Tax Compliance

Maryland Comptroller Press Releases April 2026

The Maryland Comptroller's Office published an index of press releases covering April, March, and February 2026. Releases span topics including Board of Public Works spending approvals ($627 million in February, $248 million in January), the launch of the expanded Earned It tax campaign, appointment of new agency leadership including Chief Deputy Comptroller Erica Roach and Chief Deputy Comptroller Andrew Schaufele's departure, a state coalition letter to President Trump regarding tariff authority, and the annual tax season launch for Maryland.

Free Webinar for New Tennessee Businesses on State Tax Obligations, April 8

The Tennessee Department of Revenue announced a free webinar on Wednesday, April 8, 2026 at 8:30 a.m. Central time designed for new business owners in Tennessee. The quarterly webinar will cover state tax obligations including tax registration, sales and use tax, business tax, franchise and excise taxes, and resources from the Department of Revenue and other state agencies. Registration is open via the department's taxpayer education page.

Tennessee F&E Tax Filing Extended to June 8, 2026

The Tennessee Department of Revenue has extended franchise and excise tax filing and payment due dates to June 8, 2026, for businesses in designated disaster areas resulting from Winter Storm Fern. The extension aligns with the IRS decision to push federal due dates to the same date for affected taxpayers. The Department will evaluate extension requests for other tax types on a case-by-case basis for taxpayers unable to file due to the storm's impact.

Free Webinar March 31: Tennessee F&E Obligated Member Entities

The Tennessee Department of Revenue will host a free webinar on March 31, 2026 at 9:00 a.m. Central time to discuss Tennessee's obligated member entity election under the franchise and excise (F&E) tax. The session will cover how pass-through entities can elect to pay F&E tax at the entity level, including implications for compliance and planning. This webinar is part of a free public education series offered by the department.

USPS Postmark Changes May Affect Tennessee Tax Filing Timeliness

The United States Postal Service announced changes to the application of postmarks that may affect whether certain Tennessee tax filings mailed to the Department of Revenue are considered timely. Taxpayers who file by mail should consult Important Notice #26-09 for details on how these USPS changes may impact filing and payment deadlines. The notice advises affected taxpayers to review the linked guidance document for compliance information.

Billy Richmond Jr. Pleads No Contest to Tax Evasion and Theft

On March 12, 2026, Shelby County General Sessions Court Judge Jennifer Mitchell accepted Billy Richmond Jr.'s no contest plea to theft of property over $60,000 and tax evasion. Richmond, owner of Wing Guru, Inc., was sentenced to eight years of probation and ordered to pay $337,609.12 in restitution for failing to remit collected sales tax from two Wing Guru restaurant locations in Memphis, Tennessee. The Tennessee Department of Revenue's Special Investigations Section conducted the investigation in cooperation with District Attorney General Steve Mulroy's office.

Indiana Gaming Tax Withholding Requirements for Riverboat Winnings, March 2026

The Indiana Department of Revenue has issued an updated Departmental Notice #16, effective March 2026, replacing the December 2025 version with new statutory withholding requirements for riverboat gaming winnings. The notice covers slot machine winnings of $2,000 or more and keno winnings of $2,000 or more, setting the withholding rate at 2.95% for 2026 and 2.90% for 2027 and later. Licensed gambling facilities must withhold tax, remit payments monthly by the 24th calendar day via electronic fund transfer, and file daily, monthly, and annual reports reconciling withholding amounts.

Indiana Gasoline Use Tax Rate $0.172/gal, April 2026

The Indiana Department of Revenue has published Departmental Notice #2 setting the gasoline use tax rate for April 2026 at $0.172 per gallon. The rate was calculated using a statewide average retail gasoline price of $2.4539 per gallon over the February 16 – March 15, 2026 period, multiplied by 7% and rounded to the nearest tenth of a cent as required by IC 6-2.5-3.5-15. This notice replaces the March 2026 rate notice and applies to all refiners, terminal operators, and qualified distributors known to the department who are required to collect the tax.

