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.

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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OBBBA 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

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U.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.

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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 ...

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