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Tax lawyers ask FBR to extend return deadline
Pakistani tax lawyers have formally requested the Federal Board of Revenue (FBR) to extend the tax return filing deadline, citing…
Your First Look at 2027 Tax Brackets, Standard Deduction Amounts and More
An early projection of 2027 federal tax brackets and standard deduction amounts, offering taxpayers and practitioners an advance look at…
TDS Deducted but Not Deposited? Deductee Cannot Be Asked to Pay Again
An Indian tax ruling confirms that a taxpayer (deductee) cannot be compelled to pay tax again when TDS has already…
Belated Form 10B Cannot Defeat Charitable Exemption Under Section 11
An Indian tax ruling holds that a charitable trust's exemption claim under Section 11 of the Income Tax Act cannot…
Bloomberg Tax & Accounting Projects 2027 Tax Rates
Bloomberg Tax & Accounting has released projections for 2027 federal tax rates, brackets, and related figures. These forward-looking estimates help…
Here’s What You Should Know About Trump’s Proposed $5,000 Dividend Checks
President Trump has proposed issuing $5,000 dividend checks to American citizens, funded by revenues from tariffs and potentially other government…
Donating Appreciated Publicly Traded Securities to Charity
Donating appreciated publicly traded securities directly to charity offers a significant tax advantage for Canadian taxpayers: the capital gains inclusion…
Work out your qualifying income for Making Tax Digital for Income Tax
HMRC has published guidance helping self-employed individuals and landlords calculate their qualifying income to determine whether they must comply with…
Check what to do if HMRC has signed you up for Making Tax Digital for Income Tax
HMRC has issued guidance for taxpayers who have been automatically enrolled into Making Tax Digital for Income Tax (MTD for…
CBDT Allows Sharing of Income-Tax Data with Andhra Pradesh ITE&C to Identify Eligible Welfare Scheme Beneficiaries
India's Central Board of Direct Taxes (CBDT) has authorized the sharing of income-tax data with Andhra Pradesh's Information Technology, Electronics…
Section 54F Exemption Cannot Be Denied Merely Because Construction or Registration Is Delayed
An Indian tax ruling clarifies that the Section 54F capital gains exemption for reinvestment in residential property cannot be denied…
TDR Is Not Always a Zero-Cost Asset
An Indian tax ruling addresses the cost basis of Transferable Development Rights (TDR), determining that TDR should not automatically be…
Tax Pros Face Client Questions About Delinquent SBA Pandemic Loans
Tax professionals are fielding increasing client inquiries regarding delinquent SBA pandemic-era loans, raising complex tax implications. When the SBA forgives…
Tax Court Nod To Income Approach Props Easement Valuation
The U.S. Tax Court has approved the use of an income approach methodology for valuing a conservation easement, a significant…
Trump Promised Americans $5,000 if Republicans Win Congress. Here’s the Math.
An analysis of Donald Trump's promise to deliver $5,000 to Americans if Republicans win Congress, examining the fiscal and tax…
Switzerland Sets Individual Taxation Date
Switzerland has announced a specific implementation date for individual taxation reform, moving away from the current joint taxation system for…
Opinion: Trump Accounts Show Why Government Trust Matters
This opinion piece examines Trump Accounts—a new savings vehicle proposed under recent U.S. tax legislation—through the lens of public trust…
State Rundown 9/10: States Brace for (and in Some Cases Embrace) Ballots and Budgets
This ITEP state rundown covers tax-related ballot measures and budget developments across multiple U.S. states. States are preparing for upcoming…
Can AI Finally Tame the K-1?
The article explores whether artificial intelligence can effectively handle the complexity of Schedule K-1 tax forms, which report partnership, S-corporation,…
Rajkot ITAT Holds Entire Joint Property Purchase Cannot Be Taxed Without Identifying Assessee’s Share
The Rajkot Income Tax Appellate Tribunal (ITAT) has ruled that where a property is jointly purchased, tax authorities cannot assess…
Foreign Asset Disclosure Scheme 2026: 60% Tax or Just ₹1 Lakh?
India's Foreign Asset Disclosure Scheme 2026 presents taxpayers with a critical choice: voluntarily disclose undisclosed foreign assets and face a…
The Tax Problem You, Me, and Patrick Mahomes Have in Common
This Tax Foundation article uses Patrick Mahomes as a relatable entry point to explore a common tax problem facing ordinary…
US Expats Face Another Tax Setback: Is It Time to Finally Renounce US Citizenship?
