United States tax news
AskColm has 1203 articles tagged United States, drawn from over 130 tax sources. The most recent is dated 8 October 2026.
Showing the latest 50.
You’re Going the Wrong Way!
A Tax Notes piece by University of Michigan law professor Reuven Avi-Yonah questions proposals to force large private businesses to convert to C corporations, examining what policy goals such a move would actually achieve. The piece challenges the fiscal illusion…
Trump accounts expand to nearly 70M kids as stock proposal draws questions
The IRS has proposed rules to expand Trump accounts to nearly 70 million children, including a provision allowing donors to gift stock into these accounts. The proposal also requests comments on the strict minimum holding period requirements for beneficiaries.
A Tax-Side Agenda for Addressing US Budget Deficits
With the US federal government projected to borrow $1.9 trillion in 2026, roughly one quarter of $7.4 trillion in total spending, and public debt at 100% of GDP, the article outlines a tax-side agenda for addressing structural budget deficits outside…
New ITEP Analysis: Trump Policies Raise Taxes and Costs for All Income Groups but the Richest 1%
A new ITEP analysis finds that major tax and economic policies under President Trump's second term, including the 2025 tax law and health care tax changes, are increasing taxes and household costs for nearly all income groups except the wealthiest…
Pennsylvania Senate Democrats: Senator Kearney Introduces Constitutional Amendment to Repeal Uniformity Clause, Expand Options for Tax Fairness in Pennsylvania
Pennsylvania Senator Tim Kearney is introducing a constitutional amendment to repeal the state's Uniformity Clause, which currently requires a flat tax rate on all income. Removing the clause would allow Pennsylvania legislators to pursue graduated income tax structures and other…
New Fraud Division Flexes Might In Latest Enforcement Policy
The DOJ's National Fraud Enforcement Division has issued a new corporate enforcement policy focused on rapid pursuit of fraud cases using data analysis and expanded staffing. The policy broadens targets beyond traditional healthcare providers, signaling the division's growing influence within…
You Be the Tax Judge: The Verdict on a Money-Losing Horse Business
The US Tax Court ruled on a money-losing horse-breeding business, clarifying that sustained losses do not automatically classify an activity as a hobby. The decision is relevant to taxpayers engaged in activities with ongoing losses, as hobby classification disallows business…
A Warning for Importers: A CBP Prior Disclosure Does Not Count for DOJ
DOJ's National Fraud Enforcement Division issued Directive 26-12 on October 1, 2026, making trade fraud a corporate enforcement priority. Prosecutors must weigh ten factors when deciding whether to charge a company. Critically, a prior disclosure filed with CBP does not…
State Rundown 10/8: Ballot Debates and Gas Tax Promises Accelerate as Election Day Nears
As Election Day approaches, lawmakers in several states are debating proposals to suspend gas taxes amid rising fuel prices. The rundown covers ballot debates and political momentum around gas tax suspensions, with commentary on the cost and effectiveness of such…
Sen. Scott Can Trim Booz Allen Tax Info Leak Suit, Judge Says
A federal judge ruled that Senator Rick Scott may proceed with a narrowed negligence claim against Booz Allen Hamilton over the leak of his tax returns by an IRS contractor. Other claims were trimmed to avoid overlap with separate litigation…
The 1099 Workflow Gap: How CPA Firms Can Standardize W-9 Collection Before January
A practical guide for CPA firms on standardizing W-9 collection ahead of the February 1, 2027 1099-NEC filing deadline. Covers a five-stage workflow, vendor data controls, and handling TIN mismatches to close common compliance gaps in the 1099 reporting process.
Buffalo Sues Feds Over NY Tribe's Land Sale's Status
The city of Buffalo is suing the federal government to reverse a decision placing a 3.8-acre waterfront property into restricted fee status for the Seneca Nation of Indians, a move that could remove the land from the city's tax rolls…
Policy Matters Ohio: Gas Tax Holiday Won’t Make Ohio Affordable; Legislators Have Better Options
A Policy Matters Ohio analysis argues that a gas tax holiday is poorly targeted relief that provides minimal benefit to low-income Ohioans, drains state budget resources, and fails to address underlying affordability issues. The report contends legislators have better policy…
Credit for foreign tax: the curious case of Paul Bruyea
The US Court of Appeals, Federal Circuit ruled in Estate of Paul Bruyea v. United States (No. 25-1563) on August 31, 2026, addressing the foreign tax credit and double taxation. The case highlights an outcome that appears to run contrary…
US Drops Appeal Of $49M In Grants Won By Wind Farm
The U.S. government has dropped its Federal Circuit appeal regarding $49.4 million in renewable energy cash grants awarded to the country's second-largest wind farm, ending a 13-year dispute over the grant amount.
