Treasury and IRS are set to publish REG-119986-25 (Proposed Regulations) in the Federal Register on September 4, 2026, providing that a private school would not qualify for tax-exempt status if it discriminates based on color, race, or ethnicity in any school-related policy or program, including classifications intended to promote diversity or remedy prior discrimination.

Treasury and IRS published REG-109082-25 (Proposed Regulations) in the Federal Register, proposing to eliminate certain reporting requirements for trusts whose charitable deductions are from contributions made by passthrough entities.

In Notice 2026-36 (Notice), IRS announced proposed regulations and transitional relief after OBBBA for modifications of the excise tax on excess compensation paid by tax-exempt organizations, including an expanded definition of "covered employee."

This case study illustrates the use of a CRT to defer gain on the sale of depreciated rental property.