Internal Revenue Service

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Last Updated: Just Now

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Global Economy & Central Banks 08 Oct 2026, 04:39 AM IST

SALT Deduction Cap Set at $40,400 for 2026 as Taxpayers Rush to Maximize Year-End Breaks

The federal cap on state and local tax deductions, or SALT, will rise to $40,400 for 2026, giving higher-income households and owners of pass-through businesses a larger but still limited tax shield. Advisers say the best results depend on timing, itemization strategy, and careful coordination before year-end, when many taxpayers can still influence their 2025 return and position themselves for the next filing cycle.

By RDU Global Wire6 min read

Global Health & Biotech04 Oct 2026, 08:00 AM IST

IRS Clarifies Trump Account Rules as Auto-Enrollment Reaches Millions of Children

The Internal Revenue Service has updated the rules governing Trump Accounts, the new child savings vehicles now being rolled out across the United States, as federal officials say more than 60 million children have been automatically enrolled. The change adds urgency for parents, employers and financial institutions trying to understand how the accounts work, who qualifies, and what the default enrollment means for families and markets tied to long-term savings flows.

5 min readRead →

Global Markets & Equities04 Oct 2026, 05:09 AM IST

IRS Clarifies Trump Account Rules as Treasury Moves to Auto-Enroll Millions of Children

The Internal Revenue Service has updated the framework for so-called Trump Accounts, the new tax-advantaged savings vehicles that Treasury says will be automatically created for millions of children. The move could affect as many as 60 million families and adds urgency for parents to understand eligibility, account mechanics, and the long-term investment implications.

5 min readRead →

World Politics & Diplomacy03 Oct 2026, 04:20 AM IST

Spain’s Government Suffers Housing Defeat as Early Election Talk Grows

Spain’s minority government has been dealt a significant political setback after parliament rejected a package of housing measures aimed at easing the country’s deepening affordability crisis. The defeat underscores the fragility of Prime Minister Pedro Sánchez’s coalition and has intensified speculation that an early general election could be brought forward if legislative gridlock persists.

6 min readRead →

Global Markets & EquitiesJust now (05:52 AM IST)

Treasury Says More Than 60 Million Children Have Been Auto-Enrolled in Trump Accounts

The U.S. Treasury says more than 60 million children have been automatically enrolled in newly created Trump Accounts, marking a rapid rollout of one of the administration’s most closely watched savings initiatives. The move could reshape household saving behavior, broaden early-life market exposure and add a new policy variable for investors tracking consumer finance and long-duration equity flows.

5 min readRead →

Global Economy & Central BanksJust now (03:11 AM IST)

IRS Taps Joseph Velli to Help Run Trump Accounts

The Internal Revenue Service has hired Joseph Velli to assist with the administration of Trump accounts, a move that adds a seasoned financial-services executive to a politically sensitive program with broad implications for tax administration and household savings policy. Velli’s background includes board roles at Paychex, Cognizant and Computershare, giving the agency a veteran with deep exposure to payroll, technology and shareholder-services infrastructure.

5 min readRead →

Global Economy & Central BanksJust now (02:10 AM IST)

IRS Taps Joseph Velli to Help Run Trump Accounts

The Internal Revenue Service has hired Joseph Velli to assist with the administration of Trump accounts, a move that brings a veteran of payroll, financial services and shareholder administration into a politically sensitive federal program. Velli’s prior board roles at Paychex, Cognizant and Computershare suggest the agency is drawing on private-sector expertise as it prepares to manage a new savings framework with broad operational demands.

5 min readRead →

Global Markets & EquitiesJust now (01:49 AM IST)

US Treasury Signals Crackdown on Wall Street Tax-Avoidance Trades

The US Treasury has moved to curb investment strategies used by Wall Street firms to reduce tax liabilities, escalating scrutiny of structures that can distort dividend and ETF-related taxation. The warning raises the prospect of tighter rules or enforcement that could affect trading desks, asset managers and income-focused funds across US markets.

5 min readRead →

Global Markets & EquitiesJust now (10:24 PM IST)

U.S. Treasury Targets Tax-Avoiding Investment Trades in New Crackdown Signal

The U.S. Treasury has moved to challenge a set of Wall Street investment strategies that regulators say may be designed primarily to sidestep taxes, according to reports from the Wall Street Journal and other outlets. The notice raises the prospect of tighter scrutiny for transactions used in ETFs, derivatives and related structures, with potential implications for asset managers, crypto-linked funds and other market participants that rely on tax-efficient engineering.

5 min readRead →

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Co-Occurring Entities

Entities frequently referenced alongside Internal Revenue Service:

Washington, D.C.(9)U.S. Treasury Department(2)US Treasury(2)Paychex(2)Joseph Velli(2)Computershare(2)