Worldwide: Tax

On June 18, 2026, the Massachusetts Supreme Judicial Court (SJC) held that a proposed initiative petition, No. 25-18, to reduce the Commonwealth’s personal income tax rate from 5% to 4% cannot appear on the November...

Congress is considering multiple legislative proposals to modernize cryptocurrency taxation, ranging from targeted bills addressing specific issues to a comprehensive bipartisan measure. The proposals tackle critical questions about wash sales, mining rewards, staking income, and stablecoin transactions that could reshape how digital assets are taxed in America.

Prediction markets have emerged as one of the fastest-growing areas of online speculation, forecasting, and information-based trading.

As Cadwalader approaches its merger with Hogan Lovells on July 1, the firm reflects on eight years of BrassTax publication, which has provided clear insights on major tax developments from the 2017 Tax Cuts and Jobs Act to cryptocurrency taxation and energy tax credits. The publication will integrate into the combined firm's platform over the summer, promising expanded coverage with a broader group of contributors in the fall.

One message stood out during our Tax Symposium 2026 session, Tax controversy: What’s hot and what’s not: The Internal Revenue Service (IRS) is becoming more strategic...

Global families investing in U.S. real estate face critical tax structuring decisions at acquisition that can either preserve wealth or create decades of avoidable exposure. How should international investors structure their U.S. property purchases to minimize estate tax, FIRPTA obligations, and state tax compliance issues before closing the deal?

Greenberg Traurig shareholder Breen Schiller has submitted formal comments and testimony to Illinois tax authorities regarding proposed amendments to regulations governing addbacks for interest and intangible expenses in transactions with 80/20 companies. The comments address concerns about conduit exception narrowing, limitations on the "unreasonable" standard, and reliance on private letter rulings that may create administrability challenges for Illinois businesses.

Customs valuation determines the value of imported goods for assessing duties and taxes, with tariffs calculated as a percentage of declared entered value. Understanding transaction value methods, assists, royalties, Incoterms, and transfer pricing requirements is critical for multinational companies to avoid costly compliance errors and unexpected tariff liabilities.

One message stood out during our Tax Symposium 2026 session, Tax controversy: What’s hot and what’s not: The Internal Revenue Service (IRS) is becoming more strategic...

The Supreme Court unanimously ruled on whether a Michigan county violated constitutional protections when it sold a foreclosed property at public auction for significantly less than its assessed value to satisfy a tax debt. The case examines the meaning of "just compensation" under the Fifth Amendment's Takings Clause and whether keeping proceeds beyond taxes owed constitutes an excessive fine under the Eighth Amendment.

State and local governments are increasingly targeting second homes with new taxes to boost revenue and address housing shortages, with creative legislation like Rhode Island's "Taylor Swift tax" and New York's "Pied-a-terre tax" leading the charge.

New York has introduced a surcharge on high-value residential properties in New York City that are not used as primary residences, effective July 1, 2026.