Simply receiving an inheritance -- whether cash, real estate or investments -- does not automatically trigger federal income tax, and beneficiaries generally aren't required to report the inherited amount as income. However, a few states impose their own inheritance taxes, which are typically paid by the beneficiary rather than the estate. Inherited real estate and investments may benefit from a stepped-up basis, potentially reducing capital gains taxes if sold. Kiplinger (8/5)

Audrey Hepburn, actor, humanitarian

A survey by the Investment Adviser Association, ACA Group and Yuter Compliance Consulting found that 85% of advisory firms view AI as the top compliance issue this year, up from 57% in 2025. The survey also found 72% of firms saying they have heightened their AI compliance testing in the last year, while 59% said they have created formal AI governance committees. InvestmentNews (7/29)

The Treasury Department and the IRS have begun the regulatory process to implement the Saver's Match program, according to a notice issued last week. The Saver's Match, part of the SECURE 2.0 retirement legislation package, will offer eligible taxpayers a federal matching contribution of up to $1,000 annually for retirement savings starting in 2027. The notice also states that TrumpIRA.gov is set to launch Jan. 1, providing information about low-cost IRAs and increasing public awareness of the Saver's Match. 401(k) Specialist (8/7)

Since the Securities and Exchange Commission began cracking down on off-channel business communications in 2021, advisors have increasingly used artificial intelligence in undocumented ways, posing compliance risks, writes Dan Zimon of Teranode. To create a defensible AI process, Zimon urges firms to move beyond prohibitive policies and document AI use and its role in the advisory workflow. Advisor Perspectives (8/5)