US: National Taxpayer Advocate issues 2026 mid-year report to Congress
The US Internal Revenue Service (IRS) announced that the National Taxpayer Advocate Erin M. Collins has released her Fiscal Year 2027 Objectives Report to Congress on 24 June 2026, highlighting a largely successful 2026 filing season in which the
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US: Illinois introduces digital advertising tax, social media fee, digital asset levy from 2027
Illinois has enacted new taxes on digital activities under SB 3019, effective from 1 January 2027. The measures include a 10% tax on gross receipts from targeted advertising services provided in Illinois, applicable to providers earning more than
See MoreUS: IRS cuts corporate tax interest rates for Q2 2026
The US Internal Revenue Service (IRS) has confirmed that interest rates for the second quarter dropped beginning 1 April 2026. According to the Revenue Ruling 2026-5, the IRS has set out revised interest rates that will apply for the April–June
See MoreUS announces initiation of Section 301 investigation of Germany’s underpayment for pharmaceuticals
The US Trade Representative Jamieson Greer initiated an investigation under Section 301 of the Trade Act of 1974 against Germany on 18 June 2026. This investigation will seek to determine whether persistent underpayment for innovative
See MoreUS: Trump questions USMCA’s future as renewal talks intensify ahead of July deadline
President Donald Trump has cast doubt on the value of the US-Mexico-Canada Agreement (USMCA), suggesting the country would perform better without it. Speaking in France on Wednesday, 17 June 2026, Trump indicated he would "rather not have the
See MoreUS: More than half the US States signed up to participate in the federal scholarship tax credit program enacted under the One, Big, Beautiful Bill
The US Internal Revenue Service (IRS) announced on 8 June 2027 that 27 states have elected to participate in the Federal Scholarship Tax Credit (FSTC) program, which enables eligible taxpayers to claim a federal tax credit for qualified
See MoreUS: Congress moves forward on digital asset tax framework
The US House Ways and Means Committee held a hearing on 9 June 2026 to explore new tax rules for digital assets, advancing eight bills and discussion drafts that aim to simplify compliance and establish clearer rules for activities like
See MoreUS: Appeals Court rules to maintain Trump 10% global tariffsÂ
A federal appeals court ruled on 11 June 2026 to maintain a freeze on a lower court's decision that had challenged the Trump administration's newly imposed 10% global tariff. The move ensures tariff collection continues from three importers—two
See MoreUS: Trump Administration signals doubt over North American trade renewal
President Donald Trump has indicated the US may not renew the United States–Mexico–Canada (USMCA) Agreement, citing trade imbalances and stating that neither Canada nor Mexico offers goods America cannot obtain elsewhere. Despite these comments,
See MoreUS: IRS and Security Summit partners announce new framework to better protect taxpayers and tax revenue from fraud
The US Internal Revenue Service (IRS) and Security Summit partners announced on 8 June 2026 that a restructuring of the public-private partnership is designed to strengthen protections and enhance information sharing across the tax system. The
See MoreUS: Judge blocks Trump-era restrictions on clean energy tax credits
A US federal judge has overturned a Trump administration policy that had tightened requirements for renewable energy developers to claim federal tax incentives. US District Judge Colleen Kollar-Kotelly ruled on Saturday, 6 June 2026, that the
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US: IRS details agency activities in fiscal year 2025 Data Book
The US Internal Revenue Service (IRS) issued the 2025 Data Book on 5 June 2026, detailing the agency’s activities during fiscal year 2025. The report provides a statistical overview of the agency’s operations and the work employees performed to
See MoreUS: Treasury, IRS announce intent to issue proposed regulations for excise tax on excess tax-exempt organisation executive compensation under the One, Big, Beautiful Bill
The Department of the Treasury and the Internal Revenue Service (IRS) announced on 5 June 2026 that it issued Notice 2026-36, announcing its intent to issue proposed regulations addressing the tax on excessive compensation and excess parachute
See MoreUS consults scope, operation of mechanism to promote balanced and reciprocal trade with China
The Office of the United States Trade Representative (USTR) announced a public consultation on 2 June 2026 regarding the development of a new government-to-government mechanism—a US-China Board of Trade—intended to manage bilateral trade between
See MoreUS: USTR proposes action following forced labour investigation
The United States Trade Representative (USTR) released its findings and proposed measures on 2 June 2026 following the Section 301 investigations launched in March 2026 into 60 countries and economies to assess whether foreign governments have taken
See MoreUS: New York approves FY 2026-27 budget, introduces tip income tax exemption
New York Governor Kathy Hochul signed the New York State Fiscal Year 2027 Budget on 28 May 2026. This legislative package is designed to address the rising cost of living while funding critical public safety and infrastructure initiatives. While
See MoreUS: Trump Administration unveils 25% Brazil tariff over trade grievances
The Trump administration announced a new punitive tariff of 25% on numerous Brazilian imports on Monday, 1 June 2026, citing unfair trade practices spanning digital commerce, intellectual property rights, and environmental protection. US Trade
See MoreUS: Tariffs to remain as Trump Administration reframes USMCA trade deal
The Trump administration is pressing ahead with its tariff-first approach to trade with North American neighbours, according to US Trade Representative (USTR) Jamieson Greer. Speaking at the Council on Foreign Relations on Tuesday, 26 May 2026,
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