Former IRS chief teams with AICPA on AI tax risk group
Former IRS Commissioner Danny Werfel and the AICPA are forming a new group focused on advancing responsible AI use in tax administration and tax practice. The initiative aims to address AI-related risks in both the IRS and the broader tax…
Poll: Nearly Two-Thirds of New Yorkers Support Ending Income Tax
A poll commissioned by the Empire Center for Public Policy finds that nearly two-thirds of New York voters support eliminating the state income tax, with 67% saying they do not receive good value for the taxes they pay.
De Minimis Tariff Exemption Ends: How Shein and Temu Prices Doubled for U.S. Shoppers
The removal of the U.S. de minimis tariff exemption has significantly increased prices for consumers shopping on platforms like Shein and Temu, with prices reportedly doubling. The change ends the longstanding threshold that allowed low-value imports to enter the U.S.…
Agency Information Collection Activities: Comment Request on the Burden Related to Excise Tax on Repurchase of Corporate Stock
The IRS is inviting public comments under the Paperwork Reduction Act on the information collection burden related to the excise tax on corporate stock repurchases.
Low-Value Shipments
U.S. Customs and Border Protection proposes amendments to regulations governing informal entries for goods valued at $2,500 or less. Key changes include modified filing requirements, a new electronic informal entry type for mail environment shipments, additional data elements required from…
Amazon Patron's Sales Tax Overcharge Suit Tossed, For Now
A Washington federal magistrate judge dismissed a proposed class action against Amazon alleging overcollection of Tennessee sales tax, finding the plaintiff failed to demonstrate the overcollection was motivated by profit or other business motives. The case was dismissed without prejudice.
Amazon Patron's Sales Tax Overcharge Suit Tossed, For Now
A Washington federal magistrate judge dismissed a proposed class action against Amazon alleging overcollection of Tennessee sales tax. The court found the plaintiff failed to show Amazon's alleged overcollection was motivated by profit or other business purposes. The case was…
Tax Court Upholds 100% Penalty in Payroll Tax Case
A US Tax Court has upheld a 100% penalty against a business owner for willful failure to remit payroll taxes. The ruling confirms that responsible parties can be held personally liable for trust fund taxes when nonpayment is deemed willful.
The 2026 Ballot Measures Shaping State Taxes
Roughly 40 tax measures are on the 2026 ballot across 17 US states. Proposals include higher taxes on top earners, constitutional amendments locking in low rates, and a Missouri measure to establish a fund that could eventually replace all state…
Section 351 Exchanges and ETFs
The IRS issued Rev. Rul. 2026-20 targeting the use of Section 351 exchanges in the context of ETFs, specifically addressing so-called 'heartbeat' transactions. These transactions exploit ETFs' status as regulated investment companies under the tax code. The ruling signals IRS…
1st Circ. Skeptical Of Legal Basis For IRS-ICE Data Sharing
The First Circuit expressed skepticism at a hearing over the Trump administration's legal justification for sharing IRS tax records with ICE. The court questioned whether a tax code privacy exception for criminal investigations could be broadly used to access nearly…
Nonprofit's Ex-President Admits To Falsifying Tax Returns
A former president of a Telugu community nonprofit pleaded guilty in California federal court to conspiracy to defraud the US government. He falsified the organization's tax returns by reclassifying donor reimbursement expenditures as legitimate expenses.
A Small Value-Added Tax Could Pay for Tariff Repeal
The Tax Foundation argues that Trump administration tariffs should be replaced with a value-added tax, contending that a VAT would raise sustainable revenue with fewer economic distortions than the current tariff policy.
Ex-Tenn. County Commissioner Gets 2 Years For Tax Evasion
A former Tennessee county commissioner was sentenced to two years in prison for tax evasion after failing to report approximately $311,000 in income to the IRS over five years. The unreported income came from grants the commission awarded to nonprofit…
Survey of Tax Pros Shows Taxpayers Don’t Understand Extensions
A survey of tax professionals finds that misunderstandings about tax extensions are widespread, with 90% of respondents reporting that client confusion on the topic is very or somewhat common. The findings highlight a persistent gap between taxpayer understanding and actual…
Wolters Kluwer Adds Agentic Tax Preparation to TaxWise
Agentic tax preparation capabilities have been added to TaxWise, a product by Wolters Kluwer. The new features are designed to help tax preparers automate routine work, improve productivity and increase their capacity for return preparation.
Trump Says He’s Considering Gas Tax Suspension to Ease Costs
President Trump has said he is considering suspending the federal gas tax as part of his administration's efforts to reduce energy costs ahead of the midterm elections.
CAPE Phase 3 Set for October 6 After Data-Validation Delay: What Importers Should Know
The Supreme Court has ruled that the International Emergency Economic Powers Act does not grant the President authority to impose tariffs. A third phase of the CAPE process is scheduled for 6 October following a data-validation delay, with implications for…
Non – Americans (Non-Residents Non-Citizens or NRNCs) Should Be Careful With US Structures
Non-Americans, including non-residents and non-citizens, are warned to exercise caution when considering US structures promoted by various service providers. Concerns have previously been raised about whether US asset protection structures are appropriate for this group.
