4+ day, 2+ hour ago   (93+ words) news.bloombergtax.com New York City’s tax on luxury second homes is giving city lawmakers new leverage to pursue an overhaul of its property tax system that elected officials acknowledge is outdated, but are loath to take up. The city…...

4+ day, 59+ min ago   (488+ words) New York City’s pied-à-terre tax seemed straightforward: Impose a tax on high-value second homes that were neither the owner’s primary residence nor occupied by bona fide tenants. In practice, however, it’s colliding with the complex ways wealthy New Yorkers own,…...

4+ day, 1+ hour ago   (104+ words) news.bloombergtax.com Democrats want to make the country’s housing shortage a priority if they flip the House in November, but they’re in disagreement over how to address it. Housing costs have been at the center of Democrats’ election strategy…...

1+ week, 1+ day ago   (110+ words) news.bloombergtax.com The IRS Friday announced modified accounting method change procedures for research and experimental expenditures. IRS said in Revenue Procedure 2026-32 that the changes were made under Sections 174 and 174A, as well as for certain construction contracts under Section 460, following…...

1+ week, 3+ day ago   (336+ words) Yet last month, I was speaking with an IRS representative who mentioned, almost casually, that all Service Center personnel have access to an online document upload tool. This tool processes submissions instantaneously, saving significant time for both the Service Center…...

1+ week, 4+ day ago   (497+ words) At President Donald Trump’s IRS, businesses in the last year are paying tens of billions of dollars less in taxes, while Americans are shelling out hundreds of billion dollars more. Businesses — both large corporate taxpayers and partnerships — have historically been…...

1+ week, 5+ day ago   (907+ words) For businesses considering international expansion, tax rates traditionally have been an important part of deciding where to invest. But the headline rate tells only part of the story. Increasingly, businesses need to know not simply how much tax they will…...

2+ week, 4+ day ago   (108+ words) news.bloombergtax.com Almost a year into his tenure leading IRS enforcement, Jarod Koopman is using his shrunken workforce to shepherd new civil strategies and refocus the criminal branch. The IRS compliance strategy hadn’t been updated since 2017 and didn’t have…...

2+ week, 5+ day ago   (824+ words) The prospect of a new tax on UK banks is back on the political agenda. Campaigners are calling for a “windfall” tax following strong reported profits from the UK’s largest banks, while industry representatives have warned that additional taxation could…...

2+ week, 4+ day ago   (225+ words) New York City property owners have more time to seek a break from the new pied-à-terre tax after the Finance Department further extended the deadline for exemption applications. Property owners who received letters indicating they may be subject to the…...