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Balochistan govt employees to face Rs500 tax deduction
Balochistan provincial government employees in Pakistan are set to face a Rs500 tax deduction, indicating a new or revised payroll…
Telangana HC: Tax Department Can’t Retain Tax Collected Twice on the Same Income U/S 264
The Telangana High Court ruled that the tax department cannot retain tax collected twice on the same income under Section…
TDR Received Against Surrender of Land Is Taxable as Capital Gains: ITAT Bangalore
The Income Tax Appellate Tribunal (ITAT) Bangalore has ruled that Transferable Development Rights (TDR) received in exchange for surrendering land…
Delhi HC Cancels Tax Penalty U/S 271(1)(c) Due to Defective Notice
The Delhi High Court cancelled a tax penalty imposed under Section 271(1)(c) of the Income Tax Act, finding that the…
H.R. 9500, Tax Relief for Fraud Victims Act
The Congressional Budget Office has published a cost estimate for H.R. 9500, the Tax Relief for Fraud Victims Act, a…
IRS Issues Proposed Regs on Eligible Investments for Trump Accounts
The IRS has issued proposed regulations clarifying eligible investments for so-called 'Trump Accounts' — a new tax-advantaged savings vehicle established…
Proposed rules would restrict Trump account eligible investments
Proposed rules would restrict the eligible investments available within Trump accounts, a new tax-advantaged savings vehicle. The regulations aim to…
Proposed rules would restrict Trump account eligible investments
Proposed rules would restrict the eligible investments available within Trump accounts, the new tax-advantaged savings accounts created under the One…
IRS Adds Tax Compliance Report to Individual Online Accounts
The IRS has introduced a new Tax Compliance Report feature within individual online taxpayer accounts, giving filers direct access to…
IRS to Open Office of Conservation Easements
The IRS has announced plans to establish a dedicated Office of Conservation Easements, signaling intensified enforcement focus on syndicated and…
IRS shifts approach to conservation easement disputes
The IRS is shifting its approach to conservation easement disputes, signaling a change in enforcement strategy regarding these frequently litigated…
IRS shifts approach to conservation easement disputes
The IRS is shifting its approach to conservation easement disputes, signaling a change in how it handles these long-contested tax…
5 Tax Moves Retirees Should Consider Before the End of 2026
The article outlines five tax planning strategies retirees should consider before year-end 2026. These likely include Roth conversions, required minimum…
The Trump Administration Slashed Taxes for H&R Block and Raised Costs for Tax Filers
An analysis from the Institute on Taxation and Economic Policy (ITEP) argues that Trump administration tax policies have benefited companies…
Husted Introduces Bill to Let Homebuyers Tap 529 Savings for Down Payments
Representative Husted has introduced legislation that would allow homebuyers to use funds from 529 education savings accounts to cover down…
Leaving the Netherlands? You May Still Have to File a Dutch Income Tax Return
Individuals who emigrate from the Netherlands may still be required to file a Dutch income tax return after leaving. The…
Prediction Markets Contracts and Federal Income Tax: Wagering, Investing, or Something Else?
This article examines the uncertain federal income tax treatment of prediction market contracts in the United States, analyzing whether gains…
Once an Inquiry Under Section 148A(a) Is Approved, the Assessing Officer Cannot Skip It: Chhattisgarh High Court Quashes Reassessment
The Chhattisgarh High Court has quashed a reassessment order, ruling that once an inquiry under Section 148A(a) of the Income…
Delhi ITAT Deletes Tax Penalty on Salaried Person for Failing to File ITR Even With ₹30 Lakh Income
The Delhi Income Tax Appellate Tribunal (ITAT) deleted a penalty imposed on a salaried individual who failed to file an…
IRS Regs Would Block Certain Immigrants From Claiming Refundable Tax Credits
The IRS has proposed regulations that would prevent certain immigrants from claiming refundable tax credits, including the Earned Income Tax…
Five Things to Know About the Trump Administration’s New Effort to Deny Tax Credits to Lawfully Present Immigrants
The Trump administration is pursuing efforts to deny tax credits to lawfully present immigrants, raising significant personal income tax policy…
IRS Aims To Limit Tax Credits For Authorized Immigrants
The IRS is moving to restrict tax credit eligibility for authorized immigrants, including those with certain visa statuses or work…
Shaheen: Jurisdictional Nexus and Creditability
This article examines the legal concepts of jurisdictional nexus and creditability in the context of foreign tax credits, likely analyzing…
The Complete Playbook for Fighting CRA Tax Reassessments: When CRA Denies Your Tax Losses
This article provides a practical guide for Canadian taxpayers and advisers on challenging Canada Revenue Agency (CRA) reassessments that deny…
Carried Interest Tax Hike Would Barely Dent Federal Debt, Analysis Finds
An analysis finds that raising taxes on carried interest — the share of profits received by private equity and hedge…
