Tax Compliance

HMRC Guidance: Pillar 2 Top-up Taxes Software

HM Revenue & Customs has published guidance on choosing commercial software for reporting Domestic Top-up Tax and Multinational Top-up Tax under Pillar 2. The guidance outlines the requirements for software and lists providers currently developing compatible products.

Voluntary National Insurance Contributions Abroad Changes

HM Revenue & Customs has updated guidance on voluntary National Insurance contributions for periods abroad. Effective April 6, 2026, voluntary Class 2 NICs for periods outside the UK will be abolished, and requirements for Class 3 NICs will change.

HMRC Stronger Action Against Tax Advisers

HMRC will implement stronger actions against tax advisers engaging in sanctionable conduct from April 1, 2026. This guidance outlines the definition of sanctionable conduct, the process for investigation, and the penalties that can be imposed, including financial penalties based on potential lost revenue and public disclosure of details for significant penalties.

Proposed Rule on Tax-Exempt Refunding Bonds Guidance

The IRS has issued proposed regulations to update arbitrage rules for tax-exempt and tax-advantaged bonds. The proposal clarifies refunding overpayments, transferred proceeds, allocation limitations, defeasance notices, guarantee funds, and definitions of tax-exempt bonds and refunding issues. The proposed regulations affect issuers of tax-advantaged bonds.

Proposed IRS Rule on Trump Accounts

The IRS has issued proposed regulations concerning the establishment and administration of 'Trump accounts,' a new type of individual retirement account authorized by recent legislation. The proposed rules provide guidance on making elections to open these accounts and reserve further sections for additional guidance. The comment deadline for these proposed regulations is May 8, 2026.

IRS Proposed Rule: Digital Asset Broker Electronic Statements

The IRS has issued a notice of proposed rulemaking concerning digital asset brokers. The proposal offers an alternative method for brokers to obtain customer consent for electronic delivery of tax statements related to digital asset transactions, without requiring a paper alternative.

IRS proposes removing partnership basis adjustment regulations

The IRS has proposed removing regulations that identified certain partnership related-party basis adjustment transactions as transactions of interest. This proposed rule would affect participants in these transactions and their material advisors. Comments are due by April 6, 2026.

IRS Proposes Trump Accounts Contribution Pilot Program

The IRS has issued a Notice of Proposed Rulemaking concerning a new Trump accounts contribution pilot program. The program would allow eligible children born between 2025 and 2028 to receive a one-time $1,000 contribution to their Trump account. The proposed regulations provide guidance on making the election for this contribution.

FTB Partners with IRS for Free Tax Filing

The California Franchise Tax Board (FTB) is partnering with the IRS to offer free tax filing services through CalFile and IRS Direct File. A new feature allowing data import from Direct File to CalFile is expected in January 2026, aiming to simplify tax filing for Californians.

California Tax Filing Deadline Reminder

The California Franchise Tax Board (FTB) is reminding taxpayers that October 15, 2025, is the deadline to file 2024 state personal income tax returns to avoid penalties. The notice also highlights available free filing services and warns about potential tax scams.

California Tax Relief for San Diego Flood Victims

The California Franchise Tax Board announced tax relief for San Diego County residents affected by recent flooding. Affected individuals and businesses have until June 17, 2024, to file tax returns and pay taxes due between January 21 and June 17, 2024.

California Tax Deadline October 15 for 2023 Returns

The California Franchise Tax Board (FTB) is reminding taxpayers that October 15, 2024, is the deadline to file 2023 state personal income tax returns to avoid late filing penalties. Taxpayers are encouraged to file electronically and can claim various cash-back credits if eligible.

California Taxpayer Information for 2024 Filing Season

The California Franchise Tax Board has released information for the 2024 tax filing season, highlighting tax credits, disaster loss relief, and electronic filing benefits. Taxpayers are reminded of the April 15 deadline and encouraged to use online services for faster refunds and information.

IRS Grants Substitute Mortality Tables for Pension Plans

The IRS has granted a request from a taxpayer to use substitute mortality tables for pension plans (Group B) for computations under section 430 of the Internal Revenue Code. This ruling is effective for up to 5 plan years beginning with the 2026 plan year.

IRS Approves Scholarship Procedures Under IRC Section 4945(g)(1)

The IRS has approved the scholarship procedures of a private foundation under IRC Section 4945(g)(1). This approval ensures that grants made under these procedures will not be considered taxable expenditures for the foundation and may not be taxable to recipients if used for qualified expenses.

IRS Ruling on Substitute Mortality Tables for Pension Plans

The IRS has granted a ruling allowing certain aggregated non-union pension plans (Group A) to use substitute mortality tables for computations under section 430 of the Internal Revenue Code. This approval is effective for up to 5 plan years beginning with the 2026 plan year.

