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Andy Burnham as Prime Minister – What Could It Mean for Tax?
This article speculates on the potential tax policy implications if Andy Burnham, current Mayor of Greater Manchester, were to become…
Draft legislation: Better use of new and improved third-party data
HMRC has published draft legislation aimed at improving the use of new and enhanced third-party data for tax compliance purposes.…
One House Sold… Two Houses Bought! Will Section 54 Still Save Your Tax?
This article examines whether Indian taxpayers can claim capital gains tax exemption under Section 54 of the Income Tax Act…
Making Tax Digital for Income Tax: Frequently Asked Questions
This FAQ guide addresses Making Tax Digital for Income Tax (MTD for IT) in the UK, covering key questions practitioners…
Have You Received a Letter from HMRC About Making Tax Digital for Income Tax?
HMRC has begun issuing letters to taxpayers who will be mandated to join Making Tax Digital for Income Tax (MTD…
How Withholding Taxes Affect Cross-Border Investment in Europe
An analysis of how withholding taxes on dividends and other investment income affect cross-border investment flows within Europe. The piece…
Section 68 Cannot Be Invoked Mechanically: Gujarat High Court Says One-to-One Matching of Bank Credits with Sales Is Not Mandatory
The Gujarat High Court has ruled that Section 68 of the Income Tax Act, which deals with unexplained cash credits,…
Batchelder: When Money’s Time Isn’t Always Valued
This article by Batchelder examines the time value of money in tax contexts, exploring situations where tax law does not…
IRS raises standard mileage rates for remainder of 2026
The IRS has announced increased standard mileage rates effective for the remainder of 2026. These rates are used by taxpayers…
IRS raises standard mileage rates for remainder of 2026
The IRS has announced an increase in standard mileage rates for the remainder of 2026, affecting how taxpayers calculate deductible…
Tokenized Stocks Are Coming – What Public Accountants Need to Know
Tokenized stocks represent traditional equities recorded on blockchain, creating new accounting and tax complexities for public accountants. Key tax considerations…
Here’s How Much Americans Pay in Taxes Over Their Lifetime
An analysis of lifetime tax burdens for Americans, examining how much the average person pays across all tax types over…
HMRC Still Weighing How To Treat Offshore Interest Income
HMRC is still deliberating on the appropriate tax treatment of offshore interest income, creating uncertainty for taxpayers with overseas investments.…
NYSBATS Report on NYC’s Pied-à-Terre Tax
The New York State Bar Association Tax Section (NYSBATS) has released a report examining New York City's proposed pied-à-terre tax,…
Online Rummy Loss Cannot Be Taxed as Gross Winnings: Hyderabad ITAT Deletes ₹3.54 Crore Addition
The Hyderabad Income Tax Appellate Tribunal (ITAT) ruled that losses from online rummy cannot be disregarded when calculating taxable winnings.…
No Form 10B? ITAT Delhi Clarifies: Charitable Trust Cannot Be Taxed on Gross Receipts Alone
The Delhi Income Tax Appellate Tribunal (ITAT) clarified that a charitable trust's failure to file Form 10B (audit report) does…
Gov. Ferguson Campaigns Against Initiative to Repeal Washington ‘Millionaires Tax’
Washington Governor Ferguson is actively campaigning against a ballot initiative that would repeal the state's capital gains tax on high…
Make the IRS an Offer It Can’t Refuse
This article discusses the IRS Offer in Compromise (OIC) program, which allows eligible taxpayers to settle their federal tax debt…
Form: International Tax: UK Real Estate Investment Trusts (REIT) property income dividends — UK-Japan Double Taxation Convention
This HMRC form facilitates claims under the UK-Japan Double Taxation Convention for Japanese residents receiving property income dividends from UK…
Accredited official statistics: Table 2.5 Income Tax liabilities by income range
Official UK government statistics presenting Income Tax liabilities broken down by income range. Published by HMRC, this dataset provides accredited…
Accredited official statistics: Table 2.6 Income Tax liabilities by marginal rate of Income Tax
Official UK government statistics presenting Income Tax liabilities categorised by taxpayers' marginal rate of Income Tax. Published by HMRC as…
Accredited official statistics: Table 2.4 Shares of total Income Tax liability
UK government accredited official statistics presenting shares of total income tax liability across percentile groups of taxpayers. The dataset illustrates…
Accredited official statistics: Table 2.2 Number of Income Tax payers by country
UK government accredited official statistics providing a breakdown of the number of income tax payers by country (England, Scotland, Wales,…
Official Statistics: Income Tax personal allowances and reliefs
UK government official statistics publication covering income tax personal allowances and reliefs. The dataset provides historical and current data on…
Accredited official statistics: Income Tax liabilities statistics: tax year 2023 to 2024 to tax year 2026 to 2027
Official UK government accredited statistics covering Income Tax liabilities from tax year 2023-24 through to 2026-27, published by HMRC. This…