Protect Yourself from Tax Scams

Virginia Tax issued consumer guidance on March 13, 2026 warning residents about tax-related scams during filing season and year-round. The advisory describes how fraudsters impersonate tax officials via phone, text, or email to pressure victims into sharing personal information or sending payments. Virginia Tax clarifies it will first contact taxpayers by mail and will never demand payment via gift cards, prepaid debit cards, wire transfers, or threaten arrest.

Virginia Sets 8% Interest Rate for Q2 2026 Underpayments and Overpayments

Virginia adjusts its interest rates quarterly based on changes to federal rates, and for Q2 2026 (April through June) the Commonwealth will apply 8% interest to both underpayments and overpayments. This rate applies to all Virginia taxpayers with outstanding tax assessments or those due refunds during the quarter. The updated rate reflects the federal rate adjustment and is detailed in Virginia Tax Bulletin 26-2.

Child and Dependent Care Enhancement Tax Credit: $600-$2,100 Before April 15

The Shapiro Administration is encouraging eligible Pennsylvanians to claim the Child and Dependent Care Enhancement Tax Credit before the April 15, 2026 filing deadline. The credit, expanded by Governor Shapiro to 100% of the federal credit, provides $600-$2,100 per filer depending on income level and number of dependents. The credit is fully refundable, meaning qualified taxpayers receive the full amount as a refund. Filers must complete PA Schedule DC and attach Federal Form 2441 and 1040 Schedule 3 when submitting their PA-40 through myPATH.

Pennsylvania Tax Credits Up to $2,100 for Eligible Residents Before April 15th

The Shapiro Administration is encouraging Pennsylvanians to claim new and expanded state tax credits ahead of the April 15, 2026 filing deadline. Available credits include the Working Pennsylvanians Tax Credit (up to $805 for federal EITC claimants) and the Child and Dependent Care Enhancement Tax Credit ($600–$2,100 based on income and dependents). Taxpayers who earned more than $33 in total gross taxable income in 2025 must file a Pennsylvania personal income tax return by midnight on April 15.

Employer Child Care Contribution Tax Credit Program Overview

State Senator Judy Schwank published an op-ed in the Reading Eagle highlighting Pennsylvania's Employer Child Care Contribution Tax Credit Program, signed into law as part of the 2024-25 budget under Governor Josh Shapiro. The program gives Pennsylvania employers a state tax credit equal to 30% of employees' eligible child care costs, with a maximum annual contribution of $500 per employee. The annual application window opens on October 1 and closes on January 31 of the following year, with applications processed through the Department of Revenue's myPATH tax system.

Shapiro-Davis Administration Highlights $315M Rebates and $193M Tax Credits

The Shapiro-Davis Administration announced it delivered more than $450 million in tax relief to Pennsylvanians, including $315 million through the expanded Property Tax/Rent Rebate program benefiting over 513,000 homeowners and renters. The new Working Pennsylvanians Tax Credit, modeled on the federal Earned Income Tax Credit, is expected to provide $193 million in relief to nearly 1 million residents this year, with eligible filers receiving up to $805 back.

California Wealth Tax May Tax Founders' Voting Shares

The Tax Foundation published an analysis of a proposed California ballot initiative that would impose a wealth tax on billionaires, examining whether the initiative's language could require founders with super-voting shares to be taxed based on their voting control interests rather than their economic stake. The initiative establishes different valuation methods for publicly traded assets, sole proprietorships, and a catch-all category for other business entity interests, with a valuation floor for interests conferring voting or direct control rights. The analysis argues that super-voting shares do not meet the initiative's definition of publicly traded assets because they cannot be sold on an exchange and convert to ordinary shares upon sale, potentially subjecting them to the voting-interest valuation floor.

