1. Business Tax Account: designated officials must renew
Business taxpayers registered as a designated official for an S or C corporation in the Business Tax Account (BTA) were required to revalidate their status by July 29, 2026, to renew their role. Annual renewal is mandatory to keep access to the Business Tax Account. If you missed the deadline, renew as soon as possible to restore access. For the latest on BTA, including expanded features, see the IRS summer 2026 fact sheet.
2. Disaster tax relief for four states
The IRS granted disaster-related tax relief for businesses and individuals in the following states. Affected taxpayers now have until November 2, 2026, to file various federal business and individual tax returns and make payments:
- Mississippi — severe storms, straight-line winds, tornadoes and flooding beginning May 6, 2026.
- Wisconsin — severe storms, tornadoes and flooding beginning April 13, 2026.
- Louisiana — Tropical Storm Arthur beginning June 17, 2026.
- Michigan — severe storms, tornadoes and flooding beginning April 10, 2026.
The IRS automatically applies filing and payment relief to taxpayers located in a covered disaster area. If you live or run a business outside the covered area but were still affected, call the IRS Special Services line at 866-562-5227 to request relief. The Tax relief in disaster situations page has the most current information.
3. New rules on Charitable Remainder Annuity Trusts
Treasury and the IRS issued final regulations identifying certain arrangements that claim to be Charitable Remainder Annuity Trusts as "listed transactions." These transactions are marketed as a way to eliminate ordinary income and/or capital gain on the sale of property. Material advisors and certain participants must file disclosures with the IRS and face penalties for failure to disclose. For details, see the IRS news release.
Why this matters for non-residents and foreign founders
If you own a U.S. S or C corporation, the Business Tax Account is your central hub for managing federal tax matters online — so keeping your designated-official access current is worth a calendar reminder each year. Disaster relief is applied automatically by location, but if you operate remotely or your records sit outside the disaster area, you may need to call the IRS to claim it. And be wary of any "trust" strategy marketed as a way to erase income or capital gains: the IRS has now formally flagged these as listed transactions, which carry disclosure requirements and penalties.