
Treasury’s Book-Tax Guidance Comes Down on Business’s Side
The Treasury Department signaled it’s putting its thumb on the scale in big business’s favor over the corporate book-income tax, easing up on how tough the tax should be on companies.

The Treasury Department signaled it’s putting its thumb on the scale in big business’s favor over the corporate book-income tax, easing up on how tough the tax should be on companies.

Karen Kelly, formerly the top official at the Justice Department Tax Division, sits down with Bloomberg Tax reporter Erin Schilling to discuss DOJ’s tax enforcement priorities, changing strategies, and how taxpayers should prepare.

GOP lawmakers are emphasizing fraud in Obamacare exchanges, as the effort to extend the enhanced tax credits for people enrolled in marketplace plans appears to be dying down in the Senate.



Transfer pricing trends increase advanced pricing agreements appeal for taxpayers seeking certainty amid heightened enforcement risks.
CAMT imposes costly compliance burdens on many firms while raising little revenue.
Section 6435’s fuel tax refund for downstream parties stalls due to appropriation limitations.
The IRS has published a notice providing interim guidance on the special depreciation allowance for qualified production property under I.R.C. §168(n), as added by the One Big Beautiful Bill Act. ...
The IRS has published a notice providing additional interim guidance for the corporate alternative minimum tax, expanding adjusted financial statement income (AFSI) adjustments for various business expenses and transactions. The ...
The IRS has published a notice providing updated corporate bond monthly yield curves, segment rates, and Treasury security interest rates that pension plans must use for funding calculations. The notice ...
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.
President
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The Treasury Department and the IRS issued guidance on the expansion of the “bonus depreciation” tax break on capital spending to additional types of property.
The US Supreme Court struck down President
The Canadian Official Gazette Feb. 18 published Act No. R.S.C., 1985, c. 2, on the consolidated text of the Income Tax Application Rules, current as of Feb. 4. [Canada, Government ...
The Canadian Official Gazette Feb. 18 published Act No. R.S.C., 1985, c. 1, on the consolidated text of the Income Tax Act, current as of Feb. 4. [Canada, Government Legal ...
The Montenegrin Parliament (Skupstina) Feb. 16 accepted for consideration Bill No. 19-6/26-2, amend the Law on Contributions for Mandatory Social Insurance. The bill includes measures to: 1) introduce a mandatory ...
The Austrian Federal Ministry of Finance Feb. 18 posted Federal Finance Court Decision No. RV/7100468/2018, clarifying the deductibility of guaranteed payments as business expenses for the managing director and shareholder ...
The Canadian Official Gazette Feb. 18 published Regulation No. C.R.C., c. 945, on the consolidated text of the Income Tax Regulations, current as of Feb. 4. [Canada, Government Legal Database, ...
The French General Directorate of Public Finance Feb. 18 updated the administrative doctrine on meal expense deductions, with the 2026 values for taxpayers subject to the commercial profits tax (BIC) ...
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