2026-09-14 The Picasso and the Income

This week we look at:

Final Regulations Restore the Car Loan Interest Deduction Under T.D. 10054 Fourth Circuit Affirms $2.9M Willful FBAR Penalty -- United States v. Rund Tax Court Clarifies BBA Extension Mechanics -- Katanga Properties Treasury Proposes Sweeping QOF Certification and Reporting Regulations Proposed Regs Allocate Foreign Source Deductions Under Sections 250 and 904 Unrestricted $16.5M Art Deal Funds Are Taxable Income -- Tunkl v. Commissioner