Market snapshot · Aug. 12, 2026 close
The American FilingSection
Filing seasons, rulings and the tax code
Eligible funds must track a broad equity index of mostly American companies, use no leverage, charge no annual account fee and carry expenses of no more than 0.1% of the balance.
Notice 2026-48 describes how the federal contribution for low- and moderate-income retirement savers will work when it replaces the Saver's Credit in 2027, with comments open through October 5.
Updated IRS guidance requires employers to report qualified overtime separately on Form W-2 using code TT in box 12, and the penalty relief that covered 2025 does not extend to this year.
With a $5,000 combined annual limit shared by families and employers, planners are comparing the new accounts against 529 plans and custodial accounts — and finding the answer depends on the purpose.
The tax-advantaged children's accounts opened on July 4, with a federal seed deposit for citizens born from 2025 through 2028 and no income test on eligibility.
Lawmakers in at least ten states opened the year with proposals to cut property taxes after several years of steep assessment increases, and at least 27 state tax measures go before voters this fall.
Coverage rates for corporations with more than $250 million in assets are projected near 22.6%, and for individuals reporting over $10 million of income near 16.5%, while overall examination rates fall.
Permanent 100% bonus depreciation and the restoration of immediate research deductions have reduced the after-tax cost of exactly the investments companies are making most: data centers, equipment and engineering.