US expatriates face ongoing tax challenges under the US citizenship-based taxation system, prompting renewed debate about renouncing US citizenship. The…
Ohio Bill Would Limit Tax Breaks For Institutional Investors
An Ohio legislative bill proposes limiting tax breaks available to institutional investors, targeting preferential tax treatment that large-scale investors currently…
Tax Reforms Lead to 1.32 Crore Updated Returns and ₹16,083 Crore in Additional Tax: CBDT Member
India's Central Board of Direct Taxes (CBDT) has reported significant results from recent tax reforms, with 1.32 crore updated income…
FBR mandates 5pc tax on social media influencers & content creators
Pakistan's Federal Board of Revenue (FBR) has introduced a 5% withholding tax on income earned by social media influencers and…
For Millionaires in Illinois’ Most Populous County, Voter Tax Question Could Cost You
A ballot measure in Cook County, Illinois, could impose a significant additional tax burden on millionaires if approved by voters.…
TDS on Virtual Digital Assets (VDA) U/S 393(1) [Earlier 194S]
This article explains the TDS provisions applicable to Virtual Digital Assets (VDA) under Section 393(1) of India's tax law, previously…
DVO Cannot Come First: Books Must Be Rejected Before Valuation Reference
An Indian tax ruling clarifies that tax authorities cannot refer a case to the District Valuation Officer (DVO) for property…
Multistate Monitor — As states decouple from OBBB, expert explains how to address now-incorrect tax estimates
As states begin decoupling from the federal One Big Beautiful Bill (OBBB), tax professionals face the challenge of correcting state…
2026 State Tax Ballot Measures to Watch
A review of state-level tax ballot measures expected in 2026 across the United States, highlighting proposed changes to state tax…
ITAT Bengaluru Addresses ₹1.23 Lakh Tax Demand Caused by Consultant’s Wrong Tax Regime Selection
The Income Tax Appellate Tribunal (ITAT) Bengaluru ruled on a case where a taxpayer faced a ₹1.23 lakh tax demand…
₹23.33 Crore Addition Deleted: ITAT Says Wrong ITR Column Is Not Undisclosed Income
India's Income Tax Appellate Tribunal (ITAT) deleted a ₹23.33 crore addition made by tax authorities who treated an entry in…
Section 24(b): Processing Fee, Insurance and Maintenance Charges Can Also Qualify as “Interest”
An Indian tax ruling has clarified that processing fees, insurance charges, and maintenance charges paid in connection with a housing…
Redevelopment of Housing Society: ₹18.40 Crore Capital Gain Cannot Simply Be Taxed in Society’s Hands
India's ITAT has ruled that a ₹18.40 crore capital gain arising from the redevelopment of a housing society cannot automatically…
Alabama Lawmaker Wants to Shield College Athletes From Surprise NIL Tax Bills
An Alabama lawmaker is proposing legislation to protect college athletes from unexpected tax liabilities arising from Name, Image, and Likeness…
SALT Break Sought by New York, California Pays Off Across the US
New York and California's push to restore the federal state and local tax (SALT) deduction has yielded benefits for taxpayers…
Use Making Tax Digital for Income Tax
HMRC's official guidance on Using Making Tax Digital (MTD) for Income Tax sets out the requirements for self-employed individuals and…
Polsky & Yale: “Fixing the QSBS Stacking Problem”
Academics Polsky and Yale propose a fix to the 'stacking problem' in Qualified Small Business Stock (QSBS) rules under Section…
Capital gains vs. wealth taxes
This article examines the comparative merits of capital gains taxes versus wealth taxes as policy instruments. The analysis likely explores…
Section 54GB Exemption on Start-up Investment: ITAT Allows ₹1.48 Crore Deduction
India's Income Tax Appellate Tribunal (ITAT) has allowed a ₹1.48 crore deduction under Section 54GB of the Income Tax Act,…
A Nephew Is a Relative—But Is He a Lineal Descendant?
An Indian tax ruling examines whether a nephew qualifies as a 'lineal descendant' under the Income Tax Act for the…
Living Constitutionalism, Originalism, and the 16th Amendment
An academic discussion examining how competing constitutional interpretation frameworks—living constitutionalism versus originalism—apply to the 16th Amendment, which authorizes the federal…
Six Days Instead of Seven: Karnataka HC Sets Aside Faceless Assessment for Violating Natural Justice
The Karnataka High Court has set aside a faceless income tax assessment order on natural justice grounds, finding that the…
Seized Excel Sheet, Cash Loans and Section 69: ITAT Upholds Addition When Assessee Could Not Explain the Entries
India's Income Tax Appellate Tribunal (ITAT) upheld a tax addition under Section 69 of the Income Tax Act after a…
Section 54F Exemption Allowed for Multiple Residential Units: ITAT Hyderabad Gives Relief
The ITAT Hyderabad bench has granted relief under Section 54F of the Income Tax Act, allowing a capital gains exemption…
ITAT Jodhpur: TDS Credit Can’t Be Rejected Solely Due to Reflection in Trustee’s PAN
The Income Tax Appellate Tribunal (ITAT) Jodhpur has ruled that TDS (Tax Deducted at Source) credit cannot be denied to…
WSJ: How to Play the Retirement Tax Guessing Game
The Wall Street Journal examines the challenges retirees face when planning for taxes in retirement, highlighting the uncertainty around future…
Annex 1 — payrolling examples for different scenarios
