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Momentum is building for a federal gas tax holiday, but reservations among important lawmakers could make enactment difficult. Other new developments are raising hopes for digital asset tax reform, while Republicans continue to try to bridge divides over priorities for a third reconciliation bill.
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In a significant decision with immediate implications for U.S. importers, the U.S. Court of International Trade (CIT) issued a divided opinion on May 7, 2026 holding that the 10% “temporary global tariff” imposed under Section 122 of the Trade Act of 1974 was unlawful.
The tax-exempt status of nonprofit hospitals has long been rooted in a clear expectation: in exchange for exemption from federal, state, and local taxes, these organizations must provide measurable benefits to the communities they serve.
Most boards discover gaps in risk oversight only after something goes wrong. These questions are designed to help boards understand whether management is identifying, prioritizing, and actively managing the risks that matter most—before outcomes are at stake. Risk conversations, as a dedicated part…
The IRS has released Notice 2026-11, providing interim guidance to implement changes the One Big Beautiful Bill Act (OBBBA) made to the Section 168(k) additional first-year depreciation deduction rules. The notice states that the government intends to issue proposed regulations consistent with the…