New York City’s Pied-a-Terre Tax: New Annual Surcharge on High-Value Non-Primary Residences Effective July 1, 2026 | | Andersen
New York City is introducing a pied-a-terre tax, an annual surcharge on high-value non-primary residences, effective July 1, 2026. The tax targets properties not used as a primary residence, adding a new layer of property-related taxation for owners of luxury…
Amazon Shoppers' Tariff Refund Suits Sent To Seattle As MDL
The Judicial Panel on Multidistrict Litigation has consolidated multiple proposed class actions against Amazon into a single proceeding in Washington federal court. The suits allege Amazon wrongfully denied online shoppers refunds on tariffs, with cases originally filed in Florida, Michigan,…
You Be The Tax Judge: They Loved Horses. They Lost Money. Was It Still A Business?
An Idaho couple continued to run a horse ranch over several years despite repeated financial losses. The IRS classified the operation as a hobby rather than a business, a distinction with significant tax implications. Readers are invited to decide who…
Senate Dems Call on IRS to Drop Citizenship Question From 1040 Form
A group of nearly a dozen Senate Democrats has written to IRS chief Frank Bisignano calling for the removal of a proposed citizenship and work authorisation checkbox from the 2026 Form 1040 before it is finalised.
Minor League Hockey Team Ex-Owner Cops To Tax Fraud
The former majority owner of a minor league hockey team in Charlotte has pleaded guilty to tax fraud after admitting he filed a false return in 2020 that significantly understated his income, according to court records filed in the Western…
Trump Allows Dyed Fuel In Highway Use, Defers Excise Taxes
President Trump signed an executive order to temporarily permit road vehicles to use dyed diesel fuel, which is ordinarily restricted to off-road use, and to defer the federal excise taxes that would normally apply.
Maryland amends local property tax credit authorized for dwelling houses of disabled veterans
Maryland's governor has signed legislation amending the eligibility criteria for a property tax credit applied against local property tax on the homes of disabled veterans.
ITEP Comment on Tax Credit Restrictions for Immigrants
A proposal would prevent certain immigrant tax filers from receiving the refunded portion of several tax credits, including the Earned Income Tax Credit, Additional Child Tax Credit, American Opportunity Tax Credit, and Adoption Tax Credit.
New State Taxes on the Wealthy Raise Revenue and Rebalance Tax Codes, Advancing Racial Justice
Raising taxes on wealthy individuals generates revenue for public services and makes tax codes fairer. Advocates argue that such policies also serve as an effective tool for advancing racial equity, though this aspect of the debate receives less attention than…
Commerce Restricts Polysilicon Stockpiling Ahead of December 4 Section 232 Tariffs: What Importers and Customs Brokers Need to Know
The US Department of Commerce is imposing restrictions on the stockpiling of polysilicon ahead of Section 232 tariffs. Importers and customs brokers are required to take specific steps before the tariffs come into effect on 4 December.
Presumed Reasonable: How Nonprofits Earn the Benefit of the Doubt on Executive Pay
Nonprofits can protect themselves from scrutiny over executive pay by following a strong compensation-setting process. A robust procedure can support fair pay practices and provide organisations with a degree of legal and regulatory protection.
Graetz on the New IRS Regulations to Revoke Tax-Exempt Status
Michael Graetz has published a piece in Tax Notes criticising proposed IRS regulations that would revoke the tax-exempt status of private schools. The regulations, published as REG-119986-25, are described by Graetz as an assault on pluralistic democracy. The full article…
California Refundable Credit Election May Create Planning Opportunity for Businesses Limited by the $5 Million Credit Cap | | Andersen
California businesses subject to the $5 million credit cap may have a planning opportunity through a refundable credit election. The election could allow businesses to recover credits that would otherwise be limited, offering a potential tax benefit for qualifying entities.
Recent Tariff Developments: Canada, IEEPA Refunds and Russian Energy
Recent tariff developments in the United States could affect importers, with new trade measures involving Canada, a further phase of the IEEPA refund process, and new rules relating to Russian energy trade.
IRS Gets Rid of 71 Pieces of Old Tax Guidance
The IRS is removing 71 pieces of guidance, including revenue rulings, revenue procedures, notices and announcements previously published in the Internal Revenue Bulletin. The move forms part of the Trump administration's broader effort to reduce regulations.
Florida Sales Tax Refund for Home-Hardening Products
Florida is offering a sales tax refund program for home-hardening products, likely aimed at encouraging residents to invest in storm or disaster-resistant home improvements. The refund or exemption provides a tax relief mechanism for qualifying purchases such as impact-resistant windows,…