Tax Updates

Republicans rebuffed a challenge to IRS guidance, keeping taxpayer-favorable rules in place and signaling support for more IRS-led regulatory action. See what this shift could mean for future tax policy.

Tariffs, onshoring pressure, AI-driven data center demand, and geopolitical risk are pushing companies to expand in the U.S.-fast. Learn how to navigate site selection, timing, and incentive negotiations so growth plans don't leave value on the table.

Finance and tax functions rely on shared data and systems for calculations, compliance, reporting, forecasting, and modeling, with a maturity framework for tighter coordination.

This article was originally published in the Journal of State Taxation.

QOF investors face a required deferred-gain income pickup at the end of 2026 that could significantly raise tax liability. Learn planning moves now, like loss harvesting, deductions, and deferral options, to soften the hit.

Qualified small business stock planning for founders and early investors, focusing on C corporation requirements, original issuance rules, gross asset thresholds, holding periods, Section 1202 exclusion limits, Section 1045 rollover timing, and documentation.

The IRS released final Forms 8964-TRA and 8964-ELE for 2025, tied to new Section 987 rules for businesses with qualified business units using a different functional currency. See who must file and when.

New IRS Form 708 may require U.S. citizens and residents to report and pay tax on gifts or inheritances from “covered expatriates.” Learn who's affected and what to file.

A new funding deal signed Feb. 3 locks in significant IRS budget cuts through Sept. 30, 2026, following a brief shutdown, and reshapes both IRS operations and the outlook for tax legislation.

Key differences between U.S. sales and use tax and VAT or GST, covering tax base, services, rates, invoicing, reporting, and cross-border considerations.

International businesses entering or expanding into the U.S. market often underestimate the complexity of sales taxes and tariff planning and compliance. Learn how BDO can help.

Chicago's 2026 revenue ordinance introduces the nation's first social media amusement tax on certain data-collecting platforms and increases the personal property lease transaction tax rate, both effective Jan. 1.

Texas proposed updates to TAC §3.587 would align the margin tax “total revenue” rule with recent law and shift views on fixed-date IRC conformity, favoring federal return line amounts even if 2007 IRC differs.

The Fifth Circuit rejected the Tax Court's “passive investor” view of the SECA exemption for limited partners, adding momentum as similar “limited partner” cases remain pending in the First and Second Circuits.

Congress is weighing new digital asset tax and regulatory reforms, with the draft PARITY Act gaining traction alongside the CLARITY Act. The proposals are still drafts and not yet effective.

Congress is nearing a Jan. 30 funding deadline as the IRS faces major cuts-$1.1B less for FY 2026 plus a proposed $11.6B rescission of remaining IRA enforcement funds.

PLR 202601012 clarifies that recapitalizing a subsidiary and then converting the parent to a partnership can qualify as a downstream C reorganization under Section 368(a)(1)(C).

The IRS extended transition relief for state-paid medical leave benefits in 2026, delaying tax reporting and withholding for employer-funded portions-family leave is excluded.

USPS's new rule clarifies what qualifies as a postmark, how they're applied, and how customers can get mailing evidence-improving understanding without changing practices.

Cayman Islands' updated CRS regulations change registration, reporting, and due diligence