


Two States Enact New SALT Cap Workarounds, Six Extend Programs
The US map of pass-through entity tax regimes has changed a lot over the last year, with two states launching programs for the first time and six others extending their statutory sunset dates.

EV Fee to Subsidize Highway Trust Fund Draws Ire From Lawmakers
A bipartisan push for a new electric vehicle fee to support the Highway Trust Fund faces blowback from the political left and right.
PODCASTS
Corporate Tax Disclosures Let Investors Peer Into the Black Box
Accounting Firms Navigate Compensation as AI Tools Upend Work
IRS Pivots to Fill Holes in Tax Filing Season After DOGE Cuts
How Tax Administration Reforms Could Pass Congress This Year
Columns + Commentary
Danny Werfel By All AccountsPentagon Anthropic Deadlock Demands Thorough Checks on AI Use
Andrew Leahey Technically SpeakingGeorgia Gas Tax Holiday Is Affordability Theater That Delays Harm
Andrew Leahey Technically SpeakingMamdani’s NY Estate Tax Exemption Should Target Dynastic Wealth
Danny Werfel By All AccountsTrump’s IRS Lawsuit Offers Lessons on Privacy and Legal Process
Practitioner Insights
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Bloomberg Tax Journals
View MoreSouth Africa and Nigeria Drive AI-Enabled Transfer Pricing Audits
Robust taxpayer protection policies, transparent AI governance, strong data integrity practices, and meaningful human oversight are essential to ensuring that digital transformation enhances rather than undermines fairness, KPMG practitioners, Christian Wiesener, Barbara Mbaebie, and Akaoma Osele, say.
Pension Exit Costs Are a Moving Target After Supreme Court Ruling
After the Supreme Court’s ERISA ruling in M & K Employee Solutions, the withdrawal-liability figure an employer receives before leaving a multiemployer pension plan may not be the number that controls after withdrawal, says Hall Benefits’ Samuel Krause.
Reported FIFA 2026 World Cup Tax Deal Hasn’t Changed Fundamentals
KPMG’s Daida Hadzic and Rob Fagan say FIFA’s reported US federal tax deal may ease team-level tax exposure for the 2026 World Cup, but it doesn’t change the core tax, withholding, classification, and social security issues affecting players, coaches, and staff.
Tax Developments
View MoreU.S. District Court Vacates IRS Notice Eliminating Five Percent Safe Harbor for Certain Clean Energy Projects
The U.S. District Court for the District of Columbia held that IRS Notice 2025-42, which eliminated the Five Percent Safe Harbor method for establishing “beginning of construction” for wind and ...
IRS Issues News Release on Restructuring Security Summit Partnership for Identity Theft Prevention
The IRS issued a news release announcing a restructuring of its public-private partnership with Security Summit partners to strengthen protections and enhance information sharing across the tax system to combat ...
IRS Issues News Release Announcing State Participation in Federal Scholarship Tax Credit Program
The IRS issued a news release announcing that 27 states have elected to participate in the Federal Scholarship Tax Credit (FSTC) program enacted under the One, Big, Beautiful Bill. The ...
AI's Billion Dollar Tax Breaks: Data Center Incentives Fuel Backlash
States have been competing to attract AI data centers, offering tax breaks to companies like Meta, Amazon, and Google. Now Georgia is at the center of a growing debate over whether those incentives are still worth the cost.
Latest Stories
GOP Group Convenes Budget Experts on Third Reconciliation Bill
The House Republican Study Committee met with nonpartisan congressional offices and Republican-aligned think tanks about deficit reduction options they could tackle in their next party-line bill, according to two people familiar with the meeting.
Treasury Asked to Clarify Fast-Growing ETF Tax-Busting Strategy
The Investment Company Institute has asked the US Treasury Department for guidance on a fast-growing ETF strategy that allows investors to sidestep immediate capital-gains taxes, as uncertainty grows over how regulators view the practice.
McKesson Tax Bill is Justified Even With Loper Bright, DOJ Says
The IRS has the authority to impose a rule that led to a $9.6 million tax bill against
OECD Transfer Pricing Update Stirs Concern About Data Demands
The OECD’s proposed changes to its transfer pricing guidelines might prompt governments to push further into companies’ business activities, tax professionals say.
FROM ACROSS BLOOMBERG TAX
- Daily Tax Report International
- Daily Tax Report State
- Transfer Pricing Report
- The Exchange: Tax Insights & Commentary
Italy Tax Agency Clarifies Gift Tax Exemption on Bare Ownership Transfers of Partnership Interests
The Italian Revenue Agency June 4 issued Letter No. 116/2026, clarifying the gift tax exemption on bare ownership transfers of partnership interests within a family business succession. The taxpayer, an ...
Turkey Tax Agency Seeks Comments on Proposed Amendments to Corporate Tax General Communique
The Turkish Revenue Administration June 4 opened a consultation on Draft Corporate Tax General Communique No. 26, regarding amendments to Corporate Tax General Communique No. 1. The draft communique includes ...
Guatemala Gazettes Decree to Amend Tax Regime for Employment Income
The Guatemalan Gazette May 15 published Decree No. 13-2026, as passed by Parliament April 28 to amend the employment income tax regime. The decree includes measures to: 1) provide a ...
Italy Tax Agency Clarifies First-Home Tax Credit Limits, Relief on Replacement Home Purchases
The Italian Revenue Agency June 4 issued Letter No. 117/2026, clarifying the 2 percent reduced registration tax and tax credit for first homes. The taxpayers, individuals, purchased a home in ...
Turkey Tax Agency Seeks Comments on Proposed Amendments to Income Tax General Communique
The Turkish Revenue Administration June 4 opened a consultation on Draft Income Tax General Communique No. 335, regarding amendments to Income Tax General Communique No. 326. The draft communique includes ...
Denmark Tax Agency Clarifies Tax Succession
The Danish Customs and Tax Administration June 4 posted Tax Council Binding Answer No. SKM2026.269.SR, clarifying tax succession. The taxpayer, an individual, personally owned a company that became a holding ...
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