Who Pays Federal Income Taxes: Top 1% vs Bottom 50%, Tax Year 2023

The IRS released SOI tax statistics for tax year 2023 showing 153.1 million returns reporting $15.2 trillion in adjusted gross income and $2.1 trillion in individual income taxes. The top 1 percent of taxpayers (AGI $675,602+) paid a 26.3 percent average income tax rate, seven times higher than the 3.7 percent average rate paid by the bottom 50 percent (AGI under $53,801). The top 50 percent of taxpayers paid 96.7 percent of all federal individual income taxes while the bottom 50 percent paid 3.3 percent. Average tax rates across all income groups remained below pre-TCJA levels for the sixth consecutive year.

Impact of 2025 Reconciliation Law Tax Changes on Small Businesses

Garrett Watson of the Tax Foundation testified before the US House Small Business Committee on April 15, 2026, analyzing how the 2025 reconciliation law permanently extended key TCJA provisions benefiting pass-through businesses. The testimony notes that the Section 199A qualified business income deduction was made permanent with a $25,000 expanded phase-in range, and that pass-through businesses face a marginal effective tax rate of 12.6 percent and average effective rate of 20.5 percent under the new law. Watson recommended further changes to cost recovery rules, tariff policy, and loss treatment to simplify the tax code for small business owners.

Nebraska General Fund Receipts March 2026

Nebraska Department of Revenue released March 2026 General Fund receipt figures, providing updated monthly state tax collection data. The announcement presents revenue figures for the state's general fund but does not create any new regulatory obligations or compliance requirements.

Tax Policy Newsletter April 2026: Franchise Tax Threshold and Coastal Fee Suspension

The General Land Office certified that the Coastal Protection Fund has reached the maximum balance allowed, suspending the Coastal Protection Fee effective May 1, 2026. Crude oil transferred through a marine terminal on or after May 1, 2026, is not subject to this fee. For the 2026 franchise tax report, the no-tax-due threshold is updated to $2,650,000 as required under Tax Code Section 171.006, and the No Tax Due Report (Form 05-163) has been discontinued for the 2024 report year and beyond. Annual franchise tax reports and independently procured insurance premium tax reports are both due May 15, 2026.

LDR New Orleans Regional Office Relocates to OMV Building

The Louisiana Department of Revenue has relocated its New Orleans regional office from Benson Tower in the Central Business District to the state Office of Motor Vehicles building at 100 Veterans Boulevard, New Orleans, LA 70124, effective April 14, 2026. The office is open to individual and business taxpayers Monday through Friday from 8 a.m. to 4 p.m. without appointment, offering tax filing and payment services, watercraft registrations, tax clearances, payment plans, and special event registrations. No compliance obligations or deadlines are associated with this administrative relocation.

Employer Bulletin: April 2026 Payroll Tax Updates for Employers

HMRC published the April 2026 Employer Bulletin on 15 April 2026, a routine guidance document covering six key payroll topics. The bulletin addresses reporting benefits in kind (BiKs), Real Time Information submission issues, removal of tax relief for non-reimbursed homeworking expenses, the official rate of interest from 6 April 2026, the 'Tell ABAB' survey 2026, and Statutory Sick Pay changes. Employers and payroll agents should review the bulletin to stay current on their obligations.

HMRC Vaping Products Duty Stamps Guidance Manual

HMRC Vaping Products Duty Stamps Guidance Manual

Vermont Tax Scam Protection Advisory Issued

The Vermont Department of Taxes issued a consumer advisory on April 14, 2026, warning Vermonters about tax scams ahead of the April 15 personal income tax filing deadline. The advisory provides guidance on verifying official communications, including checking URLs for 'vermont.gov' and contacting the department directly at 802-828-2865 or via email to verify suspicious messages. The Department also states it will never send unsolicited text messages or robocalls.

