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How Tax Cliffs Hold Back Poland’s Individual Business Owners
An analysis from the Tax Foundation examines how Poland's tax system creates 'cliff effects' that discourage growth among individual business…
FBR issues withholding tax rate card for fiscal year 2026-27
Pakistan's Federal Board of Revenue (FBR) has issued the withholding tax rate card for fiscal year 2026-27, providing taxpayers and…
Is it a Business or a Hobby? What Triggers a CRA Tax Audit: Pursuit of Profits, Expenses, Declared Losses
This article examines how the Canada Revenue Agency (CRA) distinguishes between a business and a hobby for tax purposes, and…
NYC Pied-à-Terre Surcharge Latest: Court Pauses Rollout as Deadlines Loom
A New York City court has paused the rollout of the proposed pied-à-terre surcharge, a tax targeting non-primary residential properties…
Trump Weighs Another Giveaway to the Wealthy With Capital Gains Indexing Ahead of Midterms
The Institute on Taxation and Economic Policy (ITEP) examines the Trump administration's consideration of capital gains indexing to inflation, a…
Pratt: Aligning Reparations and Taxation
A scholarly work by Pratt examines the intersection of reparations policy and taxation, exploring how the tax system could be…
IRS provides guidance on rollovers between retirement plans and IRAs
The IRS has issued guidance addressing rollovers between retirement plans and IRAs, providing clarification on the rules and procedures taxpayers…
IRS provides guidance on rollovers between retirement plans and IRAs
The IRS has issued guidance addressing rollovers between retirement plans and IRAs, clarifying rules that affect individual taxpayers managing retirement…
Leff: Getting Donor-Advised Funds Regulation Right
Analysis of the regulatory framework governing donor-advised funds (DAFs), examining how current rules may fall short in ensuring charitable distributions…
Why Wealth Taxes Always Fail
An opinion piece from the Tax Foundation examining why wealth taxes consistently fail as a revenue-raising mechanism for governments. The…
Trump Looks for Ways to Block Mamdani Pied-à-Terre Tax
President Trump is exploring federal mechanisms to block New York City Mayor Zohran Mamdani's proposed pied-à-terre tax, which would impose…
Trump Weighs Call for Capital Gains Tax Cuts as Midterm Boost
President Trump is considering proposing capital gains tax cuts as a political strategy ahead of the midterm elections. The move…
Wyden’s Wildfire Tax Relief Bill Passes Just Before Congress Recesses
Senator Wyden's Wildfire Tax Relief Bill passed Congress just before recess, providing targeted tax relief measures for victims of wildfire…
Received Salary Arrears? Don’t Miss Section 89 Relief-It Could Save You Thousands in Income Tax
This article explains India's Section 89 income tax relief mechanism for taxpayers who receive salary arrears or advance salary payments.…
Constitutional Flaws of California’s Proposed Wealth Tax
Analysis of California's proposed wealth tax reveals significant constitutional vulnerabilities. The Tax Foundation examines legal challenges facing the proposal, including…
CRA Changes to the Disability Tax Credit (DTC) Application Process: What Canadian Taxpayers Need to Know
The Canada Revenue Agency (CRA) has updated its Disability Tax Credit (DTC) application process, introducing changes Canadian taxpayers need to…
Why the Voluntary Disclosures Program (VDP) is Better than a CRA Tax Audit
Canada's Voluntary Disclosures Program (VDP) offers taxpayers a structured way to correct inaccurate or incomplete tax filings before the CRA…
Trump account prop. regs. clarify $2,500 limit for workers
Proposed regulations clarify the $2,500 contribution limit for Trump Accounts, a new savings vehicle for workers introduced under recent U.S.…
Trump account prop. regs. clarify $2,500 limit for workers
The IRS has issued proposed regulations clarifying the $2,500 contribution limit for Trump Accounts, the new tax-advantaged savings accounts established…
What Nonprofits Need to Know About the New Form 1099 Reporting Thresholds
This article outlines changes to Form 1099 reporting thresholds relevant to nonprofit organizations. The IRS has updated the reporting requirements,…
California Budget & Policy Center: New Report on Proposed Billionaire Tax
The California Budget & Policy Center has released a new report examining a proposed billionaire tax in California. The report…
Policy paper: Personal Tax: Offshore Anti-Avoidance external engagement
HMRC's policy paper on Personal Tax Offshore Anti-Avoidance external engagement outlines the UK government's approach to combating offshore tax avoidance…
Delhi ITAT Directs CIT(A) to Decide Whether CAM Charges Attract 2% TDS U/S 194C or 10% U/S 194-I
The Delhi Income Tax Appellate Tribunal has directed the Commissioner of Income Tax (Appeals) to determine the correct TDS rate…
Paraguay positions itself as a destination jurisdiction for individuals and capital
Paraguay is positioning itself as an attractive destination for individuals and capital through its favorable tax regime. The country offers…
Final regs. issued for Sec. 3406 backup withholding rules
The IRS has issued final regulations under Section 3406 governing backup withholding rules. Backup withholding requires payers to withhold a…
Tax Man Who Shaved Insurance Crook's Income Gets 2 Years
A tax preparer who fraudulently reduced an insurance fraudster's reported income has been sentenced to two years in prison. The…
IRS updates overtime deduction FAQs, adds reporting details
The IRS has updated its FAQ guidance on the overtime pay deduction introduced under recent tax legislation, adding new details…
IRS updates overtime deduction FAQs, adds reporting details
The IRS has updated its frequently asked questions on the overtime pay deduction, adding new reporting details for taxpayers and…
Feds Propose Regs On Trump Account Income Exclusion
Federal regulators have proposed regulations governing the income exclusion for Trump Accounts, a new savings account vehicle introduced under recent…
Delhi ITAT Holds Section 12AB Registration Can’t Be Refused Over Loans to Related Parties
The Delhi Income Tax Appellate Tribunal has held that registration under Section 12AB of the Income Tax Act cannot be…
Business Losses in the Netherlands: When Is a Business No Longer a Source of Income?
