A new type of savings account for children is officially here. Created by the 2025 tax legislation commonly known as the One Big Beautiful Bill Act — and now referred to by the IRS as the Working Families Tax Cuts — Trump Accounts are designed to give children an early start on long-term investing.

Funding began July 4, 2026. Families have moved quickly: the IRS announced in early July that more than 4 million children had already been signed up, with over 1 million covered by elections for the $1,000 federal contribution.

A person does not need to live in the US for US estate tax issues to arise. Foreign individuals who own US real estate, investments, or other US assets may leave their estate with a federal filing requirement, potential estate tax liability, and possible state-level obligations. Learn when Form 706-NA may be required and why the $60,000 threshold can catch families by surprise.

Starting in 2026, South Carolina will lower income tax rates and change how taxes are calculated. These updates could reduce your tax bill, but the impact will vary. Here’s a quick look at what’s changing.

The U.S. Supreme Court ruled 6–3 that tariffs imposed under the International Emergency Economic Powers Act (IEEPA) are unlawful, holding that the President lacks authority to impose broad-based tariffs without clear congressional approval. With approximately $175 billion collected under these now-invalid tariffs, the government could face substantial refund exposure. Importers should begin reviewing their entries now, as refund procedures have not yet been announced.

The IRS has released new guidance explaining upcoming changes to how taxpayers send and receive money from the federal government. Under a recent Executive Order, the Treasury Department is moving toward electronic payments for tax refunds and tax balances due. The goal is to make transactions faster, safer, and more efficient while reducing fraud and paper check processing. Most taxpayers already use direct deposit, but the new guidance encourages broader use of electronic payment options and outlines limited exceptions for those who cannot use digital methods.

The Tax Cuts and Jobs Act (TCJA) of 2017 brought significant tax reductions for individuals and businesses. However, many of its provisions are set to expire on December 31, 2025, leading to potentially higher tax burdens. Congress is currently debating potential extensions or modifications to certain provisions. We outline key changes and strategies to help you prepare.