Analysis of macroeconomic indicators such as interest rates, inflation, and exchange rates. Understand their impact on the business and tax landscape.
Which states are pushing state wealth tax 2026 proposals on millionaires and billionaires? At least a dozen states — including California, Illinois, Minnesota, New York, Rhode Island, and Virginia — have advanced new tax proposals targeting the wealthiest taxpayers in 2026. Mechanisms range from one-time billionaire net-worth levies (California ballot) to pied-à-terre property taxes (NYC),…
What is the IPA tariff refund CAPE system and how do importers claim refunds? Following the Supreme Court’s invalidation of IEEPA-based tariffs, CBP launched the CAPE refund mechanism on April 20, 2026 — a new submission system within the ACE environment for recovering an estimated $166 billion collected between April 2025 and February 2026 across…
What is the SEC’s proposed semiannual reporting framework? On May 5, 2026 the SEC proposed rules allowing public companies to opt into semiannual reporting via a new Form 10-S — replacing three Form 10-Q filings per year with one mid-year report. Quarterly remains the default; semiannual is an annual opt-in election made on the cover…
What are the most important state tax updates from May 8, 2026? A California appellate court rejected the FTB’s “unitary business” theory against a Texas-based remote contractor, Maryland enacted OBBBA decoupling and PTET changes via the BRFA of 2026, New York’s appellate court affirmed Article 9-A’s P.L. 86-272 internet activity rule, Massachusetts addressed penny-shortage rounding…
What were the major Capitol Hill tax developments the week of May 1, 2026? The House Ways and Means Committee held a hospital-CEO hearing on healthcare costs and OBBBA impact, the House passed the FY2026 budget resolution 215-211 to launch border-security reconciliation, the chamber approved tax administration and relief bills with strong bipartisan margins, and…
What are the most important state tax updates for May 2026? Deloitte’s State Tax Matters (Issue 2026-17) highlights five income/franchise developments — California’s agribusiness three-factor apportionment ruling, Idaho’s Supreme Court fiscal-year tax rate decision, Illinois’s intercompany interest addback, Kansas’s GILTI deletion, and Kentucky’s IRC §174A modifications — plus key sales/use updates. For multistate tax teams…
How should companies handle tariff disclosures after the IEEPA Supreme Court ruling? The Supreme Court’s February 20, 2026 6-3 ruling that the IEEPA does not authorize presidential tariff impositions has shifted the disclosure landscape — and SEC guidance now expects MD&A coverage of magnitude, mitigation, recovery, and known trends, with quantification preferred and non-GAAP adjustments…
How are the new OBBBA tax deductions performing in the 2026 filing season? More than 60 million taxpayers have claimed at least one OBBBA deduction — 34M for the senior deduction, 28M for overtime, and 7M for tipped income — even as the House Appropriations Committee advances a $10.2B FY2027 IRS budget that would cut…
How did the IRS 2026 filing season perform and what’s next for the agency? IRS CEO Frank Bisignano reported 134 million returns filed, a $3,400 average refund up 11%, and $2 billion collected from the agency’s five largest enforcement cases — even as House appropriators propose a 9% FY2027 budget cut. The IRS 2026 filing…
Do securities laws apply to blockchain tokens? The SEC tokenized securities statement of January 28, 2026 confirms existing federal securities laws apply to blockchain-based tokens. No new rules, no safe harbor — just a clear reaffirmation that tokenization is a technical change, not a legal one. On January 28, 2026, three SEC divisions made something…
