General information only. Not tax, legal or investment advice. A planning idea named here is not a recommendation for any person. Prem Tax and Accounting Corp is a CPA firm, not a law firm. Tax rules change often and figures are for the tax year shown: confirm with the official source or a qualified adviser before you act. Read the full notice. Book a 10-minute call.

Current Topics

Recent tax decisions and rulings that matter most to families and owners

Seven items we read on the court or IRS site, each with what it decided, the court and date, and what is still open. We describe holdings only and do not tell you what they mean for your own return.

Prepared by Prem Tax and Accounting Corp. Last reviewed November 6, 2026. Figures as of November 6, 2026.

This is our short list of recent decisions, plus one IRS announcement, that matter most to families, retirees and small business owners. We include only items we read on the official court or IRS site, and say what each decided, not what it means for your return. We sort them with the One-Line Holding Index Card. See how to read tax cases for the labels.

Case	Court and date	What it held	Why it matters
Loper Bright v. Raimondo, 603 U.S. 369	Supreme Court, June 28, 2024	Judges decide for themselves whether an agency stayed within the statute and may not defer just because the law is unclear.	Tax regulations need the best reading of the law or a valid delegation.
Connelly v. United States, 602 U.S. 257	Supreme Court, June 6, 2024	A company's duty to buy back a deceased owner's shares does not necessarily lower its value for estate tax. Company-collected insurance is an asset.	There the shares were valued near $5.3 million, not $3 million, adding $889,914 of estate tax. Each buyout structure has trade-offs.
Commissioner v. Zuch, 605 U.S. 422	Supreme Court, June 12, 2025	The Tax Court cannot decide a collection-hearing dispute once the IRS stops pursuing a levy.	Refund disputes that outlive the levy need a refund claim.
Farhy v. Commissioner, No. 23-1179	D.C. Circuit, May 3, 2024	The IRS may assess, not just sue to collect, the penalty for not filing Form 5471, the foreign corporation return.	Binds only the D.C. Circuit. The Tax Court's Mukhi, 163 T.C. No. 8, went the other way for Eighth Circuit cases and is still open.
Estate of Bruyea v. United States, No. 2025-1563	Federal Circuit, August 31, 2026	A U.S. citizen in Canada cannot use a credit for Canadian tax against the 3.8% net investment income tax. The Code bars it and the treaty adds none.	Precedential. Further review is possible.
Soroban Capital Partners v. Commissioner, Nos. 25-2079 and 25-2250	Second Circuit, September 17, 2026	Partners who run, manage or control the business are not limited partners for the self-employment tax exclusion.	Unsettled: the Fifth Circuit words its test differently, and the opinion says a First Circuit appeal is pending.
Announcement 2026-7	IRS, Internal Revenue Bulletin 2026-11	Parts of the final RMD rules are expected to apply no earlier than the first calendar year starting at least 6 months after publication.	It waives no RMD or penalty. See our RMD guide.

Check the status Several items are not final: Farhy covers one circuit, Mukhi is open, Bruyea could be reviewed and a First Circuit appeal is pending.

The One-Line Holding Index Card

Write the case name, court and date.
Write what the court decided in one sentence, using the opinion rather than the headline.
Note the status: final, on appeal or still open.
Note which courts it binds, and ask whether your facts match.

Common questions

Did the Supreme Court decide a federal tax case in its 2025 term?

No decision of the term that began in October 2025 arose under the Internal Revenue Code. Zuch came in June 2025, in the term before.

Are any tax cases set for the current term?

Through its orders of November 5, 2026, we found none among the cases the Supreme Court agreed to hear (checked by case name). We do not predict grants.

Which of these apply in Illinois?

Supreme Court decisions apply everywhere. Illinois taxpayers appeal Tax Court decisions to the Seventh Circuit, which had three published civil tax decisions in 2025 and 2026, none in this list. See our [planning lessons](/current-topics/cases/lessons-for-planning/).

Official sources

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Please read: general information only

This page gives general information and education about current federal and state tax topics, including recent legislation, planning ideas, retirement and annuity rules, and court decisions. It is not tax, legal, accounting, investment, insurance or other professional advice, and it is not a substitute for advice from a qualified CPA, attorney or other adviser who knows your facts. Reading it does not create a CPA-client or any other professional relationship with Prem Tax and Accounting Corp. Prem Tax and Accounting Corp is a CPA firm, not a law firm. It does not sell insurance or investment products, and it does not recommend, rate or sell any annuity, fund or other product. A planning idea, a strategy name or an example here is not a recommendation to take or avoid any action.

Tax rules, thresholds, rates and deadlines change often, and Congress, the IRS, the courts and the states change how they apply them. Guidance on recent legislation is still being issued. We checked the figures against the official sources named on the page on the date shown (last reviewed November 6, 2026), but we do not promise that this page is complete, current or free of errors, and we do not update it the moment a rule changes. Where the rules are unsettled or guidance is still pending we say so. Amounts for a future year are labelled planning figures until the IRS or another agency publishes them. Examples use invented numbers and are for illustration only.

To the fullest extent the law allows, Prem Tax and Accounting Corp and its owners and staff are not responsible for any loss or decision that results from using this page. Links to government and other websites are for convenience and we do not control them.

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Questions about how the new tax law or your year-end moves apply to you? Keshav Agrawal is a U.S. CPA and a Chartered Accountant (CA) from India. We prepare U.S. and Illinois returns, plan with you, and work alongside your financial adviser, insurance agent or attorney. We sell no investment or insurance products. Book a 10-minute call or send us a message.

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