2026-07-20 IRS Expands Business Tax Accounts

This week we look at: Partnership Recourse Rules: Conditional DROs will not establish EROL under § 1.752-2. Mileage Rate Adjustment: Business standard mileage rate rises to 76 cents on July 1, 2026. Business Tax Account: Modernized self-service portal expands features but requires active annual maintenance. Litigation Legal Fees: FCRA settlements are taxable gross income without above-the-line deduction. Corporate Reorganizations: Tax Court invalidates regulation limiting 100% DRD in post-Loper Bright era. ERC Litigation Realities: Exhaustion loophole rejected; notice pleading standards approved in refund suits. Conservation Easements: Valuation must be grounded in immediate local market demand, not speculation.An audio only version of this week’s broadcast can be streamed or downloaded below. 2026-07-20 IRS Expands Business Tax Accounts Edward K. Zollars, CPA (Arizona) Download You can download a PDF with articles for this week’s update and a copy of this week’s slides.Current Federal Tax Developments July 20, 2026Slides