Budget 2027 Takes Shape with €10 Increase and Higher Income Tax Threshold
Budget 2027 negotiators have agreed to raise weekly pensions and core welfare payments by €10. A proposed increase…
CBDT Extends Income Tax Audit Report Deadline to October 21, ITR Filing to November 21
For Assessment Year 2026-27, the CBDT extended the audit report and ITR deadlines by 21 days for a…
IRS Weighs AI Triage for Identity Theft Backlog Nearing 257,000 Cases
The IRS is considering AI to assess and route tax identity theft cases, but no system has been…
100% Bonus Depreciation Saves Data-Center Spenders Billions of Dollars
Full bonus depreciation lets technology companies deduct eligible data-center equipment costs sooner, reducing near-term taxable income. Estimates of...
Clinton Roosevelt Dale of Blue Bear Tax Solutions Charged with Filing Fake Returns for Cocaine Dealers
Prosecutors accuse former IRS employee Clinton Roosevelt Dale of using his Denver tax business to disguise drug proceeds…
Wyden Proposes Saver’s Match Boost Under SECURE 2.0 with New Income Thresholds
Ron Wyden’s proposed legislation would raise the Saver’s Match amount and income thresholds before the program’s first eligible…
GAO Pegs Annual U.S. Tax Fraud Losses at $116B to $304B for Tax Year 2022
The G-A-O estimates that tax fraud cost the federal government $116 billion to $304 billion for tax year…
John Healey Warned by Institute of Economic Affairs That Capital Gains Tax Raid Could Blow £6.2 Billion Hole
The Institute of Economic Affairs estimates that proposed Capital Gains Tax increases could leave public finances £6.2 billion…
IRS Watchdog: Systems Not Effective to Identify, Protect, and Detect 3 Critical Vulnerabilities
TIGTA rated the IRS cybersecurity program not effective for fiscal year 2026, citing weaknesses in risk identification, protection,…
IRS Probes $100 Billion in Potential COVID-19 PPP Loan Fraud
The IRS opened examinations into discrepancies involving about $100 billion in pandemic loans, comparing SBA borrower records with…
Supreme Court Denies Section 10(5) LTC Tax Exemption for Foreign Travel
India’s Supreme Court held that leave-travel payments for journeys with a foreign leg do not qualify for the…
Business Owners Warn Against Capital Gains Tax Hike in Budget
An S&W survey suggests higher capital gains tax could affect UK business decisions: half of five hundred owners…
Iowa Employers See Lowest Possible UI Tax Rates Under Tax Table D as Trust Fund Hits 5th Year
Governor Kim Reynolds announced September 2, 2026, that Iowa employers will use Tax Table D for 2027, extending…
Rep. Laura Friedman Bill Offers 20% Federal Film and Television Tax Credit
A bipartisan bill introduced by Rep. Laura Friedman would create a 20% federal tax credit for qualifying U.S.…