IRS Gets Money-Moving Authority at Same Time It’s Losing Funds
Congressional appropriators gave the IRS a lifeline to shift money around to stave off funding cliffs, but some are saying it might not be enough.
Daily Tax Report ®
Trump Holds Broad Power Over Which Federal Jobs Lose Protections
President Donald Trump has assumed essentially unlimited discretion to choose how many government employees lose their job security, under a rule that critics say threatens to upend the nonpartisan professional nature of the federal civilian workforce that has existed since the 1880s.
States Target Data Center Tax Breaks With Rollbacks, Guardrails
Tax incentives for data centers are under fire across the country as state lawmakers seek to repeal them or raise the bar to qualify for them.
PODCASTS
Fiscal Stress Permeates Government Accounting Rule Writer's Work
US Tax Carve-Out Beats Retaliation, OECD Business Rep Says
OECD Deal Success Hinges on Implementation, Rep. Estes Says
Making Sense of the Global Tax Carve-Out for US Companies
Columns + Commentary
Danny WerfelMinnesota Probes Reveal That Fraud Prevention Requires Tradeoffs
Andrew Leahey Technically SpeakingVolkswagen Move to Vacate Onshoring Shows US Tariff Policy Flaws
- Andrew Leahey Technically Speaking
NY Budget Leaves the Future Vulnerable to Avoid Political Pain
- Andrew Leahey Technically Speaking
IRS Partnership Audit Brain Drain Is an Opportunity for States
Practitioner Insights
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Tom Yamachika
Tax Foundation of Hawaii
Randall Fox
DLA Piper
Bloomberg Tax Journals
View MoreCan Soaring Tech Salaries Still Qualify for R&D Tax Credits?
Elite engineers’ soaring compensation packages are complicating R&D tax credit claims under IRC §41, requiring companies to enhance their audit readiness with more rigorous documentation of qualified research activities.
Why Partnerships Are Surprised by High Imputed Underpayments
Imputed underpayments under the Bipartisan Budget Act of 2015 are often unexpectedly high due to the inclusion of non-income items in calculations, affecting partnerships during audits and Administrative Adjustment Requests.
DOJ Tax’s Dissolution Forces a High-Stakes Reset for IRS and DOJ
The DOJ Tax Division’s dissolution necessitates a post-mortem of the IRS-DOJ partnership to identify the critical elements for U.S. tax enforcement and voluntary compliance.
Tax Developments
View MoreU.S. Tax Court Memorandum Decision Upholds IRS’s Penalty Award, Validates Installment Agreement Resolution
The U.S. Tax Court upheld the IRS’s decision regarding a taxpayer’s penalties and interest, affirming that the IRS acted within its discretion by resolving the case through an installment agreement. ...
U.S. Tax Court Memorandum Decision Awards Limited Research Tax Credits for Poultry Production, Rejects Penalties
The U.S. Tax Court, in a memorandum decision, held that the taxpayer was entitled to some research tax credits, but in lower amounts than claimed, for qualified research activities related ...
IRS Releases Internal Revenue Bulletin 2026-7
The IRS has released Internal Revenue Bulletin 2026-7. [Internal Revenue Bulletin 2026-7 (Feb. 9, 2026)]
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.
Latest Stories
Trump Removes India’s 25% Russia-Related Tariff After Deal
President
Trump Sets Process for Iran Tariffs But Does Not Apply Them
President
Global Tax Redo Leaves Africa Still Vulnerable to Revenue Loss
African nations face a continued risk of losing revenue to developed countries that apply the global minimum tax despite redesigned rules that feature a carve-out for US multinational companies, a group of the continent’s countries argued.
Treasury Urged to Ease Documentation in Foreign-Income Guidance
The Treasury Department and the IRS should modify and simplify a documentation requirement that is part of guidance on how companies will move to a new approach to counting their share of subsidiaries’ foreign income, an accounting group said.
FROM ACROSS BLOOMBERG TAX
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- The Exchange: Tax Insights & Commentary
Japan, Philippines Initial New DTA
The Japanese Ministry of Foreign Affairs Feb. 4 announced the initialing of a new DTA with the Philippines, to replace the 1980 DTA and the 1980 and 2006 protocols currently ...
France Senate Considers Bill to Ratify New DTA, Protocol With Cyprus
The French Senate Jan. 28 accepted for consideration Bill No. 314, to ratify the new DTA and protocol with Cyprus, signed Dec. 11, 2023, which will replace the 1981 DTA ...
United Kingdom Tax Agency Posts Synthesized Text of DTA With Bulgaria
The United Kingdom HM Revenue and Customs Feb. 4 posted a synthesized text of the 2015 DTA with Bulgaria, and the Multilateral Convention to Implement Tax Treaty Related Measures to ...
Czech Republic MOF Updates List of DTAs
The Czech Ministry of Finance Feb. 4 updated the list of DTAs currently in force to include information on the amendments to the 1994 DTA with Indonesia, which entered into ...
Canada Gazettes Consolidated Text of Income Tax Act
The Canadian Official Gazette Feb. 3 published Act No. R.S.C., 1985, c. 1, on the consolidated text of the Income Tax Act, current as of Jan. 19. [Canada, Government Legal ...
Canada Gazettes Consolidated Text of Income Tax Regulations
The Canadian Official Gazette Feb. 3 published Regulation No. C.R.C., c. 945, on the consolidated text of the Income Tax Regulations, current as of Jan. 19. [Canada, Government Legal Database, ...
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