This article examines Dutch tax rules governing when a loss-making business ceases to qualify as a 'source of income' for…
Section 69 Addition Cannot Be Based on Mere Suspicion or ‘Human Probabilities’ Once the Source of Cash Is Proved: ITAT Chennai
The ITAT Chennai ruled that additions under Section 69 of the Income Tax Act (unexplained cash investments) cannot be sustained…
Is a Section 143(2) Notice Invalid If It Does Not Mention ‘Limited Scrutiny’ or ‘Complete Scrutiny’? ITAT Special Bench Says No
An ITAT Special Bench ruled that a notice issued under Section 143(2) of the Income Tax Act is not rendered…
Hyderabad ITAT Upholds TDS Credit Denial for Failure to Reconcile Claim With Income
The Hyderabad Income Tax Appellate Tribunal (ITAT) upheld the denial of Tax Deducted at Source (TDS) credit to a taxpayer…
Wash. AG's 'Neutral' Income Tax Repeal Description Can Stand
A Washington state court has ruled that the Attorney General's 'neutral' description of a ballot initiative to repeal the state's…
IRS Updates FAQs on OBBBA Overtime Tax Deduction
The IRS has updated its FAQs regarding the overtime tax deduction introduced under the One Big Beautiful Bill Act (OBBBA).…
New Yorkers, Please Pay Your City Income Taxes: Why the Pied-a-Terre Tax Rollout Is Not Worth a Meltdown
An analysis from the Institute on Taxation and Economic Policy (ITEP) examines New York City's proposed pied-à-terre tax on non-primary…
New Yorkers, Please Pay Your City Income Taxes: Why the Pied-a-Terre Tax Rollout Is Not Worth a Meltdown
This article from ITEP examines the proposed pied-à-terre tax on non-primary residences in New York City, arguing that concerns about…
WSJ: Missouri Voters Defeat Measure to Abolish Income Tax
Missouri voters rejected a ballot measure that would have abolished the state's income tax, preserving the existing personal income tax…
Chennai ITAT Rules Cash Withdrawals From Own Bank Account Can’t Be Treated as Unexplained Money U/S 69A
The Chennai Income Tax Appellate Tribunal (ITAT) ruled that cash withdrawals from a taxpayer's own bank account cannot be treated…
No Tax, No Penalty: ITAT Mumbai Draws the Line on Section 270A Penalties for Charitable Trusts
The Income Tax Appellate Tribunal (ITAT) Mumbai ruled that no penalty under Section 270A can be imposed on a charitable…
ITAT Hyderabad Grants FTC Relief Despite Delayed Form 67 Filing
The Income Tax Appellate Tribunal (ITAT) Hyderabad has ruled in favor of a taxpayer seeking Foreign Tax Credit (FTC) relief…
Tax Court Nixes Trader's $170M Dividend Tax Break
The U.S. Tax Court denied a trader's attempt to claim a $170 million dividend tax break, ruling against the taxpayer's…
Tax Prep Biz Owner Gets 30 Months For $5M Refund Scheme
The owner of a tax preparation business has been sentenced to 30 months in federal prison for orchestrating a $5…
Chu: Taxing Aliens and International Law: Nationalist China’s Income Tax Negotiations with Treaty Powers, 1935–37
This academic article examines Nationalist China's income tax negotiations with treaty powers between 1935 and 1937, focusing on how China…
Missouri Voters Rejected the Governor’s Income Tax Plan. Could He Have Saved It?
Missouri voters rejected a gubernatorial income tax reduction plan at the ballot box, raising questions about the political strategy behind…
The Tax Adviser: Effect of the new pro rata share rules
The Tax Adviser examines the effect of new pro rata share rules, analyzing how these regulatory changes impact taxpayers. Pro…
Delhi ITAT Rules AO Can’t Consider Fresh Capital Gains Deduction Claim Made in the ITR
The Delhi Income Tax Appellate Tribunal (ITAT) has ruled that an Assessing Officer (AO) cannot consider a fresh capital gains…
Who You Calling Progressive?
