CBIC Notification 68/2026 Updates Customs Tariff Values for Gold, Silver, Oils, and Brass Scrap
CBIC updated tariff values for key imports, including gold, silver, brass scrap, and edible oils. The August 1…
TIGTA: IRS Fell Short on Reducing Improper Payments
IRS paid $213M in improper EITC claims via nonwork SSNs, highlighting systemic verification failures and a 33% program…
Alabama, DOJ Unite to Combat Business Fraud as Michael Shine Probes Tax Schemes
Alabama and DOJ partner to fight $350 million in fraud through a new business record-sharing agreement signed July…
SC Upholds Section 44B Presumptive Tax for Foreign Cruise Operators, Covers Hospitality
India's Supreme Court upholds 7.5% presumptive tax for cruise operators, ruling onboard services like dining are part of…
Tax Relief for Fraud Victims Act, H.R. 9500, Jason Smith Aims to End IRS Taxation of Stolen Funds
The Tax Relief for Fraud Victims Act (H.R. 9500) aims to eliminate IRS penalties and restore deductions for…
Ramaswamy Promotes Zero Ohio State Income Tax and High-Paying Job Growth Through Workforce and Trades-Based Education
Vivek Ramaswamy proposes a zero Ohio income tax plan starting in 2027 to boost growth, while critics warn…
Trump-Linked Companies Deny IRS Settlement Coverage as Senate Democrats Probe, Judge Bars Deal
Senate Democrats probe Trump-linked firms over a 2026 IRS settlement's tax immunity reach after a federal judge barred…
Initiative 645: Lawsuit Challenges Ballot Language Over Misleading Fiscal Impact Statement
Lawsuits challenge the 'prejudicial' ballot language of Washington’s Initiative 645 income tax repeal, with a court ruling expected…
2026 Rental Property Tax: Schedule E, Schedule C, Passive Losses and Loss Limits Explained
Guide for 2026 rental property tax reporting, covering Schedule E versus C, passive loss limits, repair deductions, and…
IRS 2026 Rules: 501(c)(3) Exemption, Form 990 Filing and UBTI Traps Explained
Federal tax-exempt status for nonprofits in 2026 requires IRS recognition, annual 990 filings, and management of unrelated business…
Government Drafts Guidelines to Strip Permanent Residency Over Unpaid Taxes
Japan proposes revoking permanent residency for persistent tax evasion, while the U.S. maintains tax compliance as a key…
Tax Planning for U.S. Farm Owners and Investors: Navigating 2026 Filing Requirements
Learn how to separate farm operating income from asset sales for 2026 taxes, including special deadlines, livestock rules,…
Form 1041, Schedule K-1, DNI: Key U.S. Trust Tax Rules NRIS, Trustees, Beneficiaries Must Know in 2026
Learn essential trust tax rules for 2026, including Form 1041 requirements, grantor vs. non-grantor status, and reporting for…
Estate Income Tax After Death: Form 1041 Rules and Schedule K-1 Estate EIN Essentials
Learn the 2026 tax rules for estates, including Form 1041 thresholds, EIN requirements, and how to manage distributions…