Tax Updates

Learn how the District of Columbia enacted emergency legislation to decouple from key tax provisions in the One Big Beautiful Bill Act, aiming to curb significant revenue losses and address administrative challenges.

Discover how co-sourcing with BDO helped a global medical device manufacturer streamline complex tax operations, overcome resource constraints, and achieve a successful year-end close.

Seattle voters passed Proposition 2, raising B&O tax rates and the no-tax-due threshold for businesses under $2M revenue. New rates apply from Jan. 1, 2026, with reductions set for 2033.

The House approved two bills by voice vote on December 1 that would reform Tax Court procedures and clarify the requirements for the IRS to assess penalties.

Lawmakers are negotiating ACA premium tax credits ahead of a Senate vote next week. If no bipartisan deal is reached, each party may offer its own healthcare bill for dueling votes. Talks remain complex and ongoing.

The U.S. and OECD are close to a deal exempting U.S. multinationals from key Pillar Two rules. The agreement would create a side-by-side safe harbor, simplify compliance, and ensure parity for U.S. R&D credits.

Treasury's final regs (TD 10037) on the excise tax for corporate stock buybacks remove the funding rule and add a carveout for take-private deals, making key changes from the proposed rules.

Initially intended for companies developing alternative energy assets, energy tax credits became available to any business after the enactment of the Inflation Reduction Act (IRA) and subsequent regulations created opportunities for businesses to lower their federal tax liability by buying and selling energy tax credits in a credit transfer market. Now these credits are an essential part of many businesses' tax strategies.

Discover how wealth holders can prepare for the evolving landscape of charitable giving, including new strategies and considerations for future philanthropy. Click to learn more.

Learn about California's new campaign to boost compliance with its unclaimed property program, featuring a voluntary compliance initiative that waives interest penalties and offers a structured path for organizations to address overdue property.

Discover insights from BDO's 2025 BDO 600 study, highlighting trends in board composition, executive compensation, and governance practices among leading U.S. public companies.

Starting Nov. 1, 2025, new tariffs apply: 25% on medium/heavy-duty vehicles and key parts, 10% on buses. These Section 232 duties support national security and domestic manufacturing, and are in addition to existing fees.

Explore essential tips and strategies for year-end tax planning in 2025, designed to help individuals prepare for changing tax laws and financial goals. Click to learn more.

President Trump signed a bill reopening the government on Nov. 12, 2025, ending a 43-day shutdown. The shutdown focused on ACA credits. A Senate compromise led to passage with bipartisan support.

IRS Notice 2025-62 offers penalty relief for employers failing to report tips and overtime pay for 2025 under OBBBA. Employers may still face employee pressure for info needed to claim deductions.

Learn how organizations can address state tax risks while maintaining value, with practical strategies for navigating complex tax environments. Click to read more.

As 2025 ends, employers must ensure fringe benefits are included in taxable wages for employees and 2% S corp shareholders. Annual valuation and timely reporting on Form W-2/1099 are required to avoid penalties.

Thrive in a changing tax landscape. Download our 2025 Year-End Tax Planning Guides for public and private companies and discover practical strategies for managing your tax liability and cash flow.

H.R. 998, sent to the president, adds new notice requirements and restrictions on IRS math error authority. IRS must update abatement procedures and give more detailed math error notices.

IRS warns of refund delays during the shutdown. Only error-free, e-filed Form 1040 refunds will be processed. Corporate business return refunds filed before Oct. 15 may face long delays as the backlog grows.