2026-07-20 IRS Expands Business Tax Accounts copertina

2026-07-20 IRS Expands Business Tax Accounts

2026-07-20 IRS Expands Business Tax Accounts

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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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