Insights & Resources

In the March 6 Internal Revenue Bulletin the IRS issued a statement on export tax for oil spills. Find out more about this notice and how taxpayers are affected.

In a recent decision, the First District Court of Appeals in Illinois held that book-out transactions are transfers of ownership of fuel and are subject to tax.

U.S. investors run a risk of diminishing returns if they do not understand how PFIC rules apply to foreign investments. Learn about the tax consequences.

The California Franchise Tax Board has granted a one-year extension for tax capital reporting conformity. Learn more about reporting capital accounts.

A number of states have updated their motor fuel tax rates and related fees effective in the first quarter of 2023.

Increased IRS funding may mean greater attention from IRS auditors to transfer pricing, which has been the target of political & public concerns over tax avoidance.

The IRS has issued guidance on new sustainable aviation fuel tax credits that take effect on January 1, 2023. The guidance, Notice 2023-06, includes the following:

Colorado's new "retail delivery fee" has proved to be a challenge for business owners, retailers and marketplace providers. Learn why.

Find out why U.S. multinationals with Australian operations can potentially be subject to double taxation based on Australia’s “hybrid mismatch rules.”

The IRS has issued guidance to taxpayers regarding claiming the alternative fuel tax credits for the first three quarters of 2022.

Pennsylvania (PA) enacted H.B. 1342, which includes corporate and personal tax changes. The bill reduces the corporate net income tax (CNIT) rate over nine years from 9.99 percent to 4.99 percent. The rates for these years are: