Congress Approves $11.2B IRS Budget in Continuing Resolution to Dec. 11, 2026
Congress approved a temporary funding bill that preserves the IRS’s $11.2 billion budget through December 11, 2026, and…
IRS Proposes Section 1.501(c)(3)-2 to Tighten Racial Nondiscrimination Rules for Private Schools
Treasury and the IRS proposed a rule that could strip tax-exempt status from private schools using race-based policies.…
Form 1 for Undisclosed Foreign Assets Now Live: CBDT Opens FAST-DS 2026
FAST-DS 2026 is now live on the Income Tax Department’s portal through Form 1. Taxpayers can disclose undisclosed…
Colorado Voters Face Dueling Tax Questions as Bell Policy Center Weighs in on Initiatives 232 and 195
Colorado’s November 3, 2026 ballot will pit a 4.4% tax cap against a six-bracket graduated income-tax plan. If…
NRIs Inject $65.4B Into RBI’s FCNR(B) Scheme, Boosting Forex Reserves to Record $729B
NRIs deposited $65.397 billion in FCNR(B) accounts by August 21, 2026, helping India’s reserves reach a record $729.328…
German Cabinet Approves €10B Income-Tax Reform, Boosts Child Benefit, Says Minister Klingbeil
Germany approved a €10 billion income-tax reform that boosts child benefit and tax-free allowances while raising taxes on…
Income Tax Portal Now Lets Taxpayers Report Official Corruption and Harassment
The Income Tax portal has introduced a complaint route for corruption and harassment allegations against tax officials. Registered…
Capital Gains Advance Tax: Can You Wait Till March 31 Under New Act Without Interest?
India’s Income-tax Act, 2025 keeps advance tax rules in place but raises a key question: can capital gains…
IRS Audit Revenue Drops 35 Percent to $6.5bn Amid Staffing Cuts: TIGTA Report
IRS audit collections dropped sharply in fiscal 2025 to $6.5 billion, partly after audit staffing fell by about…
7.8 Crore Income Tax Returns Filed for AY 2026-27 by August 31 Deadline
Income Tax India reported a record 7.8 crore Income Tax Returns for Assessment Year 2026-27 by August 31,…
China Ends Dividend Tax Exemption for Foreign Individuals; 20% Rate Applies
China ended its dividend tax exemption for foreign individuals on September 1, 2026. Dividends and bonuses from foreign-invested…
ACT Party Proposes Waiving Capital Gains Tax in Bright-Line Rule for Crypto
ACT wants qualifying personal crypto gains to become tax-free after 12 months, but short-term trading and business activity…
Sweden Considers Wealth Tax Proposals, Prompting Rich to Weigh Leaving
Wealthy Swedes are reacting to revived election talk of higher taxes on large fortunes. The proposals are not…
Treasury, IRS Tax Scrutiny Targets Soros Foundation, SPLC, and CAIR
Treasury and IRS officials are weighing scrutiny of Open Society Foundations, the Southern Poverty Law Center, and CAIR.…