Taxes August 5, 2026
Protecting Non-Resident Clients From the $25,000 IRS Form 5472 Trap
Proactively navigating these rules protects your clients from staggering penalties while establishing your firm as an essential cross-border advisor.
Taxes August 5, 2026
Missouri Voters Reject Plan to Phase Out State’s Income Tax
A proposed constitutional amendment to replace Missouri’s individual income tax with expanded sales and use taxes, a top priority of Republican Gov. Mike Kehoe, was soundly defeated by voters on Tuesday.
Taxes August 4, 2026
IRS Warns of 5 Types of Tax Data Phishing Scams
Common Threats: Scammers use phishing, targeted spear phishing, cloned emails, high-level whaling, and fake new-client emails to deliver malware and steal credentials.
Taxes August 4, 2026
Form 990: Classifying a School That Hasn’t Opened Yet: Obtaining IRS Approval and What Happens If the IRS Disagrees
An organization with concrete plans can obtain a favorable determination while it is still pre-operational.
Taxes August 4, 2026
Tax Court Ruling: When You Can’t Take the IRS at Its Word
The court ruled that the taxpayers failed to prove an IRS error or delay and that verbal advice from an IRS representative is not legally binding.
Taxes August 4, 2026
Mamdani: No Regrets About NYC Pied-à-Terre Tax Rollout Amid Pushback
The tax targets secondary homes of non-resident New Yorkers worth more than $5 million. The city sent letters to 17,000 homeowners indicating they might be subject to the tax.
Taxes August 4, 2026
Florida Judge Rules Property Tax Amendment Misleading, Orders Rewrite
The judge ordered the attorney general to rewrite parts of the property tax proposal put out by Gov. Ron DeSantis’ office.
Taxes August 3, 2026
About 2,000 People File for Exemptions to NYC Pied-à-Terre Tax Amid Controversial Rollout
Around 2,000 people have filed for an exemption to the New York City pied-à-terre tax—and 4,800 more have at least started the process amid the new levy’s controversial rollout, City Hall said Monday.
IRS August 3, 2026
Blanche Rescinds $1.8B Weaponization Fund; Attorney General Vote to Move Forward
Two GOP holdouts—Sens. John Cornyn, R-Texas, and Thom Tillis, R-N.C.—say they'll vote to confirm acting attorney general Todd Blanche after delay.
Taxes August 3, 2026
Bloomberg Tax Introduces the Next Generation of Bloomberg Tax Provision
Expanded global tax provision capabilities, including support for multinational reporting, non-U.S. statutory tax rates, and multi-currency reporting
Taxes August 3, 2026
Amazon to Pass on Some of Its $600 Million Tariff Refunds to Customers
The Seattle-based e-commerce giant disclosed the refund in its earnings call with analysts on Thursday, when Amazon announced it beat Wall Street’s expectations with a 20% revenue increase from last year.
Taxes August 3, 2026
Trump Appeals Ruling Against His IRS Audit Immunity Deal
President Donald Trump is appealing a court order barring him from attempting to use a sweeping audit-immunity settlement that resolved his $10 billion lawsuit against the Internal Revenue Service.