IRS Final Rule Defines Qualified Tips for Section 224 Tax Deduction

The IRS has issued final regulations under Section 224 of the Internal Revenue Code defining 'qualified tips' for income tax deduction purposes. The regulations identify occupations that customarily and regularly received tips on or before December 31, 2024, and establish documentation requirements for the deduction. The rule affects individuals who receive tips as part of their employment in qualifying occupations.

Proposed Excise Tax on Remittance Transfers Under Section 4475

IRS proposes regulations implementing a 1% excise tax on remittance transfers under section 4475 of the Internal Revenue Code, enacted by the One, Big, Beautiful Bill Act. The tax applies to transfers where the sender provides cash, money order, cashier's check, or similar physical instrument, effective for transfers after December 31, 2025. Remittance transfer providers would collect the tax from senders and remit it quarterly to the IRS.

IRS Cancels PTIN Fee Reduction Hearing, No Testimonies Received

The IRS has cancelled a public hearing scheduled for April 24, 2026 regarding proposed amendments to reduce PTIN user fees from $11 to $10. The hearing was cancelled after no requests to testify or topic outlines were received by the April 2, 2026 deadline. The underlying proposed rulemaking (REG-108673-25) remains open for public comment via regulations.gov.

Singapore Signs MCAA for GloBE Information Exchange

On 14 April 2026, Singapore signed the Multilateral Competent Authority Agreement on the Exchange of Global Anti-Base Erosion (GloBE) Information. The MCAA enables central filing of GloBE Information Returns, allowing multinational enterprise groups to file in one jurisdiction and have the information automatically exchanged with other tax administrations under Pillar Two rules. Singapore will exchange GIR information only with international partners that have necessary safeguards to ensure confidentiality and prevent unauthorized use.

Discriminatory Cross-Border Service Taxes Threaten US Exports

The Tax Foundation published a research paper analyzing three examples of discriminatory cross-border service taxes that impose higher effective tax burdens on foreign service provision: a UN Framework Convention on International Tax Cooperation proposal for withholding taxes on cross-border services, European digital services taxes targeting gross revenues, and the US Base Erosion and Anti-Abuse Tax (BEAT). The paper argues these policies violate tax neutrality principles, create tax pyramiding and double taxation, and risk retaliation through reciprocal discrimination against US services exporters. Services represent 36 percent of all US exports, and the US, as the world's largest services exporter, has a stronger interest in combating discriminatory services taxation than in pursuing tariffs.

Advance Valuation Rulings Guide for Importers

HMRC published guidance on Advance Valuation Rulings (AVRs), which are legally binding decisions on customs valuation methods for imported goods. AVRs are valid for three years and must be applied for before import. Importers must submit complete documentation including transaction details, proposed valuation method, supporting evidence, and confirmation goods are not under legal challenge. HMRC will issue rulings within 90 days of application acceptance.

Customs Valuation Method 1 - Transaction Value Guidance

HMRC has published guidance on Customs Valuation Method 1 (Transaction Value), the primary method importers must use when valuing goods for import to the UK. The guidance explains that customs value is based on the price actually paid or payable for goods when sold for import to the UK, adjusted in accordance with the Trade Customs and Excise Management Act (TCTA) and CIDEER Regulations. The guidance covers how to establish a valid sale for export, the definitions of transaction value, and examples of acceptable documentation.

Foreign Insurance Companies Asset Percentages, Yields 2026

Rev. Proc. 2026-19 establishes the 2025 domestic asset/liability percentages at 128.2 percent for foreign life insurance companies and 202.4 percent for foreign property and liability insurance companies, with corresponding domestic investment yields of 2.1 percent and 2.2 percent respectively. The procedure, effective for taxable years beginning after December 31, 2024, provides that foreign insurance companies must use the greater of their actual effectively connected net investment income or the minimum amount computed using these new percentages and yields when calculating estimated tax and installment payments. A 20-day grace period applies for installments due fewer than 20 days after the procedure's Internal Revenue Bulletin publication, allowing use of the prior Rev. Proc. 2025-20 rates instead.

