Taxation
Renewed Calls for Windfall Tax on Oil Companies as Profits Surge After Iran Strike
A U.S.-Israeli military strike on Iran has driven oil prices up, boosting energy company profits and reigniting advocacy for taxing those gains to fund clean energy and consumer relief.
Self-Directed IRA Investors Face Unexpected Tax Liabilities on Alternative Investments
Next Generation Trust Company warns that debt-financed alternative investments in self-directed IRAs can trigger UDFI and UBIT taxes, potentially jeopardizing retirement accounts if not properly managed.
John Crone Advocates for U.S. Tax System Reform in Second Edition of 'Tax-Free at Last'
John Crone's second edition of 'Tax-Free at Last' critiques the U.S. tax system's inefficiencies and proposes reforms for a fairer, more sustainable future.
Indonesia Proposes New eCommerce Sales Tax Regulation to Level Retail Playing Field
Indonesia's plan to mandate eCommerce platforms to collect sales tax aims to boost government revenue and ensure fairness between online and traditional retailers.
Japanese FSA Proposes Lower Taxes and Reclassification for Cryptocurrencies
The Japanese Financial Services Agency's proposal to lower taxes and reclassify cryptocurrencies could significantly impact the crypto investment landscape in Japan, potentially introducing cryptocurrency ETFs and a flat 20% tax rate on digital asset profits.
Crypto Tax Compliance: Expert Warns of Increasing IRS Scrutiny
A recent interview with crypto tax attorney Andrew Gordon reveals critical insights into digital asset taxation, highlighting the importance of proper record-keeping and proactive compliance as IRS enforcement intensifies.
Santa Cruz Breaks Seven-Year Sugary Drink Tax Drought, Voters Approve Public Health Measure
Santa Cruz has become the first California city since 2018 to implement a sugary drink tax, marking a significant victory for public health advocates against the beverage industry's opposition. The two-cents-per-ounce tax is expected to generate $1.3 million annually and aims to reduce sugary drink consumption.
Trump Voids Expanded IRS Rule on Crypto Broker Definitions
President Trump has signed a measure nullifying a controversial IRS rule that would have significantly broadened the definition of crypto brokers, potentially impacting decentralized cryptocurrency exchanges and the broader digital asset ecosystem.