US: Treasury, IRS issue final backup withholding regulations for third-party network transactions
The US Department of the Treasury and the IRS have issued final regulations (TD 10053) adopting, without changes, the proposed regulations (REG-112829-25) published on 9 January 2026. The regulations align the backup withholding rules for
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US: Trump administration wins court backing elimination of tariff exemption on low-value imports
The US Court of International Trade issued a ruling on 13 August 2025 that sided with the Trump administration's decision to eliminate the "de minimis" tariff exemption for small-value imports below USD 800. The three-judge panel found that the
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US: Trump signals federal challenge to New York luxury property tax
New York's so-called pied-à-terre tax faces mounting legal pressure after President Donald Trump announced on 11 August 2026 that the federal government might challenge the surcharge on luxury second homes in the city. The tax, designed to
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US: Treasury, IRS issue proposed regulations on employer contributions to Trump Accounts under the Working Families Tax Cuts
The US Department of the Treasury and the Internal Revenue Service (IRS) announced that it issued proposed regulations on 11 August 2026, guiding employers that choose to make contributions to Trump Accounts for employees or their dependents. The
See MoreUS: Trump administration to impose steep tariffs on drone imports to boost domestic production
The Trump administration is imposing tariffs of up to 100% on imported drones and drone components, as part of efforts to reduce US reliance on foreign suppliers and potentially accelerate the decoupling of drone supply chains from China. Under
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US: FinCEN permanently removes beneficial ownership reporting requirement for small companies
The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced on 11 August 2026 that it has issued a final rule permanently removing the requirement for US companies and US persons to report beneficial ownership
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US: IRS updates FAQs on qualified overtime compensation deduction
The US Internal Revenue Service (IRS) has updated its frequently asked questions on the deduction for qualified overtime compensation, providing further clarification on eligibility, calculation, reporting and withholding requirements. The
See MoreUS: IRS expands business tax account features for eligible businesses
The US Internal Revenue Service announced, on 6 August 2026, new and expanded features for Business Tax Account (BTA) users, giving eligible businesses and organisations more ways to view digital notices, make payments, and access and manage federal
See MoreUS: Trump administration returns USD 100 billion in struck-down tariffs
The Trump Administration has disbursed roughly USD 100 billion in refunds from tariffs the Supreme Court invalidated in February, according to a court filing released 5 August 2025. The figure represents about 60% of the USD 166 billion the
See MoreUS Treasury, IRS issue guidance on Saver’s Match Ahead of 2027 launch
The US Department of the Treasury and the Internal Revenue Service (IRS) issued Notice 2026-48 on 7 August, announcing their intention to propose regulations on the federal Saver’s Match program. The notice outlines anticipated rules for the
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US: Trump administration to reject solar industry push for faster polysilicon tariff rollout
The Trump administration is expected to reject requests from some US solar manufacturers to accelerate the implementation of a proposed 15% tariff and price floor on imported polysilicon products. The measures could be announced as early as Thursday
See MoreUS: Business Tax Account gives eligible taxpayers more secure, convenient ways to manage federal tax obligations online
The US Internal Revenue Service (IRS) on 6 August 2026 announced new and expanded features for Business Tax Account (BTA) users, giving eligible businesses and organisations more ways to view digital notices, make payments, and access and manage
See MoreUS: Treasury, IRS issue guidance on the permanent expansion of paid family and medical leave under the Working Families Tax Cuts
The Department of the Treasury and the Internal Revenue Service (IRS) announced that it issued Notice 2026-28 on 5 August 2026, providing guidance on the employer credit for paid family and medical leave (PFML) under the Working Families Tax Cuts
See MoreUS: 25 Democratic states challenge Trump’s forced-labour tariffs
A coalition of 25 Democratic-led US states has challenged the Trump administration in court, alleging that the President's latest tariffs on imports from 60 trading partners, like many of his previous sweeping tariff measures, exceed the legal
See MoreUS: Trump administration plans 15% tariff on polysilicon, solar imports
The Trump administration is expected to announce a 15% tariff and introduce minimum import prices on polysilicon and related solar products, including wafers, cells, and solar panels, following a national security investigation conducted under
See MoreUS: IRS, Security Summit warns tax pros to watch out for phishing emails and other attacks
The US Internal Revenue Service (IRS) and Security Summit partners issued a notice on 4 August 2026 warning tax professionals to watch for phishing emails and other schemes designed to steal sensitive taxpayer data. This is the second in the
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EU unleashes broad trade defence campaign targeting China, Russia, and now US Biofuels
The European Union executed a significant protectionist shift this week, defined by a sustained and escalating campaign of trade defence actions. The week began with sweeping new controls on Russian industrial materials taking effect and was
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Croatia: Government approves tax treaty, amending protocol with US
The Croatian government approved a draft bill on 30 July 2026 to ratify the Croatia–US income tax treaty, signed in 2022, and its amending Protocol, signed on 28 April 2026. According to the explanatory memorandum, the treaty is intended to
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