More than half the U.S. States signed up to participate in the federal scholarship tax credit program enacted under the One, Big, Beautiful Bill

IR-2026-76, June 8, 2026 — The IRS announced that 27 states have elected to participate in the Federal Scholarship Tax Credit (FSTC) program, which enables eligible taxpayers to claim a federal tax credit for qualified contributions to Scholarship Granting Organizations (SGOs) providing scholarships for qualified elementary and secondary education expenses.

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Treasury, IRS announce intent to issue proposed regulations for excise tax on excess tax-exempt organization executive compensation under the One, Big, Beautiful Bill

IR-2026-73, June 5, 2026 — The Department of the Treasury and the Internal Revenue Service today issued Notice 2026-36 announcing intent to issue proposed regulations addressing the tax on excessive compensation and excess parachute payments to employees of tax-exempt organizations under the One, Big, Beautiful Bill.

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Treasury, IRS issue Section 892 proposed regulations to provide grandfathering protection and transitional relief to sovereign investors

IR-2026-69, May 29, 2026 — The Department of the Treasury and the Internal Revenue Service today issued additional guidance addressing the applicability dates of recent proposed regulations under Section 892 of the Internal Revenue Code, which exempts foreign governments, including sovereign wealth funds, from tax on certain income derived from

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