FBR, ICAP jointly organise seminar on filing tax return for TY 2026
Pakistan's Federal Board of Revenue (FBR) and the Institute of Chartered Accountants of Pakistan (ICAP) jointly organised a seminar focused…
IT Department Verifies Suspicious Foreign Remittances
India's Income Tax Department is scrutinizing suspicious foreign remittances, verifying transactions that may involve undisclosed income or tax evasion through…
ESOP Buy-Backs Under The Taxman’s Lens
This article examines the Indian tax authority's scrutiny of Employee Stock Option Plan (ESOP) buy-backs, analyzing how buyback transactions involving…
Meet Floris: €300 an Hour, 26 Billable Hours and Somehow 1,225 Hours Worked
A Dutch tax case examines the self-employed hours criterion required to claim the self-employment deduction (zelfstandigenaftrek). The article details how…
CBDT turns its attention to Form 15CB – and to the Accountants who sign it
India's Central Board of Direct Taxes (CBDT) has shifted focus to Form 15CB, the certificate issued by chartered accountants for…
Tax Noncompliance and the Gig Economy
This article examines tax noncompliance issues arising from the gig economy, where platform-based workers and freelancers often underreport income due…
Michigan enacts housing opportunity credit against individual or corporate income tax
Michigan has enacted a new housing opportunity tax credit applicable against both individual and corporate income tax liabilities. The credit…
Mamdani Administration Skipping NYC Council Hearing on Pied-à-Terre Tax, Sparking Criticism
The Mamdani administration in New York City is facing criticism for declining to attend a City Council hearing on a…
FBR, KTBA discuss income tax return design & taxpayer experience
Pakistan's Federal Board of Revenue (FBR) met with the Karachi Tax Bar Association (KTBA) to discuss improvements to the income…
New Delhi ITAT: Interest U/S 28 of Land Acquisition Act Not Taxable Separately as Income from Other Sources
The New Delhi Income Tax Appellate Tribunal (ITAT) ruled that interest awarded under Section 28 of the Land Acquisition Act…
Rejected of application done under Section 119(2)(b) Application: Is It Appealable?
This article examines whether a rejection of an application filed under Section 119(2)(b) of the Indian Income Tax Act —…
87A Rebate: When the Computer Said “No”, Nagpur ITAT Said “Yes”
The Nagpur Income Tax Appellate Tribunal ruled in favour of taxpayers denied the Section 87A rebate by automated tax processing…
Ex-Goldman Exec Ordered To Pay $860K For Not Filing FBAR
A former Goldman Sachs executive has been ordered by a court to pay $860,000 in penalties for failing to file…
The 2/37 Haircut on Distributable Net Income: What Fiduciaries Need to Know
Fiduciaries administering trusts and estates must understand the 2/37 haircut rule that reduces distributable net income (DNI) when certain deductions…
Billionaire Mark Cuban Blasts ‘Insane’ Ro Khanna Wealth Tax Proposal
Billionaire Mark Cuban has publicly criticized Rep. Ro Khanna's proposed wealth tax, calling it 'insane.' The proposal targets ultra-high-net-worth individuals…
Law Professor Appeals Remote Taxation Case to New York High Court
A law professor is appealing a remote taxation case to New York's highest court, challenging how the state taxes income…
Trump Accounts: The Annual Exclusion Exception, Not the Rule
The Big Beautiful Bill introduces 'Trump Accounts,' tax-advantaged savings accounts for children that interact with gift tax annual exclusion rules.…
Trump Says US Weighing Attempt to Stop NYC Pied-A-Terre Tax
Former President Trump has indicated the federal government is considering intervening to block New York City's proposed pied-à-terre tax, which…
Setting the Standard: A Major Development in Connecticut Domicile Cases
A significant legal development in Connecticut domicile cases establishes a new standard for determining taxpayer residency status. Domicile determinations are…
Can an individual fall within the scope of transfer pricing? Yes – and sooner than you think
This article examines whether individuals can fall within the scope of transfer pricing rules, with a focus on Poland. It…
CBDT Rolls Out One-Time Foreign Asset Disclosure Scheme
India's Central Board of Direct Taxes (CBDT) has launched a one-time foreign asset disclosure scheme, allowing taxpayers to voluntarily declare…
Extend Child Benefit for your teen before 31 August
UK government reminds families to extend Child Benefit claims for teenagers before the 31 August deadline, as payments stop automatically…
When You Move to the Netherlands, Dutch Tax Rules Come With It
This article outlines Dutch tax obligations for foreign entrepreneurs relocating to the Netherlands, covering key rules around BV (besloten vennootschap)…
One House, Two Houses or Three? The Changing Tax Story of Home Ownership
This article examines the tax implications of owning one, two, or three residential properties, covering how tax treatment of home…
129 Days Late, But Not Too Late: Nagpur ITAT directed CIT (A) to decide the case on merits after providing an opportunity of hearing to the Assessee
The Nagpur Income Tax Appellate Tribunal (ITAT) ruled that a 129-day delay in filing an appeal before the Commissioner of…
