The 10-year clean-out rule for inherited IRAs and navigating family wealth conversations highlight this edition of PFP Digest.

The IRS provided guidance in Rev. Proc. 2026-17 on the withdrawal of elections to be excepted trades or businesses under Sec. 163(j)(7) for purposes of the business interest limitation and to make a late election under Sec. 168(k)(7) to be exempt from bonus depreciation.

The federal tax law passed in 2025 made the paid family and medical leave credit in Sec. 45S permanent and made substantive changes to enhance the credit and expand its availability. In a letter to Treasury and the IRS, the AICPA requested guidance and offered recommendations to update the existing guidance on matters emerging from revisions to Sec. 45S.

An new PFP podcast and PFP award nominations highlight this edition of the PFP News.

Finance teams can take action to manage business exposure, maintain financial discipline, and plan through current international conflict.