IRS roundup: May 29 – June 8, 2026

Short summary

The IRS issued guidance on foreign sovereign wealth investment tax exemptions with grandfathering protections, proposed raising estate tax closing letter fees from $56 to $76, announced reclassification of career positions under Trump's Schedule Policy/Career order, and signaled Q3 2026 guidance on clean energy tax credit restrictions. Recent court decisions clarified air transportation excise tax scope and wrongful IRS collection procedures.

• •IRS guidance on sovereign wealth investment exemptions with 90-day transitional relief for existing positions
• •Estate tax closing letter fees increase to $76; clean energy credit restrictions to be clarified Q3 2026
• •Court rulings narrow excise tax applicability and expand wrongful IRS collection liability

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