House GOP Spending Bill Floats Cuts to IRS, SEC Funding

House Republicans floated annual funding cuts to the IRS and the District of Columbia, but called for a slight increase to the General Services Administration buildings fund as part of a measure that will likely face stiff opposition from Democrats.

Corporate Tax Disclosures Let Investors Peer Into the Black Box

Accounting Firms Navigate Compensation as AI Tools Upend Work

IRS Pivots to Fill Holes in Tax Filing Season After DOGE Cuts

How Tax Administration Reforms Could Pass Congress This Year

Bloomberg Tax Journals

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Puerto Rico’s Act 60: When Are Pre-Move Bitcoin Gains Taxed?

An analysis of whether Bitcoin, and other cryptocurrencies owned prior to relocating to Puerto Rico constitutes “tainted property,” and the significant implications for Act 60 residents whose capital gains may remain subject to US tax.

Australia PepsiCo Case Raises Royalty Questions for South Africa

In light of the PepsiCo tax case in Australia, the South African Revenue Service may argue that certain payments made under a supply or distribution agreement are royalties subject to withholding tax.

Increased Advance Pricing Agreement Demand Puts Pressure on APMA

APAs remain increasingly valuable for managing transfer pricing risk despite APMA resource constraints.

Tax Developments

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U.S. District Court Vacates IRS Listed Transaction Rule for Micro-Captive Insurance Arrangements

The U.S. District Court for the Southern District of Texas partially granted summary judgment to taxpayers challenging IRS disclosure regulations for micro-captive insurance transactions, vacating the agency’s designation of certain ...

U.S. District Court Authorizes Qualified Settlement Fund to File Returns, Pay Taxes

The U.S. District Court for the Southern District of Ohio granted the taxpayer’s motion authorizing the administrator of a court-established qualified settlement fund (QSF) to file federal and state tax ...

IRS Issues SIFL Rates for 2026 Aircraft Fringe Benefits

The IRS has issued revenue ruling providing the terminal charge and Standard Industry Fare Level (SIFL) mileage rates for valuing noncommercial flights on employer-provided aircraft under I.R.C. §61 and Treas. ...

IRS Shakeup: How Is the US Tax Agency Adapting to Trump's Vision?

Since President Donald Trump took office, the IRS has faced transformative changes, including a substantial reduction in its workforce and the appointment of seven different commissioners or acting commissioners.

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