below:2026-10-26 Current Federal Tax Developments

This week we look at:Congress passes H.R. 9496, creating new IRC §7511 relief for hostages and wrongful detainees.Rev. Proc. 2026-20 gives investment trusts holding digital assets a safe harbor for staking.California OTA rejects FTB's hot asset theory for nonresident partnership interest sales.Rev. Rul. 2026-18 publishes the SIFL rates for second-half 2026 employer aircraft flights.Tax Court sustains bank-deposits income, denies Cohan estimates, and abates penalty in Rahman.Proposed regs implement OBBBA changes to the Section 36B premium tax credit and APTC rules.T.D. 10059 finalizes the back-end basis adjustment rule for intragroup Section 357(c) liabilities.IRS postpones deadlines to February 2027 for Hurricane Isaias victims in Alabama and Florida.Court of Federal Claims denies ERC for a staffing agency in Southern Arizona Health Services.T.D. 10060 lets the IRS contract for card payment fees, recouped through a reimbursement fee.An audio version of this week’s update can be streamed or downloaded below: 2026-10-19 IRS Finally Adopts Credit Card Payment to IRS Regulations, But There Will Likely Be Fees Edward K. Zollars, CPA Download A PDF with articles for this week’s updates can be downloaded below:2026-10-19 Current Federal Tax Developments

This week we look at:Informal claim and COVID-19 disaster relief save an untimely-looking IRA refund suit in Singh.IRS recasts “Section 351 conversion” ETF transactions as taxable exchanges in Rev. Rul. 2026-20.Proposed regs implement a four-year installment election for farmland sales to young farmers.A corporate Offer-in-Compromise caps an officer's Trust Fund Recovery Penalty liability in Amodio.Treasury completes automatic enrollment in Trump Accounts under new Section 530A regulations.Sevillo Fine Foods: three independent grounds doom an ERC claim based on port congestion delays.Tax Court holds Form 872-T cannot terminate a fixed-date Form 872 extension in Fine v. CommissionerNew IRS notice extends tax deadlines to September 2027 for Israel conflict-affected taxpayersCongress sends the National Taxpayer Advocate independent legal counsel in H.R. 997.New regulations build the infrastructure for the $1,700 Section 25F scholarship tax credit.An audio only version of this week’s podcast can be streamed or downloaded below: 2026-10-05 Trump Accounts Established for All Children Edward K. Zollars, CPA (Arizona) Download Articles for this week’s topics can be downloaded as a PDF below.2026-10-05 Current Federal Tax Developments

This week we look at:Tax Court Applies Equitable Tolling to BBA Partnership Petition Deadlines -- Kings Road PropertyDistrict Court Voids VIBIR's Net Investment Income Tax Assessment -- PerkinsIRS Notice 2026-55 Seeks Comments on Opportunity Zone Rules for Housing DevelopersHurricane Michael Casualty and Charitable Deductions Fail for Lack of Substantiation -- WilliamsTreasury Raises the Estate Tax Closing Letter User Fee to $76 -- TD 10055Tax Court Finds Proper Mailing Despite a Defective Form 3877 -- LindseyUnsubstantiated Insider Loan Triggers 225-Percent Excise Tax Exposure -- JagannathAn audio only version of this week’s broadcast can be streamed or downloaded below: 2026-09-28 Estate Closing Letter Fee Increase Finalized Edward K. Zollars, CPA (Arizona) Download Articles with this week’s developments can be downloaded below.Current Federal Tax Developments - September 28, 2026

This week we look at:Tax Court Warns of AI Drafting Pitfalls in a CDP Lien Withdrawal Case -- MooreAltering the Perjury Jurat Dooms a Refund Suit -- Johnson v. IRSIRS Extends the Involuntary Conversion Period for Drought-Hit Livestock SalesH.R. 9500 Would Restore and Expand Personal Casualty and Theft Loss ReliefSecond Circuit Rejects Form Over Function for SECA Tax -- Soroban Capital PartnersH.R. 5334 Expands the Educator Expense Deduction to Early Childhood TeachersAn audio only version of this week’s broadcast can be streamed or downloaded below: 2026-09-21 Tax Break for Preschool Teachers in the Russia Sanctions Bill Edward K. Zollars, CPA (Arizona) Download A copy of this week’s stories can be downloaded as a PDF below:2026-09-21 Current Federal Tax Developments