Regulatory Analysis
The IRS has released final rules in the federal register for reporting of tips made tax-exempt by 2025’s One Big Beautiful Bill. These rules provide direction on what tip compensation qualifies for the exemption and how to report the compensation to payees. Briefly, tip compensation is subject to the exemption if it is paid for […]
The IRS has released draft regulations implementing the information reporting threshold changes under the One Big Beautiful Bill Act (OBBBA). The OBBBA raised the general reporting threshold for Forms 1099-MISC, 1099-NEC, W-2, and W-2G from $600 to $2,000, effective for payments made after December 31, 2025, with annual inflation adjustments beginning in 2027. The draft […]
On April 30, 2026, Brazil published the core regulations governing the IBS and the CBS through CGIBS Resolution No. 6/2026, Decree No. 12,955/2026, and Joint Ordinance MF/CGIBS No. 7/2026. These instruments establish the foundational operational rules for the new taxes and further detail their implementation within the broader framework of Brazil’s Tax Reform. Of particular […]
As of April 24, 2026, all fuel and diesel sales transactions must include a special complement in their electronic invoices (CFDI). This complement is called the Concept Complement for the Invoicing of Hydrocarbons and Petroleum Products. What do I need to do? Add the complement to your invoice. Every CFDI you issue for the sale […]
Colorado imposes a Daily Vehicle Rental Fee on motor vehicle rentals 30 days or less and certain car sharing rentals. The rate may adjust for inflation each year. For the period of July 2026 to June 2027, the fee amount will increase to $5.34 from $5.57. Further information concerning the fee may be found here.
South African Revenue Service (SARS) has enacted the Tax Administration Laws Amendment Act, 2026 (Act No. 4 of 2026), published on 1 April 2026 in Government Gazette No. 54447, introducing a formal legal foundation for e-invoicing and e-reporting under the Value-Added Tax Act No. 89 of 1991, but without making this mandatory (at this stage). […]
On 17 April 2026, the Spanish Tax Authority (AEAT) published for public consultation the draft Ministerial Order regulating the AEAT-operated public e-invoicing solution. The consultation period closes on 8 May 2026. The Order, once finalised and published in the Official State Gazette (BOE), is planned to enter into force on 1 October 2026, at which […]
Alabama has enacted HB 527, establishing a food sales tax holiday from May 1 through June 30, 2026. During this period, qualifying food items will be exempt from Alabama state sales tax. Eligible items are defined as those that qualify for purchase under the Supplemental Nutrition Assistance Program (SNAP). The full text of HB 527 […]
The Slovak Ministry of Finance has published updated instructions for completing the Insurance Premium Tax (IPT) return, effective 1 January 2026. The update introduces a new disclosure requirement for taxpayers applying the transitional tax rates under Article 13a of the IPT Act. Taxpayers who apply the 8% rate only, or both the 8% and 10% […]
Chile’s tax authority has delayed the implementation of new requirements for dispatch guides and invoices used in the transfer of goods. On April 10, the Servicio de Impuestos Internos (SII) published Exempt Resolution No. 52, officially postponing the effective date of these additional requirements. Originally expected to take effect earlier, the new compliance deadline is […]
Indiana Senate Bill 243 (SB 0243), signed into law on March 5, 2026, amends several sections of the Indiana Code concerning taxation. Key provisions include new penny rounding rules, new adjusted gross income deductions, and increased gambling withholding thresholds. The bill introduces a penny phaseout rounding framework under two new code provisions. IC 5-36.5, effective […]
The IRS has released its revised Publication 1099 (General Instructions for Certain Information Returns). This publication provides comprehensive guidance for filing Forms 1096, 1097, 1098, 1099, 3921, 3922, 5498, and W-2G with the IRS and furnishing statements to recipients. Most notably, the IRS has retired the Filing Information Returns Electronically (FIRE) system. Beginning tax year […]
The Washington legislature recently enacted Senate Bill 6346 imposing several changes to the sales tax law. Last October, Washington imposed sales tax on custom software, live presentations and a wide range of new services. The new law modifies and clarifies the scope of these services beginning July 1. Specifically, SB 6346: Expands the existing exemption […]
ProductCare, the recycling organization in charge of processing environmental handling fees (EHFs) on household waste products in several Canadian provinces, issued a notice recently that there will be a temporary pause on collecting EHFs in the provinces of Manitoba and Saskatchewan. Members are required to continue reporting, but as a $0 fee. See notice here. […]
SD HB 1245, effective July 1, 2026, allows municipalities to impose a temporary sales tax not exceeding 1% to assist with funding capital improvement projects. Any ordinance must be approved by voters before implementation. More information may be found here.
Effective July 1, 2026, SD HB 1254, allows a sales tax exemption for soil amendments if used in agriculture and 500 pounds or more are sold in a single sale.More information may be found here.
Effective July 1, 2026, SD SB 96, allows counties to enact a 0.5% sales tax pending approval by voters. If approved, the county sales tax revenue is dedicated to assist in reducing county property taxes.More information may be found here.
South Dakota (SD) SB 245, signed by the governor on March 12, 2026, captures revenue from the scheduled state sales tax increase (4.2% to 4.5% in July 2027) and dedicates it to a homeowner property tax reduction fund to help alleviate local property taxes.More information may be found here.