Rep. Suhas Subramanyam, D-Va., is asking the IRS to remove administrative hurdles for married couples filing jointly that can lead to processing delays or lost tax payments. Read more: https://taxnotes.co/4ga9gie

Inventory tax accounting rules and economic performance recognition timing principles will help businesses affected by the recent contaminated lettuce recalls recover their related costs, according to tax professionals who spoke with Tax Notes. Read more: https://taxnotes.co/4w88qrd

"Graham Platner’s Senate campaign ended in disgrace," @joethorndike.bsky.social writes. "But it still has something to teach his fellow Democrats — especially about taxes."

Platner Is Gone, But His Billionaire Tax Plan Still Matters

Joseph J. Thorndike examines former Senate hopeful Graham Platner’s tax plans and whether they could offer an attractive tax policy more broadly for Democrats.

forbes.com

The future is unclear for a House-passed, bipartisan bill that would expand a tax deduction to early childhood educators, because the Senate is swapping it out for sanctions legislation championed by Lindsey Graham, the late Republican senator. Read more: https://taxnotes.co/4g2YFpl

The injunction halting the sharing of taxpayer information with U.S. Immigration and Customs Enforcement should remain to stop further harm from happening, including wrongful arrests and deportations, a group of organizations argued in federal court. Read more: https://taxnotes.co/4bLX0C4

One year and one filing season later, how has the "No Tax on Tips" provision of the One Big Beautiful Bill Act affected the workers it was designed to help? In this week's podcast episode, Tax Notes legal reporter Trevor Sikes explains. 👇

'No Tax on Tips’ One Year Later: A Win for Workers? - Tax Notes Talk

Tax Notes legal reporter Trevor Sikes investigated how the qualified tips deduction under the One Big Beautiful Bill Act has affected tipped workers in the year since the law's enactment.Sikes and fel...

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"The fact that Trump accounts are part of the tax code isn’t ideal, because they’re not fundamentally a tax policy," Marie Sapirie writes.

The Bells And Whistles Of Trump Accounts

Marie Sapirie examines the launch of Trump accounts and the accompanying educational information on financial literacy.

forbes.com

A group of Senate Democrats has requested that an IRS watchdog investigate reports that former Treasury Assistant Secretary for Tax Policy Kenneth Kies was ousted after raising concerns about alleged presidential interference in audits.

Senate Democrats Ask Watchdog to Investigate Kies Departure | Tax Notes

Tax Notes is the first source of essential daily news, analysis, and commentary for tax professionals whose success depends on being trusted for their expertise.

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A government watchdog recommended that Treasury and the IRS devise a way to identify public comments submitted using artificial intelligence and improve economic analyses of tax regulations.

IRS Unprepared for AI Use in Public Comments, Watchdog Finds | Tax Notes

Tax Notes is the first source of essential daily news, analysis, and commentary for tax professionals whose success depends on being trusted for their expertise.

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Developments in the artificial intelligence sector are expected to trigger economic growth, but any noticeable change to federal tax revenues depends largely on how output is allocated, according to a new report.

AI’s Impact on Tax Revenues Hard to Estimate, Think Tank Says | Tax Notes

Tax Notes is the first source of essential daily news, analysis, and commentary for tax professionals whose success depends on being trusted for their expertise.

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"Against this background of relative opacity, the king’s voluntary disclosure appears to be a welcome change," Robert Goulder writes. "However, upon closer inspection, I’m unimpressed. Something doesn’t seem quite right."

‘Don’t Complain, Don’t Explain’ — King Charles III and Tax Transparency | Tax Notes

Robert Goulder comments on the voluntary tax disclosures regarding members of the British royal family.

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President Trump and Republican lawmakers have floated several tax proposals over the past year, but time is winding down to pass legislation ahead of the midterm elections. Read more: https://taxnotes.co/4gE9sHq

"Proposals to tax artificial intelligence are not as novel as they look," @joethorndike.bsky.social argues. "They belong to an old habit in American politics: using the tax system to manage innovations that create obvious winners and losers."

