IRS Sets §280E Tax Guidance as 2026–2027 Priority Under 26 U.S.C. §280E
The Treasury Department and Internal Revenue Service added cannabis tax guidance to their annual priorities, placing it on…
Hurun Rich List 2026: Lakshmi Niwas Mittal and Gautam Adani Lead as 50% More Wealthy Indians Emigrate
The 2026 M3M Hurun India Rich List included 156 India-linked people living overseas, up from 101 a year…
57th GST Council Meeting Takes Up Decriminalisation and Input Tax Credit Relief
The GST Council is scheduled to meet on October 8, 2026, in New Delhi. Proposed measures include removing…
Trump Administration Proposes Rules for Federal Scholarship Tax Credit Under Section 25F for Scholarship Granting Organizations
Proposed rules for the section 25F Federal Scholarship Tax Credit would let eligible donors claim up to $1,700,…
Ginhawa Act: Win Gatchalian Pushes Senate Bill No. 56 to Raise Income Tax Exemption Threshold
The GINHAWA Act, proposed in Senate Bill No. 56, would raise the income-tax exemption threshold to ₱400,000 and…
IRS and Treasury Set Guardrails on Section 351 for Etfs Under Revenue Ruling 2026-20 and Notice 2026-62
A new Treasury and IRS ruling says a planned contribution of appreciated securities to an ETF followed by…
GSTN Launches Multi-State Registration Facility with Master Temporary Reference Number on GST Common Portal
The GST Common Portal now lets Normal Taxpayers start applications for multiple States or Union Territories under one…
Treasury Secretary Scott Bessent Backs IRS Revenue Ruling on Section 351 Conversion
New Treasury and IRS guidance targets prearranged ETF transactions that shift appreciated securities into different holdings without immediately…
New IRS Notice 2026-53 Section 45Z Clean Fuel Production Credit Rewards Farms Turning Manure to Gas
Notice 2026-53 identifies dairy and swine manure as primary feedstocks for the Section 45Z Clean Fuel Production Credit.…
Bessent Settles Self-Employment Tax Dispute with IRS Before Second Circuit
Scott Bessent settled a federal dispute over whether income from his former hedge fund was subject to a…
Proposition 136 Would Cap Colorado Income Tax, Backed by Advance Colorado
Proposition 136 would cap Colorado’s individual and corporate income-tax rates at 4.4%, starting January 1, 2027, without lowering…
IRS Inspector General Report Finds Employees Unauthorized Access to Celebrities’ Tax Records, Criminal Charges Possible
An inspector general report says IRS employees improperly accessed prominent people’s tax records between 2022 and 2025. It…
IRS Issues New Section 25F Scholarship Tax Credit Rules for Scholarship Granting Organizations
The proposed and temporary rules for the Section 25F Scholarship Tax Credit outline a federal benefit beginning in…
Amendment 87 Would Create Graduated System with Higher Tax Rates for Highest Earners
The Colorado ballot measure would replace the state’s flat income-tax rate with six rates beginning in tax year…