IRS Written Determination 202611008 - Qualified Opportunity Fund Certification Extension

The IRS has released Written Determination 202611008, granting a taxpayer an extension of time to self-certify as a Qualified Opportunity Fund (QOF) by filing Form 8996. This determination provides guidance on relief for late elections under sections 301.9100-1 and 301.9100-3.

IRS Private Letter Ruling on Portability Election Extension

The IRS has issued Private Letter Ruling 202611006, granting an extension of time for a decedent's estate to make a portability election. This ruling allows the surviving spouse to utilize the deceased spouse's unused exclusion amount.

IRS Written Determination: Extension of Time for Entity Classification Election

The IRS released Written Determination 202611007, granting a foreign company an extension of time to file an election to be classified as a disregarded entity for federal tax purposes. This determination provides relief under § 301.9100-3 for a late filing of Form 8832.

IRS Determination on FPA Issuance and NAP Mailing Rules

The IRS has issued a determination regarding the issuance of FPA (presumably related to tax forms or filings) and rules for NAP (likely a mailing process). This guidance clarifies specific procedural requirements for taxpayers and the agency.

IRS Denies Tax Exemption Under IRC Section 501(c)(3)

The IRS has issued a final determination denying tax-exempt status to an organization under IRC Section 501(c)(3). This denial means donors generally cannot deduct contributions, and the organization must file federal income tax forms within 30 days.

IRS Final Adverse Determination for 501(c)(6) Tax Exemption

The IRS has issued a final adverse determination revoking tax-exempt status for a 501(c)(6) organization. The organization failed to protest a proposed adverse determination within the 30-day window, making the revocation final. The organization must now file federal income tax forms within 30 days.

IRS Approves Educational Grant Procedures for Private Foundations

The IRS has approved the educational grant procedures for a private foundation under IRC Section 4945(g)(3). This approval ensures that grants awarded under these procedures will not be considered taxable expenditures for the foundation.

IRS Denies Tax-Exempt Status Under IRC 501(c)(3)

The IRS has issued a final determination denying tax-exempt status to an organization under IRC Section 501(c)(3). The organization failed to file a protest within 30 days of a proposed adverse determination. As a result, donors cannot deduct contributions, and the organization must file federal income tax forms.

IRS Final Adverse Determination for 501(c)(19) Exemption

The IRS has issued a final adverse determination revoking tax-exempt status for an organization under IRC Section 501(c)(19). The organization failed to file a protest within 30 days of a proposed adverse determination.

IRS Denies Tax Exemption for IRC 501(c)(3) Organization

The IRS has issued a final determination denying tax-exempt status to an organization under IRC Section 501(c)(3). The organization failed to file a protest within 30 days of a proposed adverse determination, making the denial final. Consequently, contributions to the organization are generally not tax-deductible.

IRS Approves Tax-Exempt Status for Supporting Organization

The IRS has approved a tax-exempt status for a supporting organization under IRC Section 501(c)(3) and as a non-functionally integrated Type III supporting organization under IRC Section 509(a)(3). The approval is for a set-aside request to fund the construction of a firefighting training facility.

IRS Denies Federal Tax Exemption Under IRC 501(c)(3)

The IRS has issued a final determination denying a federal tax exemption under IRC Section 501(c)(3) to an organization. The organization failed to protest a proposed adverse determination within the required 30 days. As a result, donors generally cannot deduct contributions to this organization.

IRS Internal Revenue Bulletin 2026-12

The IRS published Internal Revenue Bulletin 2026-12, including Notice 2026-17 and Rev. Proc. 2026-11. Notice 2026-17 announces forthcoming proposed regulations on section 987 foreign currency gain or loss, and Rev. Proc. 2026-11 provides specifications for substitute employment tax forms.

Trump Tariffs Impact on US Households and Trade

A Tax Foundation analysis estimates that new tariffs imposed under Section 122 will increase taxes per US household by $600 in 2026. This follows a Supreme Court ruling that limited the scope of previous tariffs imposed under IEEPA, reducing the average applied tariff rate.

UK Offices for Community and Common Transit Procedures

HM Revenue & Customs has updated the list of UK offices for Community and Common Transit procedures. The latest update on March 13, 2026, includes new data fields, removes non-live ports, and provides updated contact details for traders and customs officers.

HMRC Guidance on Genuine Contact Methods to Avoid Scams

HM Revenue & Customs (HMRC) has updated guidance on genuine contact methods to help individuals and businesses identify scams. The update clarifies that HMRC may use multiple communication channels, such as letters followed by emails or calls, and lists specific research contacts from IFF Research and Ipsos.

HMRC List of Recognised Payroll Software

HM Revenue & Customs (HMRC) has published a list of payroll software recognised for PAYE reporting. The guidance includes both free and paid-for options, with specific recommendations for businesses with fewer than 10 employees.

Construction Industry Scheme Administration Improvements

HM Revenue & Customs is simplifying the Construction Industry Scheme (CIS) administration, effective April 6, 2026. Key changes include exempting payments to local authorities and requiring nil returns when no subcontractors are paid.