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.

Enterprise Investment Scheme and Seed Enterprise Investment Scheme May 2026 Statistics Announcement

HMRC has published an accredited official statistics announcement for the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS), confirming the release date of 21 May 2026 at 9:30am. The statistics will cover information on the number of companies and investors under these venture capital schemes, along with amounts of investments, covering periods up to 2024 to 2025. This is a forward-looking announcement confirming a scheduled statistical release rather than a regulatory change.

Hawaii Tax Review Commission Fifth Meeting Notice, April 20, 2026

The Hawaii Tax Review Commission has scheduled its fifth meeting for April 20, 2026 from 2:30-4:30 PM, to be held remotely via Zoom with a courtesy physical terminal in Honolulu. The agenda includes discussion of consultant hiring for the first competitiveness project, a presentation on tourism and transient accommodations tax topics and housing affordability, and continued discussion of additional commission priorities.

Governor Green Secures IRS Deadline Extensions for Storm-Affected Residents and Businesses

Governor Josh Green secured federal tax relief from the IRS for individuals and businesses in Hawaiʻi affected by the severe storms, flooding, and mudslides from the Kona-Low disaster beginning March 10, 2026. The relief extends filing and payment deadlines to July 8, 2026, for residents and business owners in all four counties: Hawaiʻi, Honolulu, Kauaʻi, and Maui. The IRS will automatically apply relief to affected taxpayers in the declared disaster area, covering individual income tax returns, certain business tax filings, quarterly payroll filings, and certain excise tax payments.

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.

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.

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

Tax Foundation published a critical analysis of American Compass's 'Tariff Tally' report assessing the one-year impact of Trump's Liberation Day tariffs. The analysis argues that American Compass's theoretical framework for how tariffs boost manufacturing is fundamentally flawed at each stage, from price effects through investment and job creation. Tax Foundation contends the analysis relies on selective data presentation, misapplies price concepts, and fails to engage with evidence that tariffs raised both import prices and consumer prices by approximately 0.76 percentage points.

Foreign Insurance Companies Asset Percentages and Investment Yields for 2026

Rev. Proc. 2026-19 sets the 2025 domestic asset/liability percentages and investment yields for foreign insurance companies to compute minimum effectively connected net investment income under IRC § 842(b) for taxable years beginning after December 31, 2024. Foreign life insurance companies must use a 128.2% domestic asset/liability percentage and 2.1% investment yield; foreign property and liability insurance companies must use 202.4% and 2.2%, respectively. The percentages and yields are based on 2023 tax return data and apply to estimated tax installment payments due after publication.

April 2026 Weighted Average Interest Rates, Yield Curves, and Segment Rates

IRS Notice 2026-26 publishes the April 2026 weighted average interest rates, yield curves, and segment rates for corporate bonds used in pension plan funding calculations under sections 430 and 431 of the Internal Revenue Code. The spot segment rates for March 2026 are 4.24% (first), 5.35% (second), and 6.25% (third), with 24-month average segment rates of 4.46%, 5.27%, and 5.84% respectively. Plan sponsors and actuaries must use these rates in computing minimum funding contributions for defined benefit plans and in calculating the full-funding limitation for multiemployer plans.

Submit Evidence for Child Benefit via Online Form

HMRC has published guidance for Child Benefit applicants on how to submit supporting evidence when requested to do so by the agency. Applicants must submit required evidence within 14 days of receiving the request letter; failure to do so will result in HMRC making a decision based on information already on file. HMRC will issue a determination letter within 15 working days of receiving the evidence, and may request original documents at that stage.

