Supreme Court Rules New Jersey Nonprofit Can Immediately Challenge State Donor Subpoena

U.S. Supreme Court ruled that a New Jersey nonprofit could immediately challenge a state subpoena seeking sensitive donor information rather than waiting until the government tried to enforce it. The Court found that simply being asked to hand over the data constituted a legal injury because it could scare away donors.

The Supreme Court case involving the New Jersey nonprofit donor subpoena will be sent back to the lower court for further proceedings. U.S. Supreme Court agreed to hear 59 cases, scheduled 58 for argument, and dismissed one case.

U.S. Supreme Court had issued 29 opinions plus seven decisions without argument in the October 2025 Term. S. 3 opinions per year.

A federal trade court struck down President Trump’s use of Section 122 to impose a new 10% tariff on most imports. The ruling reinforces concerns that the Constitution assigns tariff authority to Congress and that courts will not permit the executive branch to impose sweeping tariffs through broad emergency statutes without clearer congressional authorization.

U.S. Locales on housing costs, taxes, healthcare, crime, air quality, and natural hazard risk to determine the best spots for retirees in 2026. Raleigh, NC was one of the top 25 best places to retire in the 2026 Forbes ranking. In 2025 the FTC received more than one million reports about imposter scams.

5 billion. Most fraud contacts in 2025 began by text message while the biggest dollar losses from 2025 fraud were tied to social media. Carolyn Ann Tavenner of Fort Worth, Texas, passed away on January 27, 2025.

Carolyn Ann Tavenner announced plans to retire on March 2, 2019 after 49 years at the IRS. Form 1040-EZ was eliminated, along with Form 1040A, for the 2018 tax year filed in 2019. Form 1040-EZ no longer exists.

The IRS updated its Conservation Easement site with expanded information on abusive conservation easement transactions, recent court decisions, investor warning signs, and the risks of inflated deductions. The IRS will soon announce a time-limited settlement opportunity for eligible taxpayers and partnerships involved in abusive conservation easement transactions.

The IRS is accepting applications for 2027 Low Income Taxpayer Clinic matching grants from May 6 through July 6, 2026.

Eligible organizations for 2027 Low Income Taxpayer Clinic grants may request up to $200,000. The IRS is accepting applications for the IRS Advisory Council through June 5, 2026, for three-year terms beginning in January 2027. The IRS Advisory Council advises IRS leadership on tax administration issues.

New federal student loan rules take effect July 1, 2026 and will end unlimited Graduate PLUS borrowing. New federal student loan rules effective July 1, 2026 impose annual and lifetime loan caps, with higher limits reserved for 11 designated professional degree programs.

The Department of Education declined to classify advanced accounting degrees as professional degrees for the new student loan caps.

A woman who sold her eggs in 2015 was paid $20,000. In Perez v. C. 4 (2015), the Tax Court ruled that the IRS could tax egg donations as contracted-for services. Section 1250(a) can recharacterize certain gain as ordinary income to the extent of additional depreciation, meaning depreciation in excess of straight-line depreciation.

Long-term capital gain attributable to depreciation on section 1250 property may be treated as unrecaptured section 1250 gain, generally taxed at a maximum rate of 25%. Revenue Rulings are published in the Internal Revenue Bulletin. Revenue Rulings represent the IRS’s stated position on the tax treatment of a given situation and taxpayers may rely on them in substantially similar circumstances.

Private letter rulings may not be cited as precedent by anyone other than the taxpayer who received them. The deadline for calendar year tax-exempt organizations to file annual reports and returns including Forms 990, 990-EZ, and 990-PF is May 15, 2026. The due date for 2026 Q2 estimated tax payment is June 15, 2026.

U.S. taxpayers living abroad to file without a further extension for 2026 is June 15, 2026; payment was due April 15. The article was published on May 09, 2026 at 10:00am EDT and updated on May 9, 2026 at 11:43am EDT.

The Tax Breaks newsletter is written by Kelly Phillips Erb, Senior Writer at Forbes. com reported all of the above details.