Tax Notes

Perspective: Nadia C. Altenburg and Joe Sullivan examine the OECD’s January side-by-side package, including how the simplified effective tax rate safe harbor introduces flexibility into the traditionally rigid global anti-base-erosion rules. taxnotes.co/4dsUDEs

"The lesson of the 1950s reforms was not that the IRS automatically deserved trust," @jthorndike writes. "It was that trust had to be rebuilt through a cleaner, stronger, more disciplined, and adequately funded agency." forbes.com/sites/taxnotes…

Perspective: Billy Hamilton examines the efforts to phase out Missouri’s income tax by expanding the sales tax, finding that getting lawmakers to support a tax increase — even if it’s part of a tax swap — is harder than building support for a tax cut. taxnotes.co/4tDqwQI

Perspective: Lucas Gribinski describes the difficulty in applying traditional permanent establishment structure to autonomous AI-generated products. taxnotes.co/4ntZz0e

Perspective: Jennifer Best, Donna McComber, and Amanda Worcester Martin explore tax certainty and the strategies and tools available to multinational enterprises to help minimize uncertainty and the risk of potential audits. taxnotes.co/4wMEuCC

IRS Chief of Taxpayer Services Kenneth Corbin said the agency is working to improve its process for asking taxpayers to provide bank account information while it phases out paper checks. Read more from @benmvaldez: taxnotes.co/4deiwRg

House Ways and Means Committee members are committed to finding bipartisan agreement on how to tax digital assets, several taxwriters said after meeting in a closed-door roundtable on the subject. Read more from @KatieLobosco: taxnotes.co/48ZuWd9

A bipartisan group of House lawmakers has proposed a tax credit aimed at covering the costs incurred by childbirth, potentially creating a supplement to the child tax credit. Read more from @JaredSerre: taxnotes.co/4nzV7gz

The SSTGB didn't approve a proposed amendment that would have clarified that member states won’t be found out of compliance with the Streamlined Sales and Use Tax Agreement if a noncompliant policy is necessary for the state to comply with federal law. taxnotes.co/4wn2k7A

California Gov. Gavin Newsom (D) has proposed establishing a permanent annual cap on the amount of state business tax credits companies can use and a temporary cut to the state’s minimum tax for small businesses. taxnotes.co/3R9gmtv

Attorneys on both sides of a dispute over a widespread withholding tax refund fraud agreed that there is no fraud exception for the revenue rule but disagreed on the rule’s application to the case. taxnotes.co/4nGe1Cr

Three policy experts discuss the uncertain future of the OECD's global tax framework amid stalled progress and waning consensus, during a live recording from the @ABATAXSECTION May meeting. Listen wherever you get your podcasts. 👇 taxnotestalk.taxnotes.com/124942/episode…

"The difference between then and now is not that 1950s lawmakers trusted the IRS," @jthorndike writes. "Rather, midcentury political leaders in both parties believed that, scandal or no, the tax system needed a functioning enforcement agency." forbes.com/sites/taxnotes…

The OECD is working on finalizing a statement outlining a common understanding among pillar 2-implementing jurisdictions that they will provide transitional relief when multinationals file their initial information returns under the GLOBE rules. taxnotes.co/48Zcul0

A former competition show judge is singing a different tune after claiming that the IRS improperly denied a deduction for alimony payments to his ex-wife. taxnotes.co/4uOZIxG

A top @USTreasury official clarified the thinking behind recent guidance allowing taxpayers to avoid corporate alternative minimum tax exposure for previously incurred domestic research and development expenses. taxnotes.co/42yfGjV

The IRS will address more areas of tax controversy following the recent announcement of its settlement offer for historic and conservation easements, according to acting IRS Chief Counsel Kenneth Kies. taxnotes.co/4uI9ZMe

"The lesson of the 1950s reforms was not that the IRS automatically deserved trust," @jthorndike writes. "It was that trust had to be rebuilt through a cleaner, stronger, more disciplined, and adequately funded agency." forbes.com/sites/taxnotes…

Weeks after Kentucky created the first-ever state-level tax on prediction markets, Pennsylvania is also looking to tax and regulate contract markets like Polymarket and Kalshi. taxnotes.co/4eHWRC0

The IRS has begun hiring Appeals officers to work complex cases and mediate alternative dispute resolution (ADR) programs a year after the office lost nearly 30 percent of its staff. Read more from @benmvaldez: taxnotes.co/4uhMtpE