Official Statistics: Rates of Income Tax
UK government official statistics publication detailing historical and current rates of income tax in the United Kingdom. The dataset covers…
Accredited official statistics: Table 2.5a Income Tax liabilities by income range for historic years
Official UK government accredited statistics presenting historical Income Tax liabilities broken down by income range, covering earlier tax years. Published…
Accredited official statistics: Table 2.1 Number of individual Income Tax payers
Official UK government accredited statistics detailing the number of individual Income Tax payers, broken down by marginal rate, gender, and…
CBDT Notifies Tax Exemption for BBN Development Authority Under Section 10(46)
India's Central Board of Direct Taxes (CBDT) has issued a notification granting tax exemption to the BBN (Bodoland Territorial Area…
MDDP Webinar: B2B Reclassification into Employment: Dispute, Penalties and Tax Impact (VAT & Personal) (July 15)
A webinar hosted by MDDP examining the tax consequences when B2B contractor arrangements are reclassified as employment relationships. The session…
AICPA Expresses Support for Bill to End Tax Penalties on American Hostages
The AICPA has expressed support for legislation aimed at eliminating tax penalties imposed on American hostages and wrongfully detained citizens.…
Gifted a House? How Transferring Property (Cheaply) Can Also Transfer Tax Debt to Someone Else: A Comprehensive Guide to Section 160 of the Income Tax Act
A comprehensive guide to Section 160 of Canada's Income Tax Act, which allows the CRA to hold recipients of property…
Guidance: Gains on foreign life insurance policies (Self Assessment helpsheet HS321)
This UK HMRC Self Assessment helpsheet (HS321) provides guidance on reporting gains from foreign life insurance policies for personal income…
Hawaii’s New ‘Millionaire Tax’ Rivals Top Tax Rate Among Other States
Hawaii has enacted a new 'millionaire tax' that places it among the states with the highest top marginal income tax…
Supporters of Phasing Out Missouri Income Tax Won’t Talk Specifics Ahead of Public Vote
Supporters of a Missouri ballot initiative to phase out the state's income tax are declining to provide specifics about how…
Guidance: Approved offshore reporting funds
HMRC guidance on approved offshore reporting funds, which are funds that have elected to report their income to investors rather…
Temporary Repatriation Facility (TRF): how it works and what to include in your 2025-26 tax return
This article explains the UK's Temporary Repatriation Facility (TRF), a regime allowing individuals with foreign income or gains previously sheltered…
Venture Capital Schemes Manual
HMRC's Venture Capital Schemes Manual provides detailed guidance on UK tax-advantaged investment schemes including the Enterprise Investment Scheme (EIS), Seed…
Impact assessment: Child Benefit information for Self Assessment tax return
An HMRC impact assessment examining the integration of Child Benefit data into the Self Assessment tax return process. This relates…
Guidance: Digital platform reporting: service availability and issues
UK HMRC guidance covering service availability and known issues relating to the digital platform reporting service. Under DAC7-aligned UK rules,…
MDDP Webinar: B2B Reclassification into Employment: Dispute, Penalties and Tax Impact (VAT & Personal) (July 15)
MDDP is hosting a webinar on July 15 addressing the reclassification of B2B contractor relationships into employment in Poland. The…
CBDT Tightens Scrutiny of Unexplained Income Additions: Fresh Directions Issued on Sections 68 to 69D and Section 115BBE
India's Central Board of Direct Taxes (CBDT) has issued fresh directions tightening scrutiny of unexplained income under Sections 68 to…
CBDT Mandates Upload of Foreign Assets and Income Data in AIS and Form 26AS Under AEOI
India's CBDT has mandated the upload of foreign assets and income data into the Annual Information Statement (AIS) and Form…
Apply to pay voluntary Class 3 National Insurance contributions for periods abroad
This UK government guidance covers the process for individuals to apply to pay voluntary Class 3 National Insurance contributions for…
New York City’s Pied-à-Terre Tax: What Property Owners Need to Know
New York City's proposed pied-à-terre tax targets non-primary residences valued above a certain threshold, imposing an annual surcharge on luxury…
Law360: State and Local Tax Midyear Updates & Second Half Preview
Law360 covers state and local tax midyear updates and previews the second half of the year, examining key developments in…
New Jersey Passes Budget with Tax Law Changes Affecting Individuals and Businesses
New Jersey has passed its state budget incorporating significant tax law changes impacting both individuals and businesses. The legislation introduces…
Choose the right software for Making Tax Digital for Income Tax
This UK government guidance helps individuals and businesses select appropriate software for Making Tax Digital (MTD) for Income Tax, HMRC's…
Guidance: Self Assessment commercial software suppliers
HMRC publishes guidance listing approved commercial software suppliers for Self Assessment tax returns in the UK. The resource helps individuals…