HMRC has published draft guidance and worked examples covering the mandatory payrolling of benefits in kind (BIK) in real time,…
Malaysia Public Ruling Tightens Tax Rules on Employee Secondments
Malaysia's Inland Revenue Board has issued a new Public Ruling tightening the tax treatment of employee secondments, with implications for…
The Safe Harbor Rule Every Founder Should Know
This article covers the safe harbor rule relevant to founders, likely addressing estimated tax payment thresholds or R&D/startup tax provisions…
Canada: Expanding the Scope of Taxable Canadian Property
Canada is broadening the definition of Taxable Canadian Property (TCP), which determines when non-residents are subject to Canadian capital gains…
Madras HC Considers Screenshot Proof of Technical Glitch, Orders Portal Access for ITR Upload
The Madras High Court ruled that screenshot evidence of a technical glitch on India's income tax portal constitutes valid proof,…
Madras HC Rejects Bogus LTCG Allegation Based on Sharp Jump in Share Price, Restores Section 10(38) Exemption
The Madras High Court rejected tax authorities' allegation that a taxpayer's long-term capital gains (LTCG) were bogus solely on the…
Getting Crypto Tax Reform Right Means Prioritizing Neutrality
This article argues that cryptocurrency tax reform should be guided by the principle of tax neutrality, ensuring that crypto assets…
Australia Floats Bill For 30% Min. Tax On Discretionary Trusts
Australia has introduced legislation proposing a 30% minimum tax on discretionary trusts, targeting income distributed to beneficiaries. The bill aims…
Let’s Talk About the Sec 962 Election
An examination of the Section 962 election, a US tax provision allowing individual shareholders of controlled foreign corporations (CFCs) to…
Mandatory payrolling of benefits in kind from April 2027
From April 2027, employers in the UK will be required to payroll benefits in kind (BiK) rather than reporting them…
ITR-BN: The New Return Form for Block Assessments – What Every Taxpayer Should Know
India has introduced ITR-BN, a new income tax return form specifically designed for block assessments — a mechanism used when…
Section 264 Cannot Become a Backdoor for a Time-Barred Revised Return: Supreme Court
India's Supreme Court has ruled that Section 264 of the Income Tax Act — which allows taxpayers to file revision…
IT Department Introduces Form 1 for Reporting Undisclosed Foreign Assets Under FAST-DS 2026
India's Income Tax Department has introduced Form 1 under the Foreign Assets and Tax Disclosure Scheme 2026 (FAST-DS 2026), enabling…
Income Tax Portal Allows Taxpayers to File Corruption & Harassment Complaints Online
India's Income Tax Department has launched an online facility on its official portal allowing taxpayers to file complaints related to…
The IRS Has Tips For Rebuilding Records After A Disaster. They Work The Rest Of The Time, Too
The IRS offers guidance on rebuilding tax and financial records following a disaster, with tips that also serve as good…
HMRC Defeats Shareholder Appeal Over £10M Payout
HMRC has successfully defeated a shareholder's appeal concerning a £10 million payout, with the tribunal or court ruling in the…
Big Change for Colorado Income Tax Makes Ballot
A significant proposed change to Colorado's income tax structure has qualified for the state ballot, giving voters a direct say…
No Tax Break For SC Homeowner With Nonresident Wife
A South Carolina homeowner has been denied a tax break after courts found that his nonresident wife's status affected his…
Crypto Tax in India 2026: Rules, Rates, Reporting & Penalties
An overview of India's cryptocurrency tax framework for 2026, covering the 30% flat tax rate on virtual digital asset gains,…
Delhi ITAT Restricts Reopening of Assessment Years Beyond Prescribed Period in Search Cases
The Delhi Income Tax Appellate Tribunal has ruled that tax authorities cannot reopen assessment years beyond the statutorily prescribed time…
Updated Return or FAST-DS: Which Route Works Better for Undisclosed Foreign Income or Assets?
An analysis comparing two disclosure routes available to Indian taxpayers with undisclosed foreign income or assets: the Updated Return mechanism…
What the New 1099 Reporting Rules Mean
New 1099 reporting rules are set to affect how businesses and individuals report income to the IRS. The updated requirements…
Investment Co. Disputes IRS' $166M Add-On To Capital Gains
An investment company is contesting an IRS determination that added $166 million to its capital gains liability. The dispute centers…
Strip Club Boss Wants Only Probation After $1.5M Tax Penalty
The owner of a strip club is seeking a probation-only sentence following a $1.5 million tax penalty, in a case…
UK Maps Out Pension Fund Inheritance Tax Reporting Rules
The UK government has released draft rules detailing how pension fund administrators and personal representatives must report inherited pension assets…
Ireland Proposes Retail Investment Accounts With Flat Tax
Ireland is proposing a new Retail Investment Account designed to encourage personal investment by Irish residents, featuring a simplified flat…
Pelosi Avoids Billionaire Tax Vote as Wealth Tax Turns Toxic in San Francisco
California congresswoman Nancy Pelosi is sidestepping a vote on a proposed billionaire wealth tax as the measure loses political momentum…
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