1+ hour, 43+ min ago   (117+ words) news.bloombergtax.com The Trump administration proposed a regulation that could significantly change the way states can generate additional income to fund their Medicaid programs. The proposed rule (RIN 0938-AV93), released Tuesday by the Centers for Medicare & Medicaid Services, cracks down…...

7+ hour, 46+ min ago   (117+ words) Treasury Replaces Top Tax Policy Official After Kies’ Departure news.bloombergtax.com Kevin Salinger will be acting assistant secretary for tax policy at the Treasury Department effective immediately following the departure of Ken Kies. The announcement came in a Treasury…...

7+ hour, 58+ min ago   (133+ words) news.bloombergtax.com New UK Chancellor of the Exchequer John Healey can cut taxes and strengthen the public finances by tackling distortions in the tax system, the budget watchdog’s top economist said. David Miles, chief macroeconomic forecaster at the Office…...

2+ hour, 51+ min ago   (362+ words) The US Office of Personnel Management has lost more than a third of its staff since President Donald Trump returned to the White House, according to a report from the Government Accountability Office. The headcount at OPM fell by 1,052 between…...

6+ hour, 42+ min ago   (93+ words) news.bloombergtax.com A United Nations draft proposal would allow countries to tax tech giants on revenue generated from their markets, even where those companies have no physical presence. Countries would be able to tax a company, irrespective of its…...

16+ hour, 7+ min ago   (1252+ words) By Amanda IaconeGraphics by Irfan Uraizee Enron Corp. exploited US accounting rules to hide from investors and lenders hundreds of millions in debt it had bundled into off-balance sheet entities — obligations that contributed to one of the biggest corporate collapses…...

5+ hour, 16+ min ago   (141+ words) news.bloombergtax.com America’s Car-Mart Inc. thrived during a ’90s slump, the 2008 financial crisis and the upheaval of Covid-19 by doing one thing well: selling and financing older, high-mileage used cars for cash-strapped, deeply-subprime buyers. Now, that machine is sputtering. Hamstrung…...

15+ hour, 52+ min ago   (795+ words) Impending deadlines are driving business owners to litigate denied and delayed Covid-19 tax credits, despite warnings from attorneys that the unsettled legal landscape makes winning uncertain and expensive. Since the Employee Retention Credit’s creation in 2020, tax lawyers have advised clients…...

6+ hour, 14+ min ago   (116+ words) news.bloombergtax.com A recent Maryland Supreme Court ruling broadening a sales tax exemption for production activity presents an opportunity for utility companies to make similar arguments in that state and beyond. The court held that FirstEnergy Corp. subsidiary Potomac…...

6+ hour, 27+ min ago   (128+ words) news.bloombergtax.com PBGC, the federal government’s private-sector pension insurer, is planning to update its penalty and waiver process for plans that fail to provide required notices or other information to participants or the government. The Pension Benefit Guaranty Corporation…...