
Trump’s No Tax on Tips Bet Overshadowed by Rising Costs in Vegas
President Donald Trump’s no-tax-on-tips policy, which originated on the campaign trail in Las Vegas and has been intended to be the cornerstone of the Republican midterm campaign, risks being drowned out as the city faces a decline in tourism and broader economic anxieties.

US Magnet Production Tax Breaks Proposed by House China Panel
The leaders of the House Select Committee on China are proposing a new slate of tax breaks for American producers of magnets to shore up US manufacturing and counter Beijing’s dominance in the rare earth global supply chain.
PODCASTS
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
Columns + Commentary
Danny Werfel By All AccountsPentagon Anthropic Deadlock Demands Thorough Checks on AI Use
Andrew Leahey Technically SpeakingGeorgia Gas Tax Holiday Is Affordability Theater That Delays Harm
Andrew Leahey Technically SpeakingMamdani’s NY Estate Tax Exemption Should Target Dynastic Wealth
Danny Werfel By All AccountsTrump’s IRS Lawsuit Offers Lessons on Privacy and Legal Process
Practitioner Insights
View More InsightsBloomberg Tax Journals
View MoreOBBBA Restores R&E Expensing, Alters Multinational Tax Strategy
OBBBA restores immediate domestic R&E expensing while reshaping CAMT, BEAT, FDDEI, and R&D credit planning, KPMG practitioners, Natalie Tucker, Kate Abdoo, Seevun Dunckzar, Hogan Humphries, and Alexander Fox state.
South Africa and Nigeria Drive AI-Enabled Transfer Pricing Audits
Robust taxpayer protection policies, transparent AI governance, strong data integrity practices, and meaningful human oversight are essential to ensuring that digital transformation enhances rather than undermines fairness, KPMG practitioners, Christian Wiesener, Barbara Mbaebie, and Akaoma Osele, say.
Pension Exit Costs Are a Moving Target After Supreme Court Ruling
After the Supreme Court’s ERISA ruling in M & K Employee Solutions, the withdrawal-liability figure an employer receives before leaving a multiemployer pension plan may not be the number that controls after withdrawal, says Hall Benefits’ Samuel Krause.
Tax Developments
View MoreU.S. Appeals Court Upholds Estate Tax Deficiency for Partnership Transfer Under Section 2036
The U.S. Court of Appeals for the Fifth Circuit affirmed the Tax Court’s decision that assets transferred to a limited partnership shortly before the decedent’s death were includible in the ...
U.S. District Court Vacates IRS Notice Eliminating Five Percent Safe Harbor for Certain Clean Energy Projects
The U.S. District Court for the District of Columbia held that IRS Notice 2025-42, which eliminated the Five Percent Safe Harbor method for establishing “beginning of construction” for wind and ...
IRS Issues News Release on Restructuring Security Summit Partnership for Identity Theft Prevention
The IRS issued a news release announcing a restructuring of its public-private partnership with Security Summit partners to strengthen protections and enhance information sharing across the tax system to combat ...
AI's Billion Dollar Tax Breaks: Data Center Incentives Fuel Backlash
States have been competing to attract AI data centers, offering tax breaks to companies like Meta, Amazon, and Google. Now Georgia is at the center of a growing debate over whether those incentives are still worth the cost.
Latest Stories
Thailand Pushes EU Free Trade Deal to Reduce US Reliance
Thailand is racing to secure a free-trade agreement with the European Union as uncertainty over US tariffs pushes countries to forge new economic partnerships, according to a top trade official.
Top Democratic Tax Writer Skeptical of Pre-Midterm Crypto Action
The top Democrat on the House tax writing panel says he’s in no rush to enact bipartisan cryptocurrency tax legislation, even as Republicans move quickly to forge bipartisan buy-in on the issue ahead of the 2026 midterms.
Arizona Proposes Pausing Data Center Tax Breaks for Three Years
Arizona lawmakers have proposed a three-year moratorium on new sales tax breaks for data centers, which would be the most restrictive state-level response to the industry yet.
Mexico’s Gripe With US Trade Pact: South Korea Has Better Deal
As the US and Mexico remain locked in trade talks, Mexican automakers have a complaint with the current agreement: They’re paying some higher tariff rates than competitors in South Korea and Japan.
FROM ACROSS BLOOMBERG TAX
- Daily Tax Report International
- Daily Tax Report State
- Transfer Pricing Report
- The Exchange: Tax Insights & Commentary
Singapore Tax Agency Updates Guidance on GST Treatment of Gifts, Samples
The Singaporean Inland Revenue Authority June 4 updated guidance on the GST treatment of gifts and samples. Topics covered include: 1) businesses aren’t required to account for output GST on ...
France Administrative Court of Appeal Clarifies Input VAT Deductibility, Audit Procedure, Treatment of Fictitious Invoices
The French Administrative Court of Appeal of Paris May 29 issued Decision No. 25PA00482, clarifying input VAT deductibility requirements for subcontractor invoices. The taxpayer, a private security services company, challenged ...
Mexico Gazettes Agreement Setting Amounts, Rates of Tax Incentives for Fuel Production, Related Services
The Mexican Official Gazette June 5 published Agreement No. 85/2026, setting the amounts and rates of the tax incentives for automotive fuel production and related services, from June 6 to ...
Austria Gazettes Notice on Updated Scope of MLI
The Austrian Official Gazette June 5 published Notice No. 70, updating the list of jurisdictions that have ratified the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base ...
Japan MOF Updates Scope of MLI in English, Japanese
The Japanese Ministry of Finance June 8 issued an updated list, in English and Japanese, of jurisdictions that have signed, or have signed and deposited ratification instruments for, the Multilateral ...
European Commission Approves Spain Aid Regime for Cantabria Under Clean Industrial Deal State Aid Framework
The European Commission June 5 issued State Aid Case Decision No. SA.122075, approving Spain’s aid regime for Cantabria under the Clean Industrial Deal State Aid Framework (CISAF). The decision includes ...
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