TaxReform

Democrats Target Puerto Rico's Tax Incentives for Crypto Investors

2 months ago

In a significant policy shift, Democratic lawmakers are turning their attention to the controversial tax incentives that Puerto Rico provides to cryptocurrency investors. This move comes as part of a broader effort to reform taxation in the cryptocurrency sector, which has faced scrutiny in recent years due to issues related to revenue loss and economic inequality.

French Tax Authorities Embrace AI to Combat Tax Fraud

2 months ago

In a bold move to enhance its tax collection and ensure compliance, France has introduced cutting-edge artificial intelligence technologies to detect and combat tax fraud. This initiative comes as part of a broader effort to modernize its tax system, streamlining processes and tackling the increasing complexities within financial regulations.

Federal Office Disbanded: Impact on Free Online Tax Filing Services Revealed

3 months ago

A significant change has shaken up the landscape of free online tax filing as the federal office responsible for overseeing these services has been disbanded. The Internal Revenue Service (IRS) has made this move, raising concerns about the future of affordable tax filing options for millions of Americans.

Venture Capitalists Mobilize to Protect Carried Interest Tax Break Amid Legislative Challenges

4 months ago

In a significant turn of events, venture capitalists (VCs) are intensifying their efforts to preserve the carried interest tax break, facing looming legislative hurdles that threaten this long-standing tax advantage. The carried interest provision allows fund managers to pay capital gains tax rates on a portion of their earnings rather than ordinary income tax rates, which can be substantially higher. This provision has enabled VCs to funnel billions into startups and other investments, promoting economic growth and innovation.

France Stains Relations with Digital Tax Plan, Ignoring Retaliation Risks

4 months ago

France has firmly declared its intention to proceed with its controversial digital tax, despite facing potential retaliation from other countries, particularly the United States. The decision underscores Paris’s commitment to taxing large technology firms that have thrived amid the digital economy, often without contributing sufficiently to the tax revenues of the countries in which they operate.