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Case: Petitioners Unable to Establish Good Faith Reliance on Professional Advice Where Evidence Did Not Show Preparer Was Competent (T.C. Bench) (IRC §6664)

Petitioners did not meet the burden for establishing reasonable cause and good faith by relying on professional advice and were therefore liable for accuracy-related penalties, held the U.S. Tax Court ...

IRS Announcement: Partial Suspension of U.S.-Russia Tax Treaty

Notice of partial suspension of the U.S.-Russia tax treaty, the IRS announced. The United States provided formal notice to the Russian Federation on June 17, 2024, to confirm the suspension ...

Case: Petitioners Bound by Stipulated Adjustment to Income, IRS’s Deficiency Determination Upheld (11th Cir.)

Petitioners were bound by a stipulation agreed to at trial that income reported on 2013 Form 1040, Schedule E, should be increased by $1 million, and failed to justify overruling ...

How the Wealthy Are Prepping for an Estate Tax Clip (Podcast)

How EY Is Tackling Global Minimum Tax Compliance

Chevron Cases Seen as Having Little Tax Rule Impact

Revival of Property Tax Suit Puts NYC in Hot Seat

From the Analysts

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BTAX OnPoint: OECD Releases Report on Pillar One - Amount B

The OECD issued a report outlining the rules under Pillar One - Amount B of its global tax deal.

BGOV OnPoint: Key Biden Rules Could Be Nixed By GOP, Trump

A legislative tool that makes it easier for Congress to overturn federal agency regulations has become a flashpoint this year as the Biden administration races to finalize key rules ahead of the elections.

BTAX OnPoint: Computing the Primary Foreign Tax Credit Limit

The IRS and Treasury Department issued new rules to help taxpayers working on foreign tax credit calculations, both for 2023 and going forward, continuing to add options and flexibility to foreign tax credit rules it issued in early 2022 (T.D. 9959). Corporations and other taxpayers that claim foreign tax credits (FTCs) need to layer in the impact of the §904 limit when evaluating the options now available.

Free Tax Filings Threaten $4 Billion TurboTax Business

Bloomberg Tax Journals

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Public CbCR: Shaping the Organization’s Workforce Story

For HR and Global Mobility specialists, navigating the complexities of public CbCR requires an understanding of the nuances of employee data reporting and the ability to communicate this information effectively to stakeholders, say KPMG practitioners.

EU Carbon Border Adjustment Mechanism Damaging ASEAN Businesses?

ASEAN-based companies will need to identify and assess the financial impact of the EU’s Carbon Border Adjustment Mechanism and then position themselves to take advantage of the incentives to support the transition to a low-carbon future, say EY practitioners.

Help Clients Confront Morbid Life Truths to Protect Their Assets

There are two types of clients: those who plan ahead and those who don’t. Those who do, usually save first and then spend what’s left over and those who don’t usually spend first and then save what’s left over.

Latest Stories

France Leftists’ Plans Include 90% Top Marginal Income Tax Rate

<-bsp-bb-link state="{"bbHref":"bbg://screens/COUN%20FR%20RISK","_id":"00000190-4733-d497-a7fb-ef3fdf170000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">France’s leftist alliance would raise the top marginal income tax rate to 90% if it were to take over the government following legislative elections that run through July 7.

India To Hold GST Rate Rationalization Talks in Aug., FM Says

An Indian tax panel will begin talks on rate rationalization under the Goods and Services Tax beginning August, Federal Finance Minister <-bsp-person state="{"_id":"00000190-4737-d497-a7fb-ef3fdcab0000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Nirmala Sitharaman said Saturday.

Billionaires Come Under Siege in France’s Election Campaign

France’s billionaire Saade family spent more than four decades discreetly building a global shipping empire from their base in the southern city of Marseille. The late founder mostly shirked elite Parisian social circles and the publicity that comes with politics.


Daily Tax Report: International Daily Tax Report: State Transfer Pricing Report The Exchange: Tax Insights & Commentary
  • Daily Tax Report: International
  • Daily Tax Report: State
  • Transfer Pricing Report
  • The Exchange: Tax Insights & Commentary

Hungary to Sign Air Transport Agreement With Tanzania

The Hungarian Official Gazette June 18 published Decision No. 57/2024 (VI. 18) ME, authorizing the Ministry of Construction and Transport to sign an air transport agreement with Tanzania. [Hungary, Government ...