Michael Rapoport

The new alternative minimum tax was designed to hold big profitable companies accountable. But it gives them wiggle room on how they report expenses on their financial statements to investors, and thus an incentive to boost those costs and lower the overall bill. Regulators are weighing that as they prepare to issue long-delayed rules on how the tax should be calculated and applied.

The Supreme Court issued a narrow ruling in its biggest tax case in years, leaving unanswered questions about what the decision could mean for any future wealth tax.

The US Supreme Court ruling Thursday on a key foreign-income tax case allays the most dire fears that it could upset other parts of the tax code, but questions remain about what it may signal for a potential future wealth tax and other provisions.

Australia’s get-tough stance against multinationals they view as avoiding its taxes could prompt some companies to reassess the future of their businesses there.

Accounting firm Grant Thornton LLP has completed the sale of a large stake in the firm to private-equity firm New Mountain Capital LLC.

A proposed IRS regulation provides needed help in exempting more taxpayers from foreign trust reporting requirements, but practitioners say the agency should go further in providing relief on that and other foreign trust issues.

A UK appeals court rejected BlackRock Inc.’s claim that it was entitled to a tax deduction of 654 million pounds ($821 million) on financing for a key acquisition.

A United Nations committee developing a framework for international tax cooperation began work Tuesday, electing an Egyptian finance official as its chair.

The US, Austria, France, Italy, Spain, and the UK said Thursday they would extend an agreement through June allowing the five countries to retain their digital services taxes because implementation of the planned replacement for the DSTs has taken longer than expected.

An IRS legal-advice memo on how to treat loans from one part of a corporate group to another suggests the agency is ramping up its attention to a transfer-pricing area in which taxpayers are pushing back against doing things the way the IRS wants.

The Australian government is seeking comment on proposed changes to its location and producer tax offsets, two tax benefits aimed at encouraging production studios to shoot movies and TV series in the country.

Guidance on President Joe Biden’s tax-and-climate law, the global tax deal, and cryptocurrency will take center stage this year.

Within days, tens of millions of companies will face new requirements to tell the government more about who owns them—and many of them don’t even know it.

The IRS has released a draft form and instructions for taxpayers to report the new corporate alternative minimum tax, or CAMT.

Law-enforcement agencies, foreign governments, and financial institutions will be able to see newly disclosed information on who owns tens of millions of companies, but they’ll have to jump through a variety of hoops to get it, under a rule issued Thursday.

Gibraltar said Tuesday it would introduce a top-up tax as part of its implementation of the new global minimum tax.

A proposed Treasury Department rule aimed at fighting money laundering that is conducted via US residential real estate transactions is under White House regulatory review.

Congress’s Joint Committee on Taxation is closely following a major tax case before the Supreme Court that potentially could upend sections of the tax code and dramatically reduce the government’s revenue, a committee staffer said Friday.

Regulations to implement the new book-income minimum tax, which the Treasury Department had hoped to issue by the end of the year, will slip into January, a Treasury official said Thursday.

The IRS is aiming to issue proposed regulations next year on transactions between US individuals and foreign trusts, an IRS attorney said Thursday.