Before Taxing AI, Consider The Chain Store Taxes Of The 1930s

Joseph J. Thorndike argues proposals to tax AI belong to the old habit in American politics of using the tax system to manage innovations that create winners and losers.

forbes.com

A new IRS legal memo concluding that a limited partner’s conditional deficit restoration obligation isn’t a payment obligation for purposes of the partnership debt allocation rules raises more questions than it answers. Read more: https://taxnotes.co/3T2XIo2

Thanks @taxnotes.com for contextualizing the AI Equity Tax that @bearerfriend.bsky.social and I propose against historical depression-era tax proposals! I learned a lot about tax history

A federal judge ruled that President Trump’s $10 billion lawsuit against the IRS was never truly adversarial, finding that the president controlled both parties and sanctioning his personal attorneys for pursuing the suit in bad faith. Read more: https://taxnotes.co/44pbzHM

Tax professionals are cautioning that if the IRS eventually loses its appeal in the case of Kwong, it will have to process the mountain of pandemic-era refund claims, creating a long timeline for payouts. Read more: https://taxnotes.co/4vw1WlA

"Tax amnesty programs — in Europe and elsewhere — commit a cardinal sin by making chumps out of law-abiding taxpayers," Tax Notes contributing editor Robert Goulder argues.

Does Italy’s Tax Amnesty Scheme Violate EU Law?

Robert Goulder comments on the advocate general's opinion in Isolanti Group, a case currently before the Court of Justice of the European Union.

forbes.com

Public country-by-country reporting for multinational enterprises is dangerous because it may lead to misinterpretation of complex financial data, according to a top U.S. Treasury official.

Public CbC Reporting Is ‘Dangerous,' Treasury Official Says | Tax Notes

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Three top Democratic senators have sent letters to several companies affiliated with President Trump requesting information about whether they’re shielded from audits under his controversial settlement agreement with the IRS.

Democrats Keep Up Questions on Trump's IRS Audit Deal | Tax Notes

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A U.S. court has invalided the global intangible low-taxed income regs, which limit deductions related to disqualified basis, because Treasury lacked authority to promulgate the rule in light of the Supreme Court overturning Chevron deference. Read more: https://taxnotes.co/4f0Xsgt

The One Big Beautiful Bill Act could be one of the most significant tax laws of our time, but the jury is still out after its first year in effect. Tax Notes senior reporter Katie Lobosco gives four reasons why Americans may not have felt its impact at the one-year mark. 👇

Four Reasons the Historic Tax Law Hasn't Felt as Big as It Is | Tax Notes

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"This settlement and this taxpayer privacy lawsuit and the release of claims are part of a broader story of the breaking down of guardrails designed to prevent politicization of federal tax administration," Brandon DeBot of @taxlawcenter.org said.

Trump’s IRS Lawsuit And Settlement: What Comes Next?

Brandon DeBot of the Tax Law Center at New York University discusses President Trump’s lawsuit and subsequent settlement with the IRS, where things stand with the "Anti-Weaponization" Fund, and potent...

forbes.com

Americans often remember the Revolution as a tax revolt. So why does the Declaration of Independence mention taxes only once? As the U.S. celebrates its 250th birthday, @joethorndike.bsky.social explains the hidden tax argument in our nation's founding document.

The Hidden Tax Fight In The Declaration Of Independence

Joseph J. Thorndike examines the historical context behind the single tax grievance in the Declaration of Independence.

forbes.com

As Trump accounts near their July 4 launch, the American Institute of CPAs urged taxpayers to do their research to avoid unexpected tax liabilities. Read more: https://taxnotes.co/4aUI2Jy

Several bills aimed at improving IRS service, strengthening taxpayer protections, and creating more transparency for tax-exempt hospitals were advanced to the full House for consideration. Read more: https://taxnotes.co/4eVNMns

Allowing equitable tolling of the Tax Court’s 90-day deadline for deficiency petitions would destabilize the entire tax collection system, the IRS told the Tenth Circuit.

IRS: Tolling Deficiency Deadline Would Topple Tax ‘Jenga Tower' | Tax Notes

taxnotes.com

A taxpayer claiming that her reliance on TurboTax is to blame for her failure to report almost $300,000 in foreign gifts lacks a colorable reasonable cause defense, the government told a federal court. Read more: https://taxnotes.co/4v2TPgc

The Trump v. IRS settlement is "part of a broader story about the breaking down of guardrails designed to prevent politicization of federal tax administration" says Policy Director Brandon DeBot in a conversation with @taxnotes.com. taxnotestalk.taxnotes.com/124942/episo...

Trump’s IRS Lawsuit and Settlement: What Comes Next? - Tax Notes Talk

Brandon DeBot of the Tax Law Center at New York University discusses President Trump’s lawsuit and subsequent settlement with the IRS, where things stand with the "Anti-Weaponization" Fund, and potent...

taxnotestalk.taxnotes.com

The OECD’s updated global minimum tax impact assessment indicates that although the so-called side-by-side package mostly safeguards pillar 2’s goal of curbing profit shifting, tax revenue estimates have decreased, an OECD tax official said. Read more: https://taxnotes.co/4vEmDNa