Hawaii To Expand First-Time Homebuyer Tax Break
Hawaii is moving to expand its first-time homebuyer tax break, broadening eligibility or increasing the benefit available to residents purchasing…
HMRC email updates, videos and webinars if you’re self-employed
HMRC offers a suite of educational resources—including email updates, videos, and live webinars—targeted at self-employed individuals in the UK. These…
Sign up for Making Tax Digital for Income Tax
HMRC provides step-by-step guidance for taxpayers wishing to sign up for Making Tax Digital for Income Tax (MTD for IT),…
Sign up your client for Making Tax Digital for Income Tax
HMRC guidance on how tax agents can sign up clients for Making Tax Digital (MTD) for Income Tax, part of…
Policy paper: Cryptoasset loans and liquidity pools
HMRC policy paper clarifying the tax treatment of cryptoasset loans and liquidity pools in the United Kingdom. The guidance addresses…
ITR Filing Gains Momentum as Over 1.7 Cr Returns Are Filed Ahead of July 31 Deadline
India's income tax return filing season is gaining momentum with over 1.7 crore (17 million) returns submitted ahead of the…
More on NYC’s Pied-à-Terre Tax
The article discusses New York City's proposed pied-à-terre tax, which would impose a levy on non-primary residences owned by non-residents…
Assessment in the Name of a Deceased Person Is a Nullity: ITAT Allows Legal Ground Even If Not Raised Before CIT(A)
India's Income Tax Appellate Tribunal (ITAT) has ruled that an assessment made in the name of a deceased person is…
Has the Tax Shine Gone Off Sovereign Gold Bonds?
India's Sovereign Gold Bonds (SGBs) have historically offered attractive tax benefits, including capital gains tax exemption on redemption at maturity…
Tanzania introduces higher income tax and new VAT rules for digital marketplaces
Tanzania has enacted significant tax changes targeting the digital economy, introducing higher income tax rates and new VAT rules for…
Puerto Rico Act 60 Investigations
Puerto Rico Act 60 (formerly Acts 20/22) offers significant tax incentives including a 4% corporate tax rate and 0% tax…
Ryan: The Strengthen Social Security by Taxing Dynastic Wealth Act: Throwback or ‘Fauxback’?
This article examines the 'Strengthen Social Security by Taxing Dynastic Wealth Act,' analyzing whether the proposed legislation represents a genuine…
Pensions and IHT in 2027
This content addresses the upcoming intersection of pensions and Inheritance Tax (IHT) in the UK, focusing on significant changes taking…
IRS Final Rules Identify Certain CRATs as ‘Listed Transactions’
The IRS has issued final rules designating certain Charitable Remainder Annuity Trusts (CRATs) as 'listed transactions,' meaning they are classified…
Chicago Aldermen Reject Mayor’s Move to Ask Voters if Millionaires Should Be Taxed
Chicago's aldermen have rejected Mayor Brandon Johnson's proposal to place a referendum on the ballot asking voters whether millionaires should…
IRS designates certain CRAT arrangements as listed transactions
The IRS has designated certain Charitable Remainder Annuity Trust (CRAT) arrangements as listed transactions, signaling heightened scrutiny of these structures.…
IRS designates certain CRAT arrangements as listed transactions
The IRS has designated certain Charitable Remainder Annuity Trust (CRAT) arrangements as listed transactions, signaling heightened scrutiny of these structures.…
Bloomberg: California Film Tax Credit Demand Rises Under Expanded Program
Demand for California's film tax credit program has risen following its expansion. The program offers production companies tax incentives to…
Eligible taxpayers to get automatic IRS penalty relief
The IRS is providing automatic penalty relief to eligible taxpayers, sparing them from having to request abatement manually. This relief…
Eligible taxpayers to get automatic IRS penalty relief
The IRS is providing automatic penalty relief to eligible taxpayers, sparing them from having to file requests or take additional…
Will World Series of Poker Main Event Attendance Be Impacted by Major Tax Changes?
The article explores how significant U.S. tax law changes may affect attendance at the World Series of Poker Main Event.…
Borden & Kaur: State Tax Enforcement of Section 1031 Proximate Exchanges
This article examines state tax enforcement issues surrounding Section 1031 like-kind exchange rules, specifically focusing on 'proximate exchanges' — transactions…
Aussies Seek Input On 30% Min. Tax For Discretionary Trusts
Australian authorities are seeking public consultation on a proposed 30% minimum tax rate applicable to discretionary trusts. The measure aims…
Proof, Not Just Timing, Will Decide Clean Energy Credits
A legal analysis argues that eligibility for clean energy tax credits under US law will ultimately hinge on substantive proof…
Missed your 83(b) Election? Here’s What You Can Do
Missing the 83(b) election deadline can have significant tax consequences for employees receiving restricted property or equity compensation. An 83(b)…
Why C Corporations Are Back: The QSBS Advantage Explained
This article examines the resurgence of C Corporations among startups and investors due to the Qualified Small Business Stock (QSBS)…
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