Tax News

Tax Notes chief correspondent Amanda Athanasiou discusses the growing global popularity of carbon border adjustment mechanisms, the EU’s new regime, and how border adjustments can be used to support carbon pricing and environmental policy.

The Supreme Court will hear oral arguments in Moore v. U.S. The case centers on a 2017 provision that requires companies to pay tax on previously untaxed foreign profits.

Justices could deliver the wealthiest Americans a win by striking down a tax on unrealized income.

Swiss Private Bank Banque Pictet Admits to Conspiring with U.S. Taxpayers to hide income. The Bank has also entered into a Deferred Prosecution Agreement.

The plan, now exceeding $100 billion, will package an assortment of initiatives to satisfy the demands of both parties by, as usual, running up the deficit.

They show up in celebrity divorces (think Kevin Costner), big bankruptcies (think FTX) and financial fraud cases. But you don’t have to be famous to benefit from the help of a deep diving accounting pro.

Nana Ama Sarfo discusses global implementation of the OECD’s automatic exchange of information framework.

An email advising businesses to register to file Forms W-2 with Social Security by the deadline is legit. Here’s why you might have received one.

If you have a big wad in a pretax IRA, sit down with your accountant now.

For the recipient, the payment may be taxable, not taxable, or partially taxable. Moreover, if the payment is taxable, it may be subject to ordinary income tax rates.

This article offers a short, simple answer to a difficult question: Why is taxation without receipt fair?

Jeffrey Harmon was sentenced to 24 months in prison for preparing and filing false individual income tax returns for himself and his clients.

Sen. Finance Chairman Ron Wyden (D-Ore.) and U.S. Rep. Earl Blumenauer (D-Ore.), have reintroduced legislation to end federal alcohol taxes on kombucha companies.

A Florida man was sentenced to 27 months in prison for promoting a scheme to file false documents with the IRS to fraudulently obtain large tax refunds.

Housing prices continue rising, but “supply skeptics” block development, wrongly believing that adding more supply won’t lower prices.

In a recent case, the Tax Court again considered whether the 90-day time period to file a deficiency petition in the Tax Court is jurisdictional in nature.

Going back to square one sounds simple, but the tax system is rigid. Even so, the IRS accepts unwound transactions if everything occurs in the same tax year.

At year-end, families are waiting to see if Congress will expand the Child Tax Credit (CTC). Several modest options can help low-income families.

California tax officials are reporting recent cannabis tax revenue. Since January 2018, total cannabis tax revenue in the state to date is nearly $5.5 billion.

Wally Hellerstein of the University of Georgia Law School discusses the emerging state guidance for taxing cryptoassets.

The IRS has been busy in the international realm triggering several court decisions that should get the attention of all taxpayers with any level of global reach.

The IRS is warning taxpayers about email and text message scams involving refunds, as well as holiday-related schemes.

Some taxpayers are still waiting for returns to be processed. According to the IRS, they are “working hard to get through the inventory.”

A key issue with all charitable donations is value. The IRS might encounter several problems in the realm of art donations if it sticks with its standard procedures.

Ryan Finley explains that Coca-Cola’s prospects for success in its blocked income dispute with the IRS are bleak even if the blocked income regulations are ultimately struck down on appeal.

Approximately 95% of married couples file taxes jointly. That usually save money, but a joint return means that both spouses are on the hook for any mistakes.

A new law increases tax-free ways to give from IRAs.

Some mutual funds cause year-end tax pain with their capital gains. Here are the offenders—and preventive steps to take.

Trusts are common, and there are many variations. There are revocable, irrevocable, domestic and foreign trusts, and different tax rules apply to each. Some go to far.

The PNC Christmas Price Index (PNC CPI) is calculated using a method similar to the government’s consumer price index (CPI).

The alert includes ERC fraud red flags which overlap with warning signals of financial crimes related to Economic Impact Payments, or stimulus checks.

It’s been just one year since GenAI mania hijacked the news cycle and set in motion a tidal wave of rampant speculation about our work lives changing forever.

Because the taxpayer was within the treaty exception, the court found that the taxpayer did not have an FBAR reporting obligation.

It didn’t take long after the IRS announced an additional delay in enforcing the new $600 reporting threshold for Forms 1099-K to garner reactions.

Tax Notes contributing editor Nana Ama Sarfo discusses how lawmakers across the globe are looking to taxes to address problems with fast fashion.

The IRS announced that it would delay the new $600 Form 1099-K reporting threshold for third-party settlement organizations for 2023.

Wellness start-up Apothékary is aiming to link its plant-based medicine and supplement company to tax savings by promoting HSAs and FSAs.

What drove the nearly billion dollar AGI was net gain of $932,707,897 from Tony Townley bowing out of Zaxby’s in favor of Zach McElroy’s new partner, Goldman Sachs.

Generally, taxpayers fall within the contours of reasonable cause if they can show that they exercised ordinary business care and prudence—for example, with respect to…

The IRS has issued a reminder to those who may be entitled to the Recovery Rebate Credit to file a tax return and claim their money before the deadline.

True self-directed IRAs have potential pitfalls other IRAs don’t have.

The Senate has passed a stop-gap spending bill to keep the government funded and avert a shutdown at the end of the week.

Although a government shutdown was avoided, operating government programs under continuing resolutions leaves many children’s programs to stagnate.

These voters see the Democratic Party as out of sync with not only their cultural values but also their economic priorities.

Shakira has reached an agreement to settle a years-long legal dispute related to accusations that she had evaded taxes for the years 2012, 2013 and 2014.

Joseph J. Thorndike examines the Moore case through the lens of economist Edwin R.A. Seligman’s view that the 16th Amendment hinges on the concept of realization.

So, how can taxpayers maximize their charitable gifts? Matthew Foster, Senior Wealth Advisor for The Colony Group, offers a few tips.

As the world has grown smaller, more taxpayers similar to John have found themselves subject to these international information return reporting rules.

A Pennsylvania couple, Theodore Shearba and Jennifer Cemini, has pleaded guilty to conspiring to defraud the United States related to their efforts to evade paying employment taxes.

Everyone loves to save money on taxes. Not everyone know how to use tax loss harvesting to save money on taxes. We share how to lowere you taxes before year end.