US: Trump administration releases factsheet on US-China trade deal
The Trump Administration released a fact sheet detailing the trade agreement reached between the US and China on 30 October 2025, on 1 November 2025. This follows the announcement by US Treasury Secretary Scott Bessent on 26 October 2025 that the
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US: IRS announces tax relief for North Dakota and South Dakota storm, flood victims
The US Internal Revenue Service (IRS) released ND-2025-01 and SD-2025-01 on 29 October 2025, announcing tax relief for individuals and businesses in parts of North Dakota and South Dakota affected by severe storms and flooding that began on 12 June
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US: IRS announces tax relief to Alaska storm and flood victims
The US Internal Revenue Service (IRS) in a notice (AK-2025-0) on 30 October 2025 announced tax relief for individuals and businesses in the Lower Kuskokwim Regional Educational Attendance Area, Lower Yukon Regional Educational Attendance Area, and
See MoreUS: Texas issues new franchise tax rates, threshold caps for 2026–27
The Texas Comptroller of Public Accounts has released the franchise (margin) tax rates, thresholds, and deduction limits for 2026 and 2027. The tax rates remain unchanged from 2024 to 2025, while both the no-tax-due threshold and the compensation
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US: California enacts law for IRC provisions conformity, introduces R&D tax credits
California Governor Gavin Newsom signed Senate Bill 711 (SB 711) into law on 1 October 2025, bringing the state’s tax code into conformity with various Internal Revenue Code (IRC) provisions from 1 January 2015 through 1 January 2025. SB 711,
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US and Korea (Rep.) sign trade deal, reduces auto tariffs
RF Report The US and Korea (Rep.) signed a major trade agreement on 29 October 2025. The key aspect of this agreement is the reduction of US tariffs on automobiles and auto parts imported from Korea (Rep.), from 25% to 15%. In exchange for
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US and Japan sign trade deal, critical minerals pact
RF Report The US and Japan finalised a new trade agreement on 28 October 2025 that implements the terms of a July deal, easing tariff tensions and deepening economic cooperation. Under the arrangement, the US will apply a reduced 15% tariff on
See MoreUS: IRS announces reduced services amid federal shutdown
RF Report The US Internal Revenue Service (IRS) announced on 21 October 2025 that, despite its limited operations during the ongoing US government shutdown, taxpayers are still required to meet all regular tax obligations. Tax refunds will
See MoreUS reduces Chinese tariffs post Trump-Xi meeting
RF Report US President Donald Trump announced a significant agreement with Chinese President Xi Jinping during their meeting at the APEC summit in South Korea on 30 October 2025. The two leaders agreed to reduce tariffs and address key trade
See MoreCambodia, Malaysia, Thailand sign agreement to scrap implementation of digital services taxes on US firms
Regfollower Desk The White House recently announced trade agreements with Cambodia, Malaysia, and Thailand, which include commitments from these nations to avoid imposing digital services taxes (DSTs) or similar measures that could unfairly
See MoreUS: Senate approves bill to overturn Trump’s tariffs on Brazilian imports
Regfollower Desk The US Senate, led by Republicans, has passed a bill to overturn President Donald Trump's tariffs on Brazil by ending the national emergency he declared in July. This emergency was in response to Brazil prosecuting its
See MoreUS: IRS urges tax professionals to renew PTINs ahead of 2026 filing season
All paid tax return preparers and enrolled agents must renew their PTINs annually, as 2025 PTINs will expire on 31 December 2025. Regfollower Desk The US Internal Revenue Service (IRS) issued a notice on 27 October 2025, reminding more than
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US: Trump imposes 10% tariff increase on Canada following World Series ad
US President Donald Trump announced a 10% tariff increase on Canadian goods after criticising an Ontario government ad he deemed misleading, escalating trade tensions and halting negotiations despite Canada’s move to pause the ad campaign. US
See MoreUS: Trump administration signs trade deals on rare-earth and critical minerals with Malaysia, Cambodia, Thailand, Vietnam
The US has signed trade and critical minerals agreements with Malaysia, Cambodia, Thailand, and Vietnam to address trade imbalances and secure alternative rare earth supply chains amid China’s export restrictions. The Trump Administration has
See MoreUS: Iowa retains corporate tax rates for 2026
The 2026 corporate income tax rates will remain the same as corporate income tax rates for tax years beginning in 2024 and 2025. The Iowa Department of Revenue issued an Order 2025-02 on 21 October 2025 regarding corporate income tax rates for
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US, China agree on rare earth framework amid Trump’s tariff warning
The US and China reached a preliminary trade deal in Malaysia to avert major tariffs and export restrictions, paving the way for upcoming talks between Trump and Xi on trade balance. US Treasury Secretary Scott Bessent announced on 26 October
See MoreUS: IRS releases guidance on credit, refund limits for employee retention credits
The FAQs discuss the limitation generally, when a claim is considered to be timely filed, and what appeals rights are available if an ERC claimed on a return is disallowed. The US Internal Revenue Service (IRS) has announced the issuance of the
See MoreUS: Trump administration terminates trade talks with Canada
President Trump halted all trade talks with Canada, citing a “fraudulent” Ontario government and misrepresenting former President Reagan’s views. US President Donald Trump announced on Thursday, 23 October 2025, that his administration has
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