News & Analysis as of August 16, 2025

Reporting Requirements

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

One Big Beautiful Bill Act, H.R. 1 – 119th Congress (2025-2026): Part IX – Deductibility of Automobile Loan Interest

Foster Garvey PC on 8/8/2025

In this ninth installment of my multi-part series on the One Big Beautiful Bill Act (the “Act”), I discuss provisions of the Act that may permit individual taxpayers to deduct the interest incurred with respect to their...more

New and increased investigation possibilities for the Belgian tax authorities as of 2023

A&O Shearman on 1/20/2023

Over the last few months, the Belgian legislator has enacted new measures that will expand the tax authorities' investigative powers from 2023 onwards. These measures include longer and new tax assessment periods, as well as...more

Texas Tax Roundup | May 2022

Freeman Law on 6/20/2022

Howdy folks, and welcome back to another captivating installment of Texas Tax Roundup, where we gab about all things Texas taxes. Nothing court-side this month, just a bunch at the administrative level. Still, it’s...more

New Stimulus Package Creates New Tax Reporting Requirements for Gig Economy Businesses

Fisher Phillips on 3/29/2021

Gig economy businesses might be unaware of a new requirement in the latest American Rescue Plan stimulus package that is designed to help workers keep track of and correctly pay their taxes each year. The new requirement is...more

After Ten Years, FATCA is NOT GOING AWAY!

Foodman CPAs & Advisors on 12/16/2020

FATCA was signed into law in March 2010 with the objective of combating international income tax reporting non-compliance by US citizens and U.S. taxpaying residents (US Taxpayers). It requires Foreign Financial Institutions...more

IRS issues FATCA Relief but not for All

Foodman CPAs & Advisors on 1/17/2020

On September 6, 2019, IRS announced Relief Procedures for Certain Former Citizens. These are procedures for certain persons who have relinquished, or intend to relinquish, their United States citizenship, who wish to come...more

Still Tax, Even Without the Distributed Cash

McDermott Will & Schulte on 10/22/2019

The IRS recently issued guidance on the tax treatment, withholding and reporting for required distributions from tax-qualified retirement plans. Plan sponsors should contact their retirement vendors and trustees to ensure...more

Weekly IRS Roundup September 2 – 6, 2019

McDermott Will & Schulte on 9/9/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 2 – 6, 2019. September 3, 2019: The IRS issued a notice in which it released the...more

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