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We pull together the items we deem most important to provide updates you need to know for your business. Subscribe to our Tax Bytes mailing list to receive these updates. 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 UK government consults on reform to taxation of UK resident members of LLCs and other reverse hybrids EU tax omnibus proposal: Simplification of EU direct tax framework EU VAT: Loan servicing exemption narrowed in securitizations __________ If you have any questions about this legal briefing, please feel free to contact any of the attorneys listed under 'Related People/Contributors' or the Eversheds Sutherland attorney with whom you regularly work. The materials on the Eversheds Sutherland website are for general information purposes only and do not constitute legal advice. While reasonable care is taken to ensure accuracy, the materials may not reflect the most current legal developments. Eversheds Sutherland disclaims liability for actions taken based on the materials. Always consult a qualified lawyer for specific legal matters. To view the full disclaimer, see our Terms and Conditions or Disclaimer section in the footer. 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The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the member firms or their controlled, managed or affiliated entities are in a partnership or are part of a global entity. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client. For information on Konexo please also see the Legal Notices page of this website ATTORNEY ADVERTISING - Prior results do not guarantee a similar outcome. Unless otherwise indicated, attorneys at Eversheds Sutherland (US) LLP are not certified by the Texas Board of Legal Specialization.

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Tax Bytes: Week of June 29, 2026

June 30, 2026

United States

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.

Subscribe to our Tax Bytes mailing list to receive these updates.

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

UK government consults on reform to taxation of UK resident members of LLCs and other reverse hybrids

EU tax omnibus proposal: Simplification of EU direct tax framework

EU VAT: Loan servicing exemption narrowed in securitizations

__________

If you have any questions about this legal briefing, please feel free to contact any of the attorneys listed under 'Related People/Contributors' or the Eversheds Sutherland attorney with whom you regularly work.

The materials on the Eversheds Sutherland website are for general information purposes only and do not constitute legal advice. While reasonable care is taken to ensure accuracy, the materials may not reflect the most current legal developments. Eversheds Sutherland disclaims liability for actions taken based on the materials. Always consult a qualified lawyer for specific legal matters. To view the full disclaimer, see our Terms and Conditions or Disclaimer section in the footer.

Charles C. Hwang

Senior Counsel

Washington, DC, United States

Katherine Meyers Cohen

Of Counsel

Atlanta, United States

Brighid O’Donoghue

Associate

Washington, DC, United States

Latest Insights

legal updates
Tax Bytes: Week of June 29, 2026
podcasts and webcasts
Carbon Trading: Navigating Voluntary and Compliance Markets
legal updates
UK: FCA consults on changes to its penalty and decision-making policies
legal updates
Investing in All of America Act increases SBIC leverage and institutional capital availability

Latest News

Latest Events

virtual | July 08, 2026
Energy Transition Series - Project Financing BESS: Comparing the UK market to emerging debt structures in Continental Europe
virtual | September 10, 2026
UAE - Employment law in the Dubai International Financial Centre
in-person | September 10, 2026
Managing AI use in the workplace: what every UK HR team needs to know
in-person | September 17, 2026
Basic foundations of US employment law

Tabs Label

legal updates

June 30, 2026

Tax Bytes: Week of June 29, 2026

podcasts and webcasts

June 29, 2026

Carbon Trading: Navigating Voluntary and Compliance Markets

legal updates

June 25, 2026

UK: FCA consults on changes to its penalty and decision-making policies

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legal updates

June 25, 2026

Investing in All of America Act increases SBIC leverage and institutional c...

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Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed or affiliated firms and the members of Eversheds Sutherland (Europe) Limited and Eversheds Sutherland (Africa) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the member firms or their controlled, managed or affiliated entities are in a partnership or are part of a global entity. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client. For information on Konexo please also see the Legal Notices page of this website
ATTORNEY ADVERTISING - Prior results do not guarantee a similar outcome.
Unless otherwise indicated, attorneys at Eversheds Sutherland (US) LLP are not certified by the Texas Board of Legal Specialization.

Tax Bytes: Week of June 29, 2026

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