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One-Year Inflation Expectations Reach Three-Year High: NY FedAmericans’ expectations for inflation in the short-term jumped last month while their sentiment toward the labor market improved, according to a Federal Reserve Bank of New York survey released Wednesday.

Bloomberg Tax News1d agoWhole story →

Irish Parliament Warns Government Over Corporate Tax DependenceIreland’s fiscal surplus remains dependent on corporate taxes from a small number of foreign multinationals, lawmakers have cautioned.

Bloomberg Tax News1d agoWhole story →

Economy irish budget announcement

BGOV OnPoint: Crypto Tax Push Sees Late Momentum as Clock TicksA renewed bipartisan effort to streamline tax reporting rules for cryptocurrency users has inched forward on Capitol Hill, but lawmakers’ window for action is tightening with few legislative days left on the calendar.

Bloomberg Tax News1d agoWhole story →

Economy S 5616 HR 10357 crypto tax legislation

South Korea Assembly Considers Bill to Partially Amend Special Tax Measures ActThe South Korean National Assembly Sept. 29 accepted for consideration Bill No. 2221609, to partially amend the Special Tax Measures Act. The bill includes a measure to extend to Dec. ...

Bloomberg Tax News2d agoWhole story →

Economy south korea tax bill consideration

Vance Fraud Panel Raises Data Sharing Issues, Ex-Prosecutor SaysA task force led by Vice President JD Vance that targets federal benefits abuse could run into challenges when it tackles cases involving taxes, a former Justice Department tax attorney said.

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Economy vance fraud panel launch

Chicago Authorities Say Federal Law Permits Social Media TaxChicago’s social media amusement tax isn’t preempted by a federal law protecting electronic commerce from discriminatory taxes because there are no offline services similar to social media, city authorities said in a filing.

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Culture chicago social media tax lawsuit

Rick Scott, Booz Allen Clash Over Venue in Tax Info Leak DisputeSen. Rick Scott (R-Fla.) encountered objections to keeping his lawsuit over the leak of his confidential tax information by a Booz Allen Hamilton Inc. employee in a Florida federal district court, with the company arguing there’s no connection to the state.

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Technology scott tax info leak lawsuit

Republicans Use Field Hearing to Tout Tax Bill Ahead of MidtermsRepublicans touted tax perks for small businesses and manufacturing at a field hearing in deep-red Tennessee ahead of the November midterm elections, even as the party faces stiff headwinds over soaring fuel costs and affordability.

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Economy midterm elections

Inflation Taxation Needs a Fiscally Responsible Fix From CongressProperly taxing capital gains would free up assets for sale that might otherwise remain unsold, including long-held homes and long-held stocks, according to two Akin attorneys and the former global head of tax at Ares Management.

Bloomberg Tax News3d agoWhole story →

Economy capital gains tax reform

Kelly’s AI Tax Bill Struggles to Link Tech With Economic HarmsCongress must decide what aspect of AI activity it wants to measure before it can tax that activity coherently, writes Andrew Leahey in Technically Speaking.

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Economy ai tax bill proposal

State Law Extends Tax Foreclosure Cases’ Deadline, Judges SayA federal district court wrongly relied on federal law when it dismissed a group of Michiganders’ cases seeking recovery of surplus proceeds a county retained after foreclosing on their homes, the US Court of Appeals for the Sixth Circuit said Monday.

Bloomberg Tax News3d agoWhole story →

Build tax foreclosure ruling

Kimco Loses California Bid to Pair REIT Dividend Tax BenefitsKimco Realty Corp., a real estate investment trust specializing in shopping centers, can’t use the same intercompany dividends both to reduce its taxable income in California and support a federal tax deduction, a state tax tribunal ruled in an opinion posted Monday.

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Economy california tax ruling

Bipartisan Caucus Wants More HUD Funding in Fight to Add HousingA bipartisan pro-growth caucus in the House is calling for more resources, funding, and oversight for the Department of Housing and Urban Development to implement the housing package passed over the summer.

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Build hud funding request

Judge Seems Likely to Expand Scope of Pandemic-Era Tax ReliefA federal judge indicated during oral arguments Monday he probably will broaden the scope of a ruling from 2025 that called into question billions of tax dollars paid to the IRS during the Covid-19 pandemic.

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Economy tax relief ruling

Supreme Court Won’t Hear Corporate Transparency Act ChallengesThe US Supreme Court won’t review whether a federal law enacted to combat financial crimes called the Corporate Transparency Act violates the Fourth Amendment and exceeds the limits of Congress’ commerce power.

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Government supreme court ruling

Supreme Court Skips Dispute Over Federal Shield From State TaxThe US Supreme Court said Monday it won’t weigh in on whether the federal safe harbor from state income tax protects only businesses that sell tangible personal property.

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Government supreme court tax dispute ruling

Bessent’s Rosy Forecasts Are Putting His Credibility at RiskIn his 20 months on the job, Treasury Secretary Scott Bessent has made a habit of putting his economic predictions on the record. The housing market, he said in February 2025, will “unfreeze” within weeks, and inflation could return “quickly” to the Federal Reserve’s 2% target. In April, he offered a forecast that spoke directly to the pocketbook…

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Build treasury forecasts

US Fight to Regulate Stablecoin Is a Tax and Economics ProblemThe Clarity Act isn’t a tax bill, but the different forms of stablecoin yield it distinguishes raise tax questions, Indiana University’s Vivian Fang writes.

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IRS Calls Watchdog’s Agent Mask Policy Recommendation ‘Reactive’An IRS watchdog report recommended the agency review its policy on body-worn cameras, and develop a mask policy with a documentation process when supporting other agencies on federal task forces.

Bloomberg Tax News6d agoWhole story →

Justice irs mask policy dispute

Oklahoma Charter School Owners Dispute $76 Million Excise TaxesPart-owners of a for-profit company that managed a nonprofit virtual school challenged more than $76 million in federal excise taxes the IRS assessed against them for allegedly receiving excess financial benefits from the nonprofit in 2018 and 2019.

Bloomberg Tax News6d agoWhole story →

Education tax court challenge