This article from the S Corporation Association challenges the characterization of certain tax proposals as 'progressive,' examining how pass-through business…
Protecting Non-Resident Clients From the $25,000 IRS Form 5472 Trap
Non-resident aliens and foreign-owned single-member LLCs face a $25,000 penalty for failing to file IRS Form 5472, which reports transactions…
Bloomberg: A Tax Strategy for the Rich Built the World’s Largest Hedge Fund
A Bloomberg investigation examines how a sophisticated tax strategy designed for wealthy individuals played a central role in building Bridgewater…
Missouri Voters Reject Plan to Phase Out State’s Income Tax
Missouri voters have rejected a ballot measure that would have phased out the state's income tax. The proposal, which sought…
Madras HC Sends Back IT Order Over Form 26AS & Books of Account Mismatch Treated as Undisclosed Income
The Madras High Court has remanded an income tax assessment order back to the assessing officer after finding that a…
Property118’s tribunal win – it doesn’t help their clients; it looks vulnerable to appeal
A tax tribunal ruled in favour of Property118 in a case concerning HMRC's DOTAS (Disclosure of Tax Avoidance Schemes) regime,…
Section 54F Exemption Cannot Be Denied for Delay Beyond Taxpayer’s Control: Telangana High Court Grants Relief Despite 7-Year Delay in Construction
The Telangana High Court held that Section 54F capital gains tax exemption cannot be denied solely due to construction delays…
Missouri Voters Reject Amendment 5 and a Damaging Tax Shift onto Working Families
Missouri voters rejected Amendment 5, a ballot measure that would have shifted the tax burden onto working families. The proposal,…
NYC Extends Deadline For Pied-À-Terre Tax Exemptions
New York City has extended the deadline for property owners to apply for exemptions under the pied-à-terre tax, which targets…
Wealth Taxes in Europe, 2026
A Tax Foundation analysis examines the state of wealth taxes across European nations heading into 2026, surveying which countries levy…
Wisconsin issues tax bulletin detailing differences between federal and state tax law for 2026
Wisconsin has issued a tax bulletin outlining the differences between federal and state tax law applicable for 2026. The bulletin…
Late Filing of Form 10-IE Cannot Deny New Tax Regime Benefit: Hyderabad ITAT Delivers Landmark Relief Under Section 115BAC
The Hyderabad Income Tax Appellate Tribunal ruled that late filing of Form 10-IE cannot be grounds to deny a taxpayer…
Can You Claim Section 80P Deduction During Assessment Even If It Was Not Claimed in the Original ITR? ITAT Pune Says Yes
The Pune Income Tax Appellate Tribunal ruled that a taxpayer can claim a Section 80P deduction during assessment proceedings even…
Scammers Are Trying to Trick Crypto Holders with Fake IRS Letters
Scammers are targeting cryptocurrency holders with fraudulent IRS letters designed to trick recipients into disclosing personal and financial information or…
IRS warns crypto holders about fake compliance portal scam
The IRS has issued a warning to cryptocurrency holders about a fraudulent compliance portal scam targeting crypto taxpayers. Scammers are…
IRS warns crypto holders about fake compliance portal scam
The IRS has issued a warning to cryptocurrency holders about a fraudulent compliance portal scam targeting taxpayers. Scammers are impersonating…
(Even) More on NYC’s Pied-à-Terre Tax
This article discusses ongoing developments surrounding New York City's proposed pied-à-terre tax, which would impose a levy on non-primary residential…
LLP salaried member rules after BlueCrest Supreme Court decision (2026 guide for LLPs)
Following the Supreme Court's BlueCrest Capital Management decision, this guide examines how salaried member rules apply to LLP members in…
Billionaire Tax is Endorsed by California Democrats
California Democratic lawmakers have formally endorsed a proposed billionaire tax targeting ultra-high-net-worth individuals. The measure would impose taxes on unrealized…
New York City Pushes Back Pied-à-Terre Tax Exemption Deadline
New York City has extended the deadline for property owners to apply for an exemption under the Pied-à-Terre Tax, which…
ITR Filed? Don’t Relax Yet! What Every Taxpayer Should Do After Filing the Return
After filing an Income Tax Return (ITR) in India, taxpayers should not consider their obligations complete. Key post-filing steps include…
Tax lawyers urge FBR to fix IRIS & review new tax return system
Pakistani tax lawyers have formally urged the Federal Board of Revenue (FBR) to address persistent technical issues with the IRIS…
The Proposed PPLI Abuse Act
The proposed Private Placement Life Insurance (PPLI) Abuse Act targets high-net-worth individuals using PPLI structures to shelter investment income and…
WSJ: Is That College Scholarship Taxable?
The Wall Street Journal examines the tax treatment of college scholarships under US personal income tax rules. Scholarship amounts used…
New York Governor Trolls LeBron James with Tax on Rumored NYC Home
New York Governor Kathy Hochul has highlighted the significant tax burden LeBron James would face if he purchases a rumored…
Federal Tax Ombudsman recommends ‘faceless’ income tax refund system
Pakistan's Federal Tax Ombudsman has recommended the introduction of a 'faceless' income tax refund system to reduce human interaction in…
FBR notifies 5% withholding tax on social media income for tax year 2027
Pakistan's Federal Board of Revenue (FBR) has issued a notification introducing a 5% withholding tax on income earned by social…
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