October 2026
Make the Final Quarter Count
As the year enters its final stretch, now is the time to look ahead and make sure you’re prepared for what comes next. From year-end tax planning and upcoming federal tax changes to evolving rules and reporting responsibilities, a little preparation today can help prevent surprises tomorrow. This month, we’re sharing insights to help you ask the right questions, make informed decisions, and finish 2026 on solid footing.
In This Issue:
- IRS introduces automatic penalty relief for taxpayers with a strong compliance history
- Form 990 filing mistakes that can undermine your nonprofit’s credibility
- Divorce and your tax return: what the settlement may not resolve
- The SEC may rescind its climate rules. What should private companies do now?
IRS introduces automatic penalty relief for taxpayers with a strong compliance history
The IRS is replacing its First Time Abate program with a new Automatic Exemption from Penalty (AEP), which will automatically prevent certain penalties for eligible taxpayers with a strong compliance history. Starting with 2025 tax year returns and 2026 quarterly returns, qualifying individuals and businesses may avoid failure-to-file, failure-to-pay, and failure-to-deposit penalties without needing to call the IRS or submit a separate request. Understanding the eligibility requirements and transition timeline is key to making the most of this change.
Form 990 filing mistakes that can undermine your nonprofit’s credibility
Form 990 is more than a tax return; it’s a public document that donors, grantmakers, and regulators use to evaluate your nonprofit. Common mistakes in filing, reconciliation, and narrative disclosures can raise questions about financial stewardship or put your tax-exempt status at risk. This article outlines the key errors to avoid and how to build a more reliable year-over-year filing process.
Divorce and your tax return: what the settlement may not resolve
A divorce settlement divides assets and establishes legal rights, but it does not resolve every tax question that follows. Filing status, child-related benefits, property basis, retirement transfers, and prior joint return liability all require a separate tax review. Understanding where the settlement ends and tax law begins can help you avoid costly surprises after the divorce is final.
The SEC may rescind its climate rules. What should private companies do now?
The SEC may rescind its 2024 climate disclosure rules, but private companies should not assume their reporting obligations disappear. Contracts, state laws, and business relationships may still require climate and emissions information regardless of what the SEC does. Here is how to assess what still applies to your company and what you can safely scale back.
