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Paul Hastings LLP

HMRC Publishes Consultation on Reform of Taxation of US LLCs

Paul Hastings LLP on

On 10 June 2026, HMRC published a consultation document (Consultation) on reform of the taxation of U.K. resident members of U.S. limited liability companies (LLCs). The Consultation had been widely expected for a few months,...more

DLA Piper

No Time Limit on Carrying Forward Negative VAT Balances

DLA Piper on

Romania’s High Court of Cassation and Justice has published on its website a summary of Decision No. 6 of 20 April 2026, issued with a view to ensuring a uniform interpretation of the law by Romanian courts going forward....more

Cozen O'Connor

House Ways and Means Committee Considers Digital Asset Tax Legislation

Cozen O'Connor on

On June 9, the House Ways and Means Committee held a legislative hearing to consider a series of proposals aimed at establishing a clearer tax framework for digital assets. The Committee reviewed eight measures, including six...more

Hogan Lovells

HL UK Pensions Law Digest 12 June 2026

Hogan Lovells on

Welcome to our latest update, in which we cover: Release of surplus: draft regulations - • The DWP’s long-awaited regulations, with detailed requirements for the release of surplus to employers;...more

DLA Piper

Indirect Tax Monthly Alert - May 2026

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In this update, we provide a summary of important VAT and Customs Tax developments from May 2026 with implications for global business operations....more

DLA Piper

TP adjustments and consideration for a VAT taxable supply

DLA Piper on

In Stellantis Portugal (Case C‑603/24, 13 May 2026), the CJEU held that transfer pricing adjustments made under an intra-group agreement to maintain a target margin for a vehicle distributor were not on the facts...more

Orrick, Herrington & Sutcliffe LLP

FinCEN issues advisory on unlawful employment and financial system risks

On June 5, FinCEN, the FDIC, the OCC, and the NCUA, in coordination with the IRS, jointly issued an advisory urging financial institutions, particularly banks, to monitor for fraud schemes and other suspicious or potentially...more

DLA Piper

VAT treatment of debt factoring clarified following Revenue TDM update

DLA Piper on

Irish Revenue has updated its Tax and Duty Manual on the VAT treatment of debt factoring and invoice discounting to reflect the CJEU decision in Kosmiro. ...more

DLA Piper

Italian Tax Authority confirms VAT exemption for import of personal yachts of new Italian residents

DLA Piper on

As a preliminary remark, the Italian Tax Authority limits its analysis to VAT, since customs duties fall within the jurisdiction of the Italian Customs Authority and, therefore, lie outside the scope of the ruling. In...more

DLA Piper

Spanish Tax Authority clarifies foreign VAT refund eligibility of US businesses

DLA Piper on

Non-established businesses may claim a refund of Spanish VAT under Spain’s implementation of the 13th Directive foreign VAT refund scheme. The requirements for claiming a VAT refund under this regime are broadly similar to...more

DLA Piper

The Dutch Court of Appeal clarifies entitlement of taxpayers to late payment interest in case of VAT repayment claims

DLA Piper on

A Dutch company (X) sold goods to private individuals in Belgium over the course of several years (2015 to 2018). Under EU distance sales rules, the place of supply was deemed to be Belgium, meaning Belgian VAT was due....more

Ropes & Gray LLP

Sabre-rattling: Digital services taxation and the Sabre Global case

Ropes & Gray LLP on

The first court proceedings on the UK’s digital services tax, Sabre Global v. British Airways, give a taste of what may be to come in this evolving area: cross-border disputes, conflicts of laws, compliance complexities, and...more

RK Partners

Form 6765 Section G: What CPAs Need to Know Before It Becomes Mandatory

RK Partners on

The IRS finalized updated instructions for Form 6765, Credit for Increasing Research Activities, in February 2026. The most meaningful change is Section G, a new component-level reporting requirement that requires taxpayers...more

DLA Piper

California Eyes a Landmark Sales Tax Expansion on Digital Software and SaaS

DLA Piper on

On May 14, 2026, Governor Newsom’s May Revision proposed extending California’s sales and use tax to digital prewritten software regardless of delivery method—including electronically delivered software and SaaS. Currently,...more

DLA Piper

Marketplace VAT errors don’t shift legal liability

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The UK FTT considered whether HBS Enterprises Ltd (HBS), a UK-based seller had to account for VAT on sales made through an online marketplace where some transactions had been incorrectly treated by the platform as falling...more

Tucker Arensberg, P.C.

Do I Need a Trust? Understanding When a Trust Fits Your Estate Plan

Tucker Arensberg, P.C. on

One of the most common questions I receive from clients is whether they need a trust as part of their estate plan. The answer is not always straightforward....more

Kohrman Jackson & Krantz LLP

IRS Revenue Procedure 2026‑17 Opens Door to Bonus Depreciation for Real Estate Investors

Real estate investors rarely get a second chance to revisit a tax election once it has been made, especially one the Internal Revenue Code labels “irrevocable.” Revenue Procedure 2026‑17 changes that. In a significant...more

Harris Beach Murtha

Oneida County Expands Housing Incentives for Rental and Owner-Occupied Projects

Harris Beach Murtha on

The Oneida County Industrial Development Agency adopted a new Uniform Tax Exemption and Agency Benefits Policy (the “Policy”) for rental and owner-occupied projects, expanding its prior market-rate rental housing policy and...more

Foley & Lardner LLP

Five Compliance Best Practices for … the Valuation of Imports

Foley & Lardner LLP on

As an accompaniment to our biweekly series on What Every Multinational Should Know About various international trade, enforcement, and compliance topics, below find an update to our “Five Compliance Best Practices” series,...more

Bergeson & Campbell, P.C.

IRS Cancels June Hearing on Petition to Add Methyl Methacrylate-Ethyl Methacrylate-Methacrylic Acid Copolymer in a Styrene...

As reported in our May 22, 2026, blog item, the Internal Revenue Service (IRS) announced on May 18, 2026, that it will hold a hearing on June 18, 2026, on the notice of filing to add methyl methacrylate-ethyl...more

Hogan Lovells

Release of surplus from UK defined benefit (DB) pensions: draft regulations

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The DWP has issued long-awaited draft regulations setting out more detailed requirements for allowing the release of surplus under new powers introduced by the Pension Schemes Act 2026. Consultation closes on 2 September...more

Cozen O'Connor

A Comprehensive Guide for Families and Advisors

Cozen O'Connor on

A Transformational Planning Tool for Disability Financial Independence - The Achieving a Better Life Experience (ABLE) account, authorized under Internal Revenue Code § 529A, represents one of the most significant...more

BakerHostetler

[Podcast] The Cloakroom with Peter Roskam: 37th Annual Legislative Seminar – Congressman Brad Knott, R-NC

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Former Congressman Peter Roskam, who leads BakerHostetler’s Federal Policy team, provides listeners with a front-row seat to the most important policy and political debates in Congress. In this episode of “The Cloakroom with...more

Mayer Brown

FinCEN and Banking Agencies Issue Joint Advisory on Non-Work-Authorized Populations and ITIN-Based Account Due Diligence

Mayer Brown on

On June 5, 2026, the Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”), jointly with the Federal Deposit Insurance Corporation (“FDIC”), the Office of the Comptroller of the Currency (“OCC”), and the...more

Littler

Federal Court Invalidates $100K H-1B Fee

Littler on

On Monday, June 8, 2026, a federal judge in Massachusetts invalidated the $100,000 fee for new H-1B visas,1 determining that President Trump lacked the authority to impose a tax on this visa program for highly skilled...more

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