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.

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 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.

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.

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.

Fatty Acids Investigations from Indonesia and Malaysia Initiated

The U.S. Department of Commerce initiated countervailing duty (CVD) and antidumping duty (AD) investigations into imports of fatty acids from Indonesia and Malaysia. These investigations were initiated based on petitions filed by Vantage Specialty Chemicals, Inc. The investigations cover the period of January 1, 2025, through December 31, 2025.

Rescission of Countervailing Duty Review for Chinese Freight Rail Parts

The International Trade Administration (ITA) is rescinding the administrative review of the countervailing duty order on certain freight rail couplers and parts thereof from China for the period January 1, 2024, through December 31, 2024. This action is due to a lack of reviewable entries of subject merchandise during the period of review.

Bankruptcy Rules Committee Meeting Notice

The Judicial Conference of the United States has issued a notice for an open meeting of the Advisory Committee on Bankruptcy Rules. The meeting will be held on September 25, 2025, in Washington, DC, with options for in-person and remote observation.

Judicial Conference Proposes Rule Amendments and Schedules Hearings

The Judicial Conference of the United States, through its Advisory Committees, has proposed amendments to rules governing Appellate, Bankruptcy, Civil, Criminal, and Evidence procedures. Public comment is open from August 15, 2025, to February 16, 2026, with virtual hearings scheduled in January and February 2026.

Evidence Rules Committee Meeting Observation Notice

The Judicial Conference of the United States has issued a revised notice for the Advisory Committee on Evidence Rules meeting. The meeting will now be held virtually on November 5, 2025, instead of in New Orleans, and will be open for remote observation only.