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  • Corporate Tax Disclosures Let Investors Peer Into the Black Box

    Corporate Tax Disclosures Let Investors Peer Into the Black Box
    2026/04/15
    Investors are getting a lot more information about an area that’s been a mystery in the past: What goes into companies’ tax bills. The US, the European Union, and Australia all have new or forthcoming requirements for companies to publicly disclose more details about the makeup of their tax payments—especially where they’re paying. That can help investors compare companies and shed light on instances where multinationals might be locating their profits in lower-tax countries to cut their payments. The new requirements are already forcing companies like Meta Platforms Inc., Merck & Co. Inc., and Caterpillar Inc. to disclose that they’re making big tax payments in countries like Ireland and Switzerland that have long had a reputation as “tax havens.” Meta paid Ireland $567 million in income taxes last year, according to its first-ever disclosures as part of new US accounting requirements. Still, the different regions' rules differ significantly—in some ways they complement each other, but gaps in information remain. On this week's Talking Tax, Bloomberg Tax reporters Jorja Siemons and Michael Rapoport discuss the new sets of rules, how the new disclosures will play out, and how companies are responding to them and in some cases trying to get around them. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
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    12 分
  • Accounting Firms Navigate Compensation as AI Tools Upend Work

    Accounting Firms Navigate Compensation as AI Tools Upend Work
    2026/04/08
    Artificial intelligence is putting accounting firm leaders on alert for workers well-versed in using and managing the new tools as the industry invests heavily in modernizing workflows. Firms should be staying attuned to the talent market and updating their salary structures accordingly to both attract early-career workers and retain staff looking to climb the ranks, according to Dominic Piscopo, founder of compensation data analytics firm Big 4 Transparency. They should also be having transparent conversations with their workers so compensation isn't a "black box." "Having transparency in those models and being willing to talk about it with people—not just have this very kind of cold process where a number is thrown out—can make all the difference, even if the number is exactly the same," Piscopo told Bloomberg Tax. Big Four accounting firms—EY, Deloitte, PwC, and KPMG—have started equipping staff with AI tools that promise increased efficiency and improved workflows. The new tech is prompting the industry at large to examine its workforce strategies and pricing models to stay competitive and attract talent. In this week's Talking Tax, Piscopo sat down with Bloomberg Tax reporter Jorja Siemons to discuss how firms and workers alike can navigate the current talent market. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
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    16 分
  • IRS Pivots to Fill Holes in Tax Filing Season After DOGE Cuts

    IRS Pivots to Fill Holes in Tax Filing Season After DOGE Cuts
    2026/04/01
    Time is running out to file your taxes to the IRS as the April 15 deadline approaches. But for the IRS, the work is only just beginning and it's off to a rocky start. Elon Musk's Department Government Efficiency in 2025 pressured about a quarter of the IRS's workforce to leave, and the agency is on its seventh leader in the span of a little over a year. The agency also managed during one of the longest shutdowns in US history and a presidential-mandated hiring freeze. That meant the IRS had to change direction for the 2026 filing season. IRS workers from the human resources and technology divisions were told they'd be helping out process tax returns—an unusual move for the agency. Customer service workers at the start of the season weren't fully trained and critical tax season tech also wasn't ready. Bloomberg Tax's Erin Schilling and Erin Slowey spoke with David Schultz about the implications of the decisions of DOGE and what that means for taxpayers. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
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    13 分
  • How Tax Administration Reforms Could Pass Congress This Year

    How Tax Administration Reforms Could Pass Congress This Year
    2026/03/25
    Lawmakers in both chambers of Congress are taking a closer look at a range of bipartisan IRS administration changes. House tax writers have advanced several pieces of legislation that would fix problems identified by taxpayer advocates and tax professionals. Some have become law. Senate Finance Committee lawmakers, meanwhile, recently introduced a large package that includes dozens of provisions that include digitizing more paper returns, providing more online information about refunds, and enhancing standards for tax return preparers. The interest in tax administration suggests there's a willingness among tax writers to try to take action—the key question is how. The two chambers' different approaches show an emerging disagreement over strategy. On this episode of Talking Tax, host David Schultz talks to Bloomberg Tax reporter Chris Cioffi about how a tax administration legislation has been taking shape, as well as the path forward in Congress. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
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    11 分
  • Washington's Novel Millionaires Tax Inches Closer to Reality

    Washington's Novel Millionaires Tax Inches Closer to Reality
    2026/03/18
    States are struggling to make up for revenue gaps in the wake of federal cuts and President Donald Trump's tax-and-spending law. In Washington state, lawmakers have answered the challenge with a novel tax on millionaires. The legislature recently sent a bill (S.B. 6346) to Gov. Bob Ferguson (D) that would create the state's first income tax. If Ferguson signs it, which he is expected to do, individuals and households in Washington making more than $1 million a year will be subject to a 9.9% income tax. But things won't change in Washington right away. The tax will likely be challenged both in court and at the ballot box, where 10 previous attempts at an income tax have failed. Proponents of the bill say the measure helps correct the state's regressive tax structure that is heavily reliant on sales tax, while opponents say the tax will make the state less competitive. On this episode of Talking Tax, Correspondent Casey Murray discusses the politics and long path ahead for the tax. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
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    10 分
  • Tax Filing Season Is Underway: Here's How It's Going So Far

    Tax Filing Season Is Underway: Here's How It's Going So Far
    2026/03/11
    There are about five weeks left in tax filing season — the busiest time of year for the IRS and tax preparers. IRS CEO Frank