Microcaptive Disclosure Rule Tossed by Federal Judge
An IRS regulation that was meant to clamp down on microcaptive insurance transactions that the agency sees as abusive was partially struck down by a federal judge Wednesday.
Daily Tax Report ®
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.
NYC’s Second-Home Tax Unites Mamdani, Hochul After Budget Fights
Governor
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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 Speaking
Mamdani’s NY Estate Tax Exemption Should Target Dynastic Wealth
- Danny Werfel By All Accounts
Trump’s IRS Lawsuit Offers Lessons on Privacy and Legal Process
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Jack Castonguay
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Rochelle Hodes
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View MoreDon’t Let Your IP Transfer Pricing Catch You Off Guard
As fast-growing companies expand across borders, failing to align IP ownership with where value is created can trigger significant tax and deal risks.
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.
Tax Developments
View MoreIRS Releases Internal Revenue Bulletin 2026-17
The IRS has released Internal Revenue Bulletin. [IRB 2026-17, 04/20/26]
IRS Issues Final Rule Amending Income Tax Regulations on Qualified Tips Deduction
The IRS has issued its final rule amending income tax regulations relating to occupations that customarily and regularly received tips, as a result of Public Law 119-21, the One Big ...
IRS Issues Notice of Proposed Rulemaking Relating to Rules, Definitions for Excise Tax on Remittance Transfers after December 2025
The IRS has issued a notice of proposed rulemaking relating to proposed regulations that would provide rules and definitions for the excise tax imposed on certain remittance transfers that occur ...
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 Signs Order on Psychedelics to Ease FDA Restrictions
President
Trump, IRS Ask for Pause in $10 Billion Suit Over Tax Data Leak
President
California Senators Float Tax for Firms With Workers on Medi-Cal
California labor groups are working to get a one-time billionaire’s tax on the ballot in November to cover health care funding gaps. The state’s Senate will soon look at another option for offsetting shortfalls.
Alaska Taxation of Municipal Gas Affirmed by State High Court
The gas Anchorage, Alaska, produces for its own use is taxable production for purposes of oil and gas credit calculation, the state high court ruled Friday.
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Brazil Announces Proposal to Increase Monthly Minimum Wage Rate for 2027
The Brazilian Government April 15 announced a proposal to increase, to 1,717 Brazilian reals (US$345) from 1,621 reals (US$325), the monthly minimum wage rate for 2027. The announcement also includes ...
Hong Kong Tax Agency Announces Filing Deadline, Requirements for Employer’s Return of Remuneration, Pensions
The Hong Kong Inland Revenue Department April 16 announced the filing deadline and requirements for Form BIR56A, Employer’s Return of Remuneration and Pensions, for the year ended March 31. The ...
Brazil Gazettes Normative Instruction Increasing Social Security Contribution Rates for Rural Producers
The Brazilian Official Gazette April 14 published Normative Instruction RFB No. 2,321, amending Normative Instruction RFB No. 2,110/2022, on increasing social security contribution rates for rural producers. The normative instruction ...
United Kingdom Supreme Court Issues Judgment on Capital Allowances for Pre-Construction Surveys, Studies for Windfarms
The United Kingdom Supreme Court April 15 issued a judgment in Case No. UKSC/2025/0069, on capital allowances for pre-construction surveys and studies for offshore windfarms. The taxpayers, members of a ...
Denmark Tax Ministry Posts Decision on Taxation of Rental Business Property Transfers
The Danish Ministry of Taxation April 16 posted online National Tax Board Decision AFG No. 9424 for Tax Council Binding Answer No. SKM2026.104.SR, on the income taxation of rental business ...
Croatia Gazettes Ordinance Amending Corporate Income Tax Ordinance
The Croatian Official Gazette April 15 published Ordinance No. 469, amending the Ordinance on Corporate Income Tax. The ordinance includes measures: 1) establishing rules for determining whether investment fund management ...
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