News
Supreme Court Case Among State and Local Tax Issues to Watch
1+ hour, 45+ min ago (810+ words) In 2025, state and local tax practice proved that what's old is new, as states and taxpayers raised new challenges to longstanding issues. Many of those developments will continue to affect SALT in 2026 as we see renewed challenges to Public Law…...
Hybrid Retirement Plan Accounting Subject of US Board Analysis
14+ hour, 15+ min ago (120+ words) Hybrid Retirement Plan Accounting Subject of US Board Analysis'news.bloombergtax.com US accounting rule writers will study how companies should account for an emerging type of hybrid retirement plan in their financial reports. The Financial Accounting Standards Board voted unanimously…...
New Jersey Real Estate Broker’s Commissions Are Taxable Wages
14+ hour, 44+ min ago (122+ words) New Jersey Real Estate Broker's Commissions Are Taxable Wages'news.bloombergtax.com A licensed New Jersey real estate broker who also served as an officer and part-owner of his firm must treat sales commissions as taxable wages, the New Jersey Tax…...
Michigan County Erred in Factoring Taxes in Foreclosure Surplus
18+ hour, 1+ min ago (107+ words) Michigan County Erred in Factoring Taxes in Foreclosure Surplus'news.bloombergtax.com Eaton County, Mich. improperly charged the estate of a former property owner for taxes that were not yet delinquent when calculating the surplus from a foreclosure auction, the state…...
Tax Return Digitization Legislation Gets House Panel Approval
18+ hour, 43+ min ago (119+ words) Tax Return Digitization Legislation Gets House Panel Approval'news.bloombergtax.com The House committee with jurisdiction over the IRS advanced a bill Wednesday that seeks to streamline processing of electronically prepared tax returns that are submitted on paper. The House Ways…...
Rhode Island Governor Floats Cutting Social Security, Gas Taxes
23+ hour, 44+ min ago (111+ words) Rhode Island Governor Floats Cutting Social Security, Gas Taxes'news.bloombergtax.com Rhode Island Gov. Dan McKee (D) proposed eliminating the state's tax on Social Security benefits, creating its first permanent child tax credit, and lowering the gasoline tax in a bid…...
Baker Tilly Posts 20% Surge in Global Revenue After US Merger
1+ day, 11+ hour ago (101+ words) Baker Tilly Posts 20% Surge in Global Revenue After US Merger'news.bloombergtax.com Professional services firm Baker Tilly International's global revenue surged more than 20% in 2025, driven by a US private equity-backed merger, with plans to grow even faster in the next…...
Express Scripts Can’t Take $42.9 Million Deduction, DOJ Says (1)
1+ day, 12+ hour ago (113+ words) Express Scripts Can't Take $42.9 Million Deduction, DOJ Says'news.bloombergtax.com A federal district court properly rejected Express Scripts Inc.s request for nearly $77 million in tax refunds over three years because the company's software doesn't qualify as a domestic production…...
Proposed Digital Ad Tax on Social Media Stalls in California
1+ day, 14+ hour ago (100+ words) Proposed Digital Ad Tax on Social Media Stalls in California'news.bloombergtax.com A California bill that would have taxed social media platforms" gross receipts from digital advertising to fund programs related to youth mental health stalled out in committee. The…...
California Lawmakers Drop Plan to Amend Los Angeles Mansion Tax
1+ day, 14+ hour ago (122+ words) California Lawmakers Drop Plan to Amend Los Angeles Mansion Tax'news.bloombergtax.com The two California lawmakers who proposed legislation last session to amend certain provisions of the Los Angeles "mansion tax" say they won't be revisiting the effort this session....