US: IRS reminds taxpayers who filed for extensions for 15 October 2025 tax return deadline
The IRS reminded taxpayers that 15 October 2025 is the deadline to file 2024 tax returns for those who obtained an extension. The US Internal Revenue Service (IRS) issued a notice on 14 October 2025, in which it reminded individuals who filed
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US: Trump to impose 100% additional tariffs on Chinese imports in response to rare earth export restrictions
President Trump announced additional 100% tariffs on Chinese imports and new export controls on US software in response to China’s tightened restrictions on rare earth exports. US President Donald Trump announced on Truth Social, on 11 October
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US: IRS announces 2026 tax inflation adjustments, includes amendments from One Big Beautiful Bill
The IRS detailed annual inflation adjustments for the tax year 2026, affecting over 60 tax provisions, including tax rate schedules and other related changes. The US Internal Revenue Service (IRS) released Revenue Procedure 2025-32, detailing
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Bangladesh approves US wheat purchase amid trade talks
Bangladesh approves 220,000 tons of US wheat to boost trade ties and diversify supplies. Bangladesh has authorised the purchase of around 220,000 metric tons of wheat from the US under a government-to-government agreement, officials said on 7
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US: Trump to postpone implementation of 25% tariff on trucks by one month
The tariff was initially announced as part of a broader package of import duties unveiled last month, aimed at strengthening domestic manufacturing and addressing what the administration has described as national security concerns. President
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US: Treasury, IRS provide penalty relief for remittance transfer providers who fail to deposit excise tax under the OBBB
The US Department of the Treasury and the IRS have issued Notice 2025-55, granting limited penalty relief to remittance transfer providers for the first three quarters of 2026 as they adapt to the new 1% remittance transfer tax under the One, Big,
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US: IRS, Treasury issues guidance to streamline interest capitalisation for property improvements
The guidance includes final regulations for eliminating the associated property rule and related provisions for interest capitalisation on improvements to designated property. The US Treasury and the Internal Revenue Service (IRS) have released
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US: IRS extends treaty benefits to reverse foreign hybrids subject to branch profits tax
The IRS Chief Counsel ruled that reverse foreign hybrids may qualify for reduced branch profits tax on dividend equivalent amounts attributable to treaty-eligible owners. The US Internal Revenue Service (IRS) Chief Counsel has determined that
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US: IRS retracts proposed rules on corporate divisions, reorganisations
The U.S. Treasury and IRS have withdrawn the 30 September 2025 proposed regulations on corporate separations, incorporations, reorganisations, and multi-year tax reporting for related transactions. The U.S. Department of the Treasury and the
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Brazil, US sign agreement on automatic tax data sharing
The arrangement creates a formal system for Brazil and the U.S. to automatically share tax information under their 2007 agreement. The U.S. Internal Revenue Service (IRS) and Brazil have published a competent authority arrangement on 27 August
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US: Court of Appeals determines tax authorities cannot reallocate income beyond a taxpayer’s legal entitlement
The IRS sought to reallocate an additional USD 23.7 million in royalties to 3M under the arm’s-length standard, despite the company’s Brazilian subsidiary being legally limited to paying only USD 5.1 million. The US Court of Appeals for the
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US: Trump weighs major tariff relief to boost US auto manufacturing
The proposal aims to cut costs for major U.S. carmakers by rewarding companies that assemble vehicles domestically, supporting Trump’s job creation goals. US President Donald Trump is considering a major tariff relief plan aimed at boosting US
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US: IRS extends filing, payment deadlines for taxpayers impacted by ongoing conflict in Israel
IRS is providing separate but overlapping relief to taxpayers who may be unable to meet a tax-filing or tax-payment obligation, or may be unable to perform other time-sensitive tax-related actions. The US Internal Revenue Service (IRS) announced,
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US: Treasury, IRS issue guidance on rural opportunity zone investments under the One, Big, Beautiful Bill
The guidance provides clarification on rural Qualified Opportunity Zone investments, which offer tax incentives to encourage economic growth and job creation in underserved areas. The US Department of the Treasury and the Internal Revenue Service
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US: IRS issues interim guidance on corporate alternative minimum tax (CAMT)
The two notices, Notice 2025-46 and Notice 2025-49, on 30 September 2025, provide interim guidance on the corporate alternative minimum tax (CAMT). The US Internal Revenue Service (IRS) issued two notices, Notice 2025-46 and Notice
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US: IRS, Treasury announce reduced user fees for tax professionals applying for or renewing PTINs, initiates public consultations
The US Treasury and IRS announced interim final regulations and a proposed rule to lower the user fee for tax professionals applying for or renewing a PTIN. The Department of the Treasury and the Internal Revenue Service (IRS) issued IR-2025-95
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US: Trump imposes 10% tariff on lumber, 25% on furniture and cabinets
Trump argued that these imports were undermining the US economy by threatening domestic wood mills, disrupting supply chains, and reducing the utilisation of American wood industries. US President Donald Trump signed a presidential proclamation
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US introduces ‘platinum card’ visa permitting 270-day stay with no foreign income tax
The Trump Platinum Card will allow individual applicants to reside in the US for up to 270 days per year without being subject to tax on non-US income. The US has unveiled plans for a "Platinum Card" that would enable foreign nationals to stay in
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