Canada’s digital services tax was supposed to take effect Monday morning — instead, it died in the middle of the night. After years of legislative and diplomatic buildup, economic studies and Canadian insistence that this was about fairness in taxation — not trade provocation — Ottawa scrapped the tax mere hours before collections would have begun. The sudden reversal stemmed from President Trump’s declaration that the DST policy was, in fact, a “blatant attack” on the U.S. — and his threats of curtailing trade talks unless Canada took a step back. So, in an increasingly familiar geopolitical dance, one government’s…

A version of this article originally appeared in Tax Notes Federal on June 30, 2025. The GOP budget bill is not very popular. In fact, it may be the most unpopular piece of major legislation since President Trump’s 2017 tax cut. In a slew of recent polls, opponents of the One Big Beautiful Bill Act (OBBBA) outpaced supporters by nearly 2 to 1. Partisan differences were sharp, with most Democrats opposed and most Republicans in favor. But these majorities were asymmetric: Democrats oppose the OBBBA by significantly larger margins than Republicans support it. As always, things get more complicated once…

Foreign investment in U.S. real estate is quite significant with investors being drawn because of the market’s stability, robust and reliable legal protections, and the potential for capital growth. U.S. real estate is a core wealth-building strategy for nonresident alien individuals (those who are not U.S. citizens and are not domiciled in the U.S.). Many NRA investors are caught off-guard by various aspects of the U.S. estate tax which is imposed at death on the fair market value of U.S. situs assets, such as American real estate. The maximum estate tax rate of 40% can certainly take a big chunk…

Late in the hours on Saturday, the Senate voted to advance the One Big Beautiful Bill Act, as reported by Forbes. President Trump immediately took to social media to claim victory. While impactful, this bill still has many necessary steps before Trump can sign it into law. This article discusses the current status of this bill in the legislative process and outlines the five key steps that must be taken before it can become a tax law. Just A Bill On Capitol Hill Many can recall the School House of Rock’s famous “I’m Just a Bill” episode, which features an…

July 4th is just around the corner. For most Americans, it traditionally involves flags, parades, fireworks, and if you’re lucky, some really great corn on the cob. But Republican members of Congress are hoping that it will include some additional pomp and circumstance as President Trump signs the “One Big Beautiful Bill Act” (OBBBA) into law. The President has made no secret of his desire to sign the bill on that day. There is, however, quite a bit standing in the way of making that happen–there is still a lot of work to do. The Senate has not yet passed…

In her introductory remarks to her Annual Report to Congress, Erin Collins, the National Taxpayer Advocate, touted IRS successes following the pandemic, suggesting that the most recent filing season was the “smoothest yet.” For most Americans, she notes, the annual filing season is the only time they interact with the IRS—that makes it imperative for the IRS to get it right. Collins says that IRS employees did get it right this year, collecting approximately $5 trillion in revenue, processing around 180 million income tax returns, and over five billion information forms. Most taxpayers filed their returns, paid their taxes, or…

Gallup has been polling this topic for several decades. More than half of Americans feel that they are paying too much in federal income taxes. Reducing income taxes is something everyone wants to do. If you own real estate or a small business, you have more ways to defer taxes. Most people do not own these types of investments. For those who do not, the simplest way to lower your federal income taxes over your life is by contributing to your retirement accounts. Even if you do own real estate or a business, maxing out retirement contributions is still a…

The clock is ticking towards July 4—the date President Trump insists he wants to sign the Republicans’ big tax and budget cutting bill. The House passed its version of the “One Big Beautiful Bill Act” (OBBBA) last month and Senate Republicans are hashing out their version now, with a vote possible at the end of the week. But the two Houses must pass the exact same legislation before it can head to Trump’s desk. OBBBA proposes tax and policy changes that could significantly impact how people and businesses plan, invest and grow—and importantly, it’s considered the signature legislation of Trump’s…

There are myriad ways to express displeasure with international tax policy: you can file a complaint at the Organisation for Economic Co-operation and Development (OECD), leverage a charm offensive, or, if you’re looking for a quick fix, you can slap a retaliatory tax on foreign investors, spook the market, and call it a day. The Trump administration opted for the latter—albeit briefly—with the seemingly now-defunct Section 899 provision, branded by some as the “revenge tax.” This provision, tucked into the One Big Beautiful Bill Act, levied a targeted tax meant to punish countries that impose “discriminatory” taxes on American firms…

What if reading the law required a subscription—or quoting a Treasury Regulation had copyright infringement implications? That’s the premise, promise, and peril of the so-called Pro Codes Act, H.R.4072, now before Congress under the thin policy mask of transparency and balance. At first glance, the bill reads like a reasonable compromise: it allows private organizations that develop technical standards—things like building codes, electrical codes, and potentially tax compliance protocols—to retain their copyrights even after those standards are incorporated by reference into the law. In exchange, they’re supposed to make the material “publicly accessible” online and they can’t overtly charge for…