Tax Law and International Tax Law

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Tax law and international tax law thought leadership, articles, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics such as capital gains tax, corporate tax, income tax, inheritance tax, national insurance, property taxes, sales taxes, VAT, GST, tax authorities, transfer pricing and withholding tax.
Article
Long Island School Districts Face Scrutiny Over Excess Cash Reserves
Twelve Long Island school districts exceeded New York State's legal limit on unrestricted cash reserves during the 2025-26 school year, holding nearly $3.64 billion collectively. While administrators defend these reserves as prudent financial planning against inflation and unexpected costs, taxpayers question whether excess funds should instead be applied to reduce their substantial property tax burdens, which already see school taxes comprising more than half of homeowners' total property tax bills.
United States Tax
FF
Farrell Fritz, P.C.
Podcast
GeTtin’ SALTy Episode 81 | Washington’s B&O Tax: Time For A Change? (Podcast)
Washington State Representative April Berg discusses her proposal to replace the state's 1933-era Business and Occupation gross receipts tax with a margins-based structure. The conversation explores the historical context of the B&O tax's complexity, including its 100+ rate categories, and examines why Washington has maintained this system while other states moved away from gross receipts taxation.
United States Tax
GT
Greenberg Traurig, LLP
Article
IRS – Foreign Vessel Owners Face U.S. Income Tax Under The Jones Act Waiver
The IRS has issued new guidance requiring foreign vessel owners operating under the Jones Act waiver to report income from U.S. interstate voyages as domestic source income subject to federal taxation. This marks a significant departure from the typical treatment of international shipping income, which often benefits from exclusions and treaty exemptions, and creates unexpected tax obligations for foreign corporations that have been transporting cargo between U.S. ports under the historic waiver.
United States Tax
WT
Winston Taylor
Article
New IRS Section 987 Rules: What Every Business Owner With Foreign Operations Needs To Know
The IRS has finalized new Section 987 regulations that fundamentally change how businesses with foreign operations report currency gains and losses, with compliance beginning for the 2025 tax year. These regulations require taxpayers to calculate cumulative foreign currency positions dating back to 2006 or entity inception, while IRS Notice 2026-17 offers a simplified election that may reduce administrative burden for qualifying businesses. Understanding these changes now is critical to avoid penalties, ens
United States Tax
MG
MGO CPA LLP
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Tax Disputes

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Inheritance Tax

Article
New IRS Guidance Addresses Gift Tax Questions For Trump Accounts
The IRS and Treasury Department have issued new guidance addressing how contributions to Trump Accounts are treated for federal gift tax purposes, creating a safe harbor for qualifying donors. Revenue Procedure 2026-25 establishes specific requirements that allow certain contributions to be treated as completed gifts of a present interest, eligible for the annual gift tax exclusion without requiring Form 709 filing. Understanding these requirements is critical for donors to ensure compliance and avoid unnec
United States Tax
JW
Jones Walker
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Tax Treaties

Article
New IRS Section 987 Rules: What Every Business Owner With Foreign Operations Needs To Know
The IRS has finalized new Section 987 regulations that fundamentally change how businesses with foreign operations report currency gains and losses, with compliance beginning for the 2025 tax year. These regulations require taxpayers to calculate cumulative foreign currency positions dating back to 2006 or entity inception, while IRS Notice 2026-17 offers a simplified election that may reduce administrative burden for qualifying businesses. Understanding these changes now is critical to avoid penalties, ens
United States Tax
MG
MGO CPA LLP
Article
Proposed Regulations Address CFC Taxable Year And Partial FTC Disallowance On PTEP Distributions
The U.S. Treasury Department and IRS have issued proposed regulations addressing two significant changes to the Internal Revenue Code made under the One Big Beautiful Bill Act: the allocation of foreign income taxes following the repeal of the one-month deferral election for controlled foreign corporations, and the new partial foreign tax credit disallowance on certain previously taxed earnings and profits distributions. These regulations introduce four new elections that provide taxpayers with greater flex
United States Tax
AO
A&O Shearman
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Corporate Tax

Podcast
GeTtin’ SALTy Episode 81 | Washington’s B&O Tax: Time For A Change? (Podcast)
Washington State Representative April Berg discusses her proposal to replace the state's 1933-era Business and Occupation gross receipts tax with a margins-based structure. The conversation explores the historical context of the B&O tax's complexity, including its 100+ rate categories, and examines why Washington has maintained this system while other states moved away from gross receipts taxation.
United States Tax
GT
Greenberg Traurig, LLP
Article
IRS – Foreign Vessel Owners Face U.S. Income Tax Under The Jones Act Waiver
The IRS has issued new guidance requiring foreign vessel owners operating under the Jones Act waiver to report income from U.S. interstate voyages as domestic source income subject to federal taxation. This marks a significant departure from the typical treatment of international shipping income, which often benefits from exclusions and treaty exemptions, and creates unexpected tax obligations for foreign corporations that have been transporting cargo between U.S. ports under the historic waiver.
United States Tax
WT
Winston Taylor
Article
New IRS Section 987 Rules: What Every Business Owner With Foreign Operations Needs To Know
The IRS has finalized new Section 987 regulations that fundamentally change how businesses with foreign operations report currency gains and losses, with compliance beginning for the 2025 tax year. These regulations require taxpayers to calculate cumulative foreign currency positions dating back to 2006 or entity inception, while IRS Notice 2026-17 offers a simplified election that may reduce administrative burden for qualifying businesses. Understanding these changes now is critical to avoid penalties, ens
United States Tax
MG
MGO CPA LLP
See more

Tax Authorities

Podcast
GeTtin’ SALTy Episode 81 | Washington’s B&O Tax: Time For A Change? (Podcast)
Washington State Representative April Berg discusses her proposal to replace the state's 1933-era Business and Occupation gross receipts tax with a margins-based structure. The conversation explores the historical context of the B&O tax's complexity, including its 100+ rate categories, and examines why Washington has maintained this system while other states moved away from gross receipts taxation.
United States Tax
GT
Greenberg Traurig, LLP
Article
New IRS Section 987 Rules: What Every Business Owner With Foreign Operations Needs To Know
The IRS has finalized new Section 987 regulations that fundamentally change how businesses with foreign operations report currency gains and losses, with compliance beginning for the 2025 tax year. These regulations require taxpayers to calculate cumulative foreign currency positions dating back to 2006 or entity inception, while IRS Notice 2026-17 offers a simplified election that may reduce administrative burden for qualifying businesses. Understanding these changes now is critical to avoid penalties, ens
United States Tax
MG
MGO CPA LLP
Article
NCDOR Important Notice: Impact Of Recently Enacted Laws On North Carolina Individual And Corporate Income Tax Returns
The North Carolina Department of Revenue has issued guidance on three significant tax changes affecting individual and corporate income tax returns. These changes include new rules for domestic research and experimental expenditures, a special deduction for timber casualty losses from Hurricane Helene, and expanded gambling loss deductions. Understanding how these legislative updates impact your tax filing obligations and whether amended returns are necessary is crucial for compliance.
United States Tax
YM
Young Moore and Henderson
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