Income Tax Reassessment Notice Issued to a Dead Person: ITAT Nagpur Restores Case to CIT(A)
The Nagpur bench of India's Income Tax Appellate Tribunal (ITAT) addressed a case where an income tax reassessment notice was…
Apply for an exemption from Making Tax Digital for Income Tax
HMRC provides guidance on applying for an exemption from Making Tax Digital for Income Tax (MTD for IT), which is…
There May Be a Billion-Dollar Tax Play Hidden in the LA Lakers Sale, and It Probably Won’t Happen
An analysis of potential tax planning strategies embedded in the sale of the LA Lakers NBA franchise. The piece explores…
‘Deemed Disposition’ of all your Assets at Death: Tax Planning for Canadian Business Owners with High-Net-Worth Estates
This article explains the Canadian tax concept of 'deemed disposition,' which treats a deceased individual as having sold all capital…
Vehicle Miles Traveled Taxes Need Not Invade Drivers’ Privacy
The Tax Foundation examines Vehicle Miles Traveled (VMT) taxes as an alternative to fuel excise taxes, addressing privacy concerns that…
11th Circ. Mulls Tax Court's Cut To $33M Easement Deduction
The 11th Circuit Court of Appeals is reviewing a Tax Court decision that significantly reduced a $33 million conservation easement…
Californians Split on Proposed Tax on Billionaires, Poll Shows
A new poll reveals California voters are evenly divided on a proposed tax targeting billionaires, reflecting deep uncertainty about the…
Google Co-Founder Sergey Brin Pours Over $100 Million Into Fighting California Billionaire Tax
Google co-founder Sergey Brin has contributed over $100 million to campaigns opposing California's proposed billionaire tax, making it one of…
Judge Allows Fiscal Impacts From ‘Millionaires Tax’ on Washington Ballots
A Washington state judge has ruled that fiscal impact statements related to a proposed 'millionaires tax' ballot initiative can be…
Israel Expands Immigrant Tax Relief
Israel has expanded tax relief provisions for new immigrants and returning residents, a significant development for individuals relocating to Israel.…
Capital Gains Tax on Financial Assets: FPS Finance Unveils Its Interpretation of the Reform
Belgium's FPS Finance has released its official interpretation of the newly enacted capital gains tax reform on financial assets. The…
WSJ: The Pros and Cons of Putting Extra Dollars in a Trump Account
The Wall Street Journal examines the financial implications of contributing to a 'Trump Account' — a savings vehicle introduced under…
Submitting interim and annual tax claims for ISA managers
HMRC guidance covering the process for ISA managers to submit interim and annual tax claims. ISA managers can reclaim tax…
UK Death Invisibility and HMRC
This article examines how HMRC handles the tax affairs of deceased individuals in the UK, exploring the concept of 'death…
Section 153C Cannot Be Invoked After 1 April 2021 for an “Other Person” Merely Because the Search Was Conducted Earlier: ITAT Bangalore
The ITAT Bangalore ruled that Section 153C of the Income Tax Act cannot be invoked against an 'other person' merely…
Is Surcharge Automatically Payable When Income Is Taxed at the Maximum Marginal Rate (MMR)? ITAT Mumbai Says No
The ITAT Mumbai ruled that surcharge is not automatically payable simply because income is taxed at the Maximum Marginal Rate…
CBDT Grants IT Exemption to District Legal Service Authority, Panchkula U/S 10(46)
India's Central Board of Direct Taxes (CBDT) has granted income tax exemption to the District Legal Service Authority, Panchkula under…
Split 11th Circ. Backs IRS $1M Value For Contested Easement
The Eleventh Circuit, in a split decision, upheld the IRS's $1 million valuation of a contested conservation easement, ruling against…
La tributación directa de los criptoactivos. Un desafío para las administraciones tributarias
This article examines the direct taxation challenges that cryptocurrency and crypto-assets pose for tax administrations. It explores how traditional tax…
The Tax Adviser: IRS provides guidance on rollovers between retirement plans and IRAs
The IRS has issued guidance addressing rollovers between retirement plans and IRAs, providing clarification for taxpayers and practitioners navigating the…
Texas Man Cops To Role In $43M Tax Shelter Scheme
A Texas man has pleaded guilty to participating in a $43 million fraudulent tax shelter scheme, facing potential criminal penalties…
State Rundown 8/13: Income Tax Elimination Fails in Missouri
Missouri voters rejected a ballot measure that would have eliminated the state income tax, a significant development in ongoing state-level…
When are Legal Fees Tax Deductible in Canada? A Canadian Tax Lawyer’s Guide
A Canadian tax lawyer's guide examining when legal fees qualify as tax deductible expenses under Canadian tax law. The article…
Child Tax Credits and Child and Dependent Care Credits: What’s the Difference?
This explainer article from ITEP clarifies the distinction between two federal tax benefits: the Child Tax Credit (CTC) and the…
ITR-7 Online Utility for AY 2026-27 Now Available on Income Tax Portal
The Income Tax Department of India has released the ITR-7 online utility for Assessment Year 2026-27 on the official income…
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