Countries Improve Tax Systems Through National Reforms: Key Findings from 2025 Index

The Tax Foundation's analysis of the 2025 International Tax Competitiveness Index finds that the largest overall improvers from 2016 to 2025 were Greece (+12 places, 35th to 23rd), the United States (+10), and Hungary, Canada, and Mexico (+5 each), driven by nationally determined tax reforms including lower penalties on new investment, simpler rate structures, broader consumption taxes, and cleaner cross-border rules. The report notes that multilateral efforts — including the OECD's BEPS project and its Two-Pillar Solution — produced mixed results, with the second pillar establishing a 15 percent global minimum corporate tax partly succeeding but with significant compliance costs.

Final Regulations List 70+ Occupations for Tip Deduction Under No Tax on Tips Provision

The Department of the Treasury and the IRS issued final regulations implementing the No Tax on Tips deduction under the One, Big, Beautiful Bill, listing more than 70 occupations across eight categories—from beverage and food service to transportation and delivery—where workers customarily receive tips. The regulations expand the prior proposed list by adding visual artists, floral designers, and gas pump attendants, while clarifying that qualified tips must be paid in cash or electronic equivalents, received voluntarily from customers, and reported on Form W-2, Form 1099-NEC, Form 1099-MISC, Form 1099-K, or Form 4137. The rule defines qualified tips to exclude mandatory service charges where customers have no option to modify or disregard the amount.

Treasury/IRS Proposed Regulations on 1% Remittance Transfer Tax

The Department of the Treasury and the IRS issued proposed regulations on April 10, 2026 implementing the new 1% remittance transfer tax enacted under the One, Big, Beautiful Bill, effective January 1, 2026. Remittance transfer providers must collect the tax from senders who provide cash, money orders, cashier's checks, or similar physical instruments, make semimonthly deposits, and file quarterly returns on Form 720. The first semimonthly deposits are due January 29, 2026, and public comments on the proposed regulations are due by June 12, 2026.

Set Up a Limited Company Step by Step Guide

HMRC and the UK Government have published a nine-step guide for individuals seeking to form a limited company in the United Kingdom. The guidance covers choosing between companies limited by shares and companies limited by guarantee, appointing directors and shareholders or guarantors, identifying People with Significant Control (PSC), preparing incorporation documents, selecting a company name, registering with Companies House, and completing post-registration tax obligations including Corporation Tax. The guide references Companies House as the registrar for company incorporation and provides links to additional statutory requirements.

Economic Crime Levy Insolvency Process for Insolvency Practitioners

HM Revenue & Customs published Insolvency Practitioner Bulletin 1 (2026) on 10 April 2026, introducing the new digital process for submitting Economic Crime Levy returns and deregistering entities when a business becomes insolvent. The bulletin applies to all insolvency practitioners who must use this process when dealing with the Economic Crime Levy during insolvency proceedings. This guidance supersedes any previous informal processes and establishes the official procedure for digital submission and deregistration.

Cancel Economic Crime Levy Registration After Insolvency

HMRC has published guidance for insolvency practitioners on cancelling Economic Crime Levy registration when an entity becomes insolvent. The online form can be used by trustees in bankruptcy or sequestration, liquidators, and administrators to submit final returns and deregister entities. HMRC states it will process forms within 28 working days and contact applicants if further information is required.

Economic Crime Levy Insolvency Guidance for Practitioners

HMRC published guidance for insolvency practitioners on procedures when an entity liable for the Economic Crime Levy becomes insolvent. The guidance directs practitioners to follow specific reporting procedures to HMRC and provides a link to detailed instructions on GOV.UK. This affects insolvency practitioners handling cases involving entities registered for the Economic Crime Levy.

Ready, Steady, File! HMRC Newsletter Edition 4

HMRC published the fourth and final edition of its 'Ready, Steady, File!' newsletter for participants of the 2025 Making Tax Digital for Income Tax beta testing programme on 9 April 2026. The newsletter summarises the latest news, resources, and milestones in the MTD for Income Tax testing journey. As the programme concludes, this edition serves as a closing communication rather than an announcement of new obligations.