For those who are fortunate enough to accumulate wealth, passing it along to future generations and donating it to charitable causes are important and laudable financial goals. However, you face a unique set of planning considerations if a large portion of your wealth comes from stock compensation: stock options, restricted stock, restricted stock units (RSUs), ESPPs, other types of equity awards, and holdings of company shares. A recent myStockOptions.com webinar that I moderated featured a trio of experts in this complex planning niche. In this article, I present some of the knowledge and insights they shared. Tax-law changes may be…

In moves to protect businesses located in the UK, there have been a number of recent changes to ensure that the UK taxes due from overseas sellers selling into the UK are being collected. 1. Overview The complexities of the UK’s indirect tax landscape can be challenging for overseas businesses to navigate when starting to sell here for the first time, especially for those selling to consumers. For those importing goods they will need to consider Customs Duty and sellers of both goods and services will need to consider VAT too. VAT and Customs Duty are referred to as indirect…

In this episode of Tax Notes Talk, Tax Notes chief correspondent Stephanie Soong discusses how the Trump administration’s tax priorities have been shaping negotiations on the OECD’s two-pillar project. Tax Notes Talk is a podcast produced by Tax Notes. This transcript has been edited for clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: OECD update — pillars, tariffs, and the path forward. When President Trump first took office back in January, he announced that the U.S. would be pulling out of the OECD’s international corporate tax reform…

The House Ways and Means Committee released additional information regarding their proposed tax bill, named “The One, Big, Beautiful Bill”, which includes needed modifications to the requirement that research and experimental (“R&E”) expenditures be capitalized. While domestic R&E expenditures were provided relief, no favorable adjustments were provided to foreign R&E. The House bill provides domestic R&E can be fully deductible for expenditures paid or incurred in taxable year beginning after December, 31, 2024. However, the ability to immediately expense R&E capitalized assets for taxable years beginning after December 31, 2021 and before January 1, 2024 is not provided . In…

The Child Tax Credit (CTC) delivers substantial benefits to families with children—but the credit’s design means that 17 million children (about 1 in 4) live in families who miss out on the full CTC benefit because the parents—most of whom work—do not earn enough. At the end of this year, along with a host of other Tax Cuts and Jobs Act of 2017 (TCJA) individual income tax changes scheduled to expire, the maximum credit will fall from $2,000 per child to $1,000 per child under age 17. Congress could extend the $2,000 benefit and other aspects of the current CTC…

To read this article with full citations, please visit taxnotes.com President Trump’s musings about Harvard University possibly losing its tax-exempt status for failing to adhere to public policy crystallized May 2 into what appears to be an actual plan to revoke the school’s exemption. The move highlights a long-standing problem that the IRS and Congress should have remedied long ago. For more than five decades the IRS has effectively dangled the threat of revocation over the heads of tax-exempt entities like the proverbial sword of Damocles, claiming extremely broad authority to revoke their status. The IRS has apparently never disclaimed…

According to a new Tax Policy Center analysis, the House Republicans’ March 9 draft of a major 2025 revenue bill would cut taxes on average by about $2,800 in 2026, compared to what households would pay if the individual and some business provisions of the Tax Cuts and Jobs Act (TCJA) expire or become less generous as scheduled at the end of this year. TPC analyzed a preliminary, incomplete draft of the tax portion of what will become the year’s major budget bill. It found that, on average, all income groups would benefit from the tax proposals. However, more than…

The U.S. and China have reached an agreement to stave off their unusually high import tariffs on each other’s countries. Stock markets have positively responded to the news. While the reduction in tariffs likely diminishes the direct impacts on companies, the greatest positive effect leading to the stock market rise may be on the lower uncertainty that these companies now face as they head into the next phase of this ongoing trade war. On May 11, 2025, President Donald Trump announced on X via The White House account that a trade deal with China had been reached. While the details…

Artificial intelligence tools such as ChatGPT and Grok are becoming household fixtures with Americans increasingly turning to them. These tools are being used to find answers on everything from cooking recipes to complicated tax questions. How reliable is AI for taxpayers seeking tax advice, particularly on U.S. international tax issues? While AI has laudable capabilities and provides great speed in its responses, the reality is that currently in the U.S. international tax area (indeed, in the tax area generally), AI often delivers inaccurate or incomplete information. Since U.S. international taxation is such a highly specialized field, AI can leave users…

When I was younger, I spent an entire summer with my great-grandmother (who famously–and presciently–told me that I sounded just like a Philadelphia lawyer). Her house was in Greenville, S.C., a town my 12-year-old self would have described as a bit sleepy. What a difference a few decades make. This year, that Greenville made Forbes’ list of Best Places To Retire alongside 24 other cities like Athens, Georgia, and Apache Junction, Arizona. To assemble the list, Forbes compared more than 950 locales in America with populations above 10,000 on everything from housing costs to healthcare, air quality, crime and climate…