Tax Bytes: Week of June 29, 2026
June 30, 2026
Welcome to the latest edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. We pull together the items we deem most important to provide updates you need to know for your business.
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Tax developments
Cast a wider net: Notice 2026-36 previews new era for the Section 4960 excise tax
The One, Big, Beautiful Bill Act generally expanded the definition of “covered employee” for the purposes of the excise tax on excessive compensation to covered employees of applicable tax-exempt organizations under section 4960 of the Internal Revenue Code. On June 22, 2026, Treasury and the IRS published Notice 2026-36 announcing an intent to issue proposed regulations clarifying the changes to the definition of “covered employee.”
Read the full alert here.
Recent Eversheds Sutherland Tax insights
EU tax omnibus proposal: Simplification of EU direct tax framework
EU VAT: Loan servicing exemption narrowed in securitizations
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