Bipartisan push for semiconductor credit extension, expansion
Senate Finance Committee leadership called for an extension of the Advanced Manufacturing Investment Credit, which is available to semiconductor manufacturing …
Multistate Monitor — Missouri rejects income tax phase-out, bucking state trend
Missouri voters rejected a ballot measure on August 4 that would have phased out the state’s individual income tax and …
Student-athletes unprepared for NIL tax bills, expert warns
College and high school athletes earning money from their name, image, and likeness are increasingly treated as self-employed business owners, …
AI-powered IRS audits are here but taxpayers have new relief options, tax pros say
Tax specialists from PricewaterhouseCoopers (PwC) detailed the IRS’ growing reliance on data analytics and artificial intelligence for enforcement, a renewed …
Proactive AI governance needed for international tax challenges, experts say
Grant Thornton tax specialists said during a July 30 webcast that companies deploying artificial intelligence (AI) should assess how the …
IRS proposes rules on foreign tax allocation, credit disallowance
The IRS has issued proposed regulations relating to the allocation of foreign taxes for corporations affected by the repeal of …
Multistate Monitor — States diverge on data center tax incentives
While a growing number of states have begun pausing or rolling back tax incentives for data centers this year, Kentucky …
Senate panel advances broad tax administration reform package
On July 30, the Senate Finance Committee overwhelmingly approved the bipartisan Taxpayer Assistance and Service (TAS) Act, S. 3931, with a 26-1 vote, …
Experts flag uneven real estate market trends, Opportunity Zone transition issues
Real estate and tax specialists from PricewaterhouseCoopers (PwC) discussed shifting market conditions, Opportunity Zone transition rules, and possible federal tax …
ABA urges Tax Court to clarify, revise proposed practice rules
After the Tax Court announced proposed procedural changes in May, the American Bar Association Section of Taxation has offered several …