Foreign Insurance Companies Asset Percentages, Yields 2026
IRS Rev. Proc. 2026-19 provides updated domestic asset/liability percentages and domestic investment yields for foreign insurance companies computing minimum effectively connected net investment income under section 842(b) of the Internal Revenue Code. For the first taxable year beginning after December 31, 2024, foreign life insurance companies use 128.2% and 2.1% yield; foreign property and liability insurance companies use 202.4% and 2.2% yield. Percentages are based on 2023 tax return data.
Enterprise Investment Scheme and Seed Enterprise Investment Scheme: May 2026 Statistics Announcement
HMRC has announced the release of accredited official statistics on the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) covering investment data up to the 2024-2025 period. The statistics will be published on 21 May 2026 at 9:30am. The data will cover the number of companies and investors under these venture capital schemes along with investment amounts.
VCT Statistics 2026: Funds Raised, Investors 2024-2025
HMRC announces release of Venture Capital Trusts Statistics for 2026, covering funds raised and investor numbers for the 2024-2025 tax year. The statistics are scheduled for publication on 21 May 2026 at 9:30am. No compliance obligations are created by this announcement.
Hawaii Tax Review Commission Meeting Notice - April 20, 2026
The Hawaii Tax Review Commission (2025-2027) has published a meeting notice for April 20, 2026 from 2:30-4:30 PM. The meeting will be held remotely via Zoom and will cover consultant hiring progress, competitiveness topics, tourism and transient accommodations taxes, and housing affordability. Public testimony will be accepted via written submission, telephone, or interactive conference technology.
Governor Green Secures IRS Deadline Extensions for Storm-Affected Residents and Businesses
The Hawaii Department of Taxation announces that Governor Josh Green secured IRS federal tax relief for individuals and businesses affected by the Kona-Low storm disaster beginning March 10, 2026. The IRS extended federal tax filing and payment deadlines to July 8, 2026, for all counties (Hawaii, Honolulu, Kauai, Maui). State income tax relief is also being provided until July 20, 2026, for eligible storm-impacted residents and businesses.
Proposed Excise Tax Regulations Under IRC Section 4475 for Remittance Transfers
The IRS proposes regulations under Internal Revenue Code section 4475 to implement a 1 percent excise tax on certain remittance transfers occurring after December 31, 2025. The proposed rules would revise 26 CFR part 40 (Excise Tax Procedural Regulations) and add provisions to 26 CFR part 49 (Facilities and Services Excise Tax Regulations), providing definitions, collection procedures, and rules for determining qualifying payment instruments.
IRS Proposed Rule on Excise Tax Remittance Transfers - Comment Deadline June 12
The IRS has published a proposed rule on excise tax remittance transfers for public comment. The comment deadline is June 12. Taxpayers affected by excise tax remittance requirements should review the proposal and submit comments by the deadline.
Definition of Qualified Tips for Income Tax Deduction Under Section 224
The IRS has issued final regulations implementing Section 224 of the Internal Revenue Code (added by the One, Big, Beautiful Bill Act of July 4, 2025) to define "qualified tips" for an income tax deduction. The rule identifies occupations that customarily and regularly received tips on or before December 31, 2024, and establishes requirements for the deduction. These regulations affect individuals who receive tips as part of their occupation and are effective June 12, 2026.
American Compass Tariff Claims Break Down Under Scrutiny
The Tax Foundation published an analysis examining American Compass's 'Tariff Tally' evaluation of economic developments since the imposition of Trump's global tariff policy. The analysis finds that American Compass's theoretical framework contains flawed and inconsistent connections between tariffs, prices, manufacturing output, capital investment, and job creation. The research contends that American Compass presents a selective and asymmetric interpretation of economic data, crediting tariffs when indicators are positive while attributing poor results to other factors or timing.