Proposed Rule on Tax-Exempt Refunding Bonds Guidance
The IRS has issued proposed regulations to update arbitrage rules for tax-exempt and tax-advantaged bonds. The proposal clarifies refunding overpayments, transferred proceeds, allocation limitations, defeasance notices, guarantee funds, and definitions of tax-exempt bonds and refunding issues. The proposed regulations affect issuers of tax-advantaged bonds.
Proposed IRS Rule on Trump Accounts
The IRS has issued proposed regulations concerning the establishment and administration of 'Trump accounts,' a new type of individual retirement account authorized by recent legislation. The proposed rules provide guidance on making elections to open these accounts and reserve further sections for additional guidance. The comment deadline for these proposed regulations is May 8, 2026.
IRS Proposed Rule: Digital Asset Broker Electronic Statements
The IRS has issued a notice of proposed rulemaking concerning digital asset brokers. The proposal offers an alternative method for brokers to obtain customer consent for electronic delivery of tax statements related to digital asset transactions, without requiring a paper alternative.
IRS Proposes Trump Accounts Contribution Pilot Program
The IRS has issued a Notice of Proposed Rulemaking concerning a new Trump accounts contribution pilot program. The program would allow eligible children born between 2025 and 2028 to receive a one-time $1,000 contribution to their Trump account. The proposed regulations provide guidance on making the election for this contribution.
IRS proposes removing partnership basis adjustment regulations
The IRS has proposed removing regulations that identified certain partnership related-party basis adjustment transactions as transactions of interest. This proposed rule would affect participants in these transactions and their material advisors. Comments are due by April 6, 2026.