UK VAT Number Service Availability and Issues Update

HM Revenue & Customs has updated guidance on the availability of the Check a UK VAT number online service. The latest update from March 13, 2026, confirms potential service disruptions for new VAT registrations between March 16-20, 2026.

Tax Foundation Experts Analyze AI Taxation Impact on Labor Markets

The Tax Foundation released a podcast episode discussing the potential impacts of taxing artificial intelligence on labor markets. Experts analyze current data, critique proposed policies, and suggest alternative reforms like worker retraining deductions.

Colorado Tax Proposal on Phantom Income

Colorado's HB26-1221 proposes changes to the state's alternative minimum tax and net operating loss provisions. The Tax Foundation argues these changes would overstate income, leading to double taxation and distorting taxpayer behavior.

Delaware Proposes Cigarette and Vapor Tax Increases

Delaware's Governor has proposed significant increases to cigarette, vapor, and other tobacco product taxes. The cigarette tax would rise by over 70%, and vapor product taxes would double, aiming to generate an estimated $18.9 million in new state revenue.

New Mexico SB 151 Decouples from Full Expensing

New Mexico SB 151, passed by the legislature, decouples the state from federal full expensing provisions for machinery and equipment, and includes foreign earnings in the corporate tax base. This change is expected to negatively impact the state's corporate tax environment.

Europe Capital Gains Tax Rates 2026

This analysis details the top marginal capital gains tax rates for individuals across European countries in 2026. It highlights Denmark as having the highest rate at 42.0% and Romania (not explicitly listed but implied by context) as having the lowest. The data provides a comparative overview for investors and financial professionals.

Proposed Regulations for Trump Accounts and Form 4547

The Department of the Treasury and IRS have issued proposed regulations for opening Trump Accounts, a pro-family initiative from the One, Big, Beautiful Bill. The regulations outline requirements for eligible individuals and the responsible parties, with a deadline for opening initial accounts by December 31st of the year the eligible individual turns 17.

IRS Tax Withholding Estimator Updated for Tax Law Changes

The IRS has updated its Tax Withholding Estimator to reflect changes from the 'One, Big, Beautiful Bill,' including new provisions on tips, overtime, and deductions. Taxpayers can use the updated tool to adjust their federal income tax withholding.

Proposed Rules for Electronic 1099-DA Statements for Digital Asset Brokers

The Treasury and IRS have issued proposed regulations to ease electronic furnishing of Form 1099-DA statements for digital asset brokers. These rules offer an optional process for obtaining customer consent for electronic statements, reducing burdens associated with paper delivery. The proposed changes are effective for statements required on or after January 1, 2027.

IRS Schedule 1-A for Tax Year 2025 Deductions

The IRS has published new Schedule 1-A and instructions for tax year 2025, detailing how taxpayers can claim new deductions for tips, overtime, car loans, and an enhanced deduction for seniors. These changes are part of the 'One, Big, Beautiful Bill' and aim to provide significant tax benefits to eligible individuals.

Treasury, IRS Issue Proposed Regulations for Trump Accounts Pilot Program

The Treasury Department and IRS have issued proposed regulations for the Trump Accounts contribution pilot program, established under the Working Families Tax Cuts. These regulations provide guidance on how the Treasury will deposit a one-time $1,000 contribution into eligible children's accounts.

Florida Tax Information Publications Archive - 1998

The Florida Department of Revenue has archived its Tax Information Publications (TIPs) for 1998. These documents provide historical guidance on specific tax issues, some of which may no longer be applicable. Taxpayers are advised to review TIPs to determine current relevance.

Florida Tax Information Publications for 2025

The Florida Department of Revenue has published its 2025 Tax Information Publications (TIPs), detailing updates on various tax matters including interest rates, fuel tax adjustments, and corporate income tax. These publications provide specific guidance on tax issues that may affect taxpayers.

Illinois Income Tax Changes and Scam Alert

The Illinois Department of Revenue (IDOR) issued a bulletin (FY 2026-15) detailing changes to 2025 Illinois Income Tax forms and schedules for individuals and businesses, and 2026 withholding tax forms. The bulletin also includes a scam alert regarding fraudulent communications impersonating IDOR.

Illinois Service Occupation Tax Changes for Servicepersons and Marketplace Facilitators

The Illinois Department of Revenue has issued guidance detailing changes to the Service Occupation Tax effective January 1, 2026. The bulletin clarifies that the 200-transaction threshold will be removed for out-of-state servicepersons and marketplace facilitators, and introduces destination-based sourcing for certain sales of service. These changes are outlined in Public Act 104-0006.

Illinois Film Production Withholding Tax Changes

The Illinois Department of Revenue has issued guidance clarifying changes to film production withholding income tax requirements. Beginning December 12, 2025, both production companies and loan-out companies have specific responsibilities for withholding, reporting, and remitting Illinois income tax on compensation for services performed in the state.