Taxes

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Latest Taxes News

Simplifying VAT Compliance For Small Businesses: The New SME Scheme

Small and medium-sized enterprises (SMEs) make up an impressive 99% of all businesses in the European Union (EU), playing a…

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Treasury Issues FY 2025 Green Book: Proposes Changes For Late PFIC QEF Election

U.S. taxpayers with investments in passive foreign investment companies (“PFICs”) often face complex and punitive tax rules. Under the default…

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On May The 4th, A Tax Dispute That Started An Intergalactic War

This is a published version of our weekly Forbes Tax Breaks newsletter. You can sign-up to get Tax Breaks in…

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FTC Ban On Non-Compete Clauses Faces First Legal Challenge From Tax Services Firm

On April 23, 2024, the Federal Trade Commission (FTC) issued a final rule banning non-compete agreements. The final rule made…

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Court Unanimously Overturns Farhy, Finding IRS Has Authority To Assess Penalties

The D.C. Circuit Court issued a ruling today that the IRS does have the authority to assess foreign information return…

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New EV Tax Credit Rules To Challenge China’s Dominance

The Treasury Department released final rules refining the U.S. strategy on electric vehicles, extending the clean vehicle tax credit of…

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Venice Tourist Tax — A Controversial Policy

As of April 25th, Venice has begun charging an entry fee — a so-called “tourist tax” — for day-trippers from…

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Pennsylvania Man Sentenced To Prison For Role In Multi-Million Dollar Pandemic Fraud Scheme

A man from Harrisburg, Pennsylvania, was sentenced to more than four years in prison for his role in a multi-state,…

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Tax And Legal Professionals Warm Up To AI, But Trust Is Still An Issue

You know a technical topic like generative artificial intelligence (GenAI) has officially crossed over into the mainstream when a dinner…

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Filing Deadline For Most Tax-Exempt Organizations Is May 15

While tax season is over for many taxpayers (except those of us still on extension), tax-exempt organizations still have to…

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