US: CRS publishes report on enforcing remedies for unfair foreign tax practices
The US House of Representatives passed the One Big Beautiful Bill Act on 22 May 2025, now with the Senate. A key tax measure includes adding section 899, "Enforcement of Remedies Against Unfair Foreign Taxes," to the Code. The US Congressional
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J5 Australia, Canada, Netherlands, UK, and US publish report on fintech use in tax evasion and money laundering
The J5 group—Australia, Canada, Netherlands, UK, and US—has released a report examining how fintech is used to facilitate tax evasion and money laundering. The Joint Chiefs of Global Tax Enforcement (J5) released three reports today –
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US: IRS offers tax relief to Mississippi flood and storm victims
The IRS announced tax relief for individuals and businesses in parts of Mississippi affected by storms, floods, and straight-line winds starting on 14 March 2025. Impacted taxpayers have until 3 November 2025 to file federal tax returns and make
See MoreUS Appeals Court upholds stay on ruling on Trump tariffs
The US federal appeals court has upheld President Donald Trump's tariffs while reviewing a lower court's decision that claimed Trump exceeded his authority in imposing them. The US federal appeals court on Tuesday, 10 June 2025, upheld the
See MoreUS: IRS offers tax relief to Oklahoma wildfire and storm victims
The IRS announced tax relief for individuals and businesses in parts of Oklahoma affected by wildfires and straight-line winds starting on 14 March 2025. Impacted taxpayers have until 3 November 2025 to file federal tax returns and make
See MoreUS: IRS offers tax relief to Missouri wildfire and storm victims
The IRS announced tax relief for Missouri residents and businesses affected by severe storms, tornadoes, and wildfires starting on 14 March 2025. Impacted taxpayers have until November 3, 2025, to file federal tax returns and make payments. The
See MoreUS: IRS offers tax relief to Texas storm victims
The IRS has announced tax relief for individuals and businesses in parts of Texas impacted by severe storms and flooding starting on 26 March 2025. Affected taxpayers have until 3 November 2025 to file tax returns and make payments. The US
See MoreUS extends Section 301 tariff exemptions on Chinese imports through August 2025
The USTR has extended certain product exclusions from Section 301 tariffs on Chinese imports until 31 August 2025. The Office of the US Trade Representative (USTR) has announced an extension of specific product exclusions from Section 301 tariffs
See MoreUS: IRS offers assistance for taxpayers missing the filing deadline
The IRS announced resources for taxpayers who missed the 15 April tax filing deadline, offering guidance for handling owed taxes, interest, and penalties. The US Internal Revenue Service (IRS) released IR-2025-66 on 9 June 2025, highlighting
See MoreUS: IRS reminds taxpayers due date of second quarter estimated tax payment of 16 June
The IRS issued a reminder that the second quarter 2025 estimated tax payment is due on 16 June 2025. The US Internal Revenue Service (IRS) issued IR-2025-65 on 6 June 2025, reminding taxpayers that the second quarter 2025 estimated tax payment is
See MoreUS: IRS issues interim guidance on simplified option for CAMT calculation
The guidance offers a simplified method to determine "applicable corporation" status under IRC Sec. 59(k), increasing minimum thresholds and waiving some estimated tax penalties. The US Internal Revenue Service (IRS) issued Notice 2025-27,
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US: Trump imposes 50% tariffs on steel and aluminium imports
The Trump Administration has increased tariffs on US imports of steel, aluminium, and derivatives from 25% to 50%, effective 4 June 2025. Tariffs on UK imports remain at 25%. The Trump Administration has doubled the tariffs on US imports of
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Mexico objects US tax on cross-border remittances
The One, Big, Beautiful Bill (Act), which is now under Senate review, proposes a 3.5% tax on all remittances sent by non-US citizens to foreign countries, regardless of the transfer amount. The US House of Representatives passed the One,
See MoreUS: Hawaii introduces lodging tax for climate-change mitigation
The law adds a 0.75% "Green Fee" to the existing transient-accommodations tax of 10.25% and imposes a levy on cruise-ship passengers docking in the islands. Hawaii Governor Josh Green has signed SB 1396 into law, making Hawaii the first US
See MoreUS: Trump administration weighs 15% tariffs for 150 days
The Trump administration is reportedly considering using an existing law to impose 15% tariffs for 150 days on parts of the global economy. A final decision is yet to be announced. According to a Wall Street Journal report, President Donald
See MoreUS: Trump to double steel and aluminium tariffs to 50%
President Trump announced plans to double tariffs on imported steel and aluminum to 50% on 30 May 2025. US President Donald Trump announced on 30 May 2025 that his administration plans to raise tariffs on imported steel and aluminium from 25%
See MoreUS: Court of International Trade rules Trump tariffs unconstitutional, Court of Appeals issues administrative stay while it reviews appeal
Court of International Trade cited Congress's exclusive authority over taxes and commerce on 28 May 2025. On 29 May 2025, the US Court of Appeals for the Federal Circuit issued an administrative stay while it reviews an appeal from the Trump
See MoreUS: Trump pledges to negotiate ‘big, beautiful’ tax bill for Senate approval
Trump’s remarks came after Elon Musk said in a CBS interview that he was ‘disappointed’ with the bill’s massive spending, which undermines the Department of Government Efficiency (DOGE) efforts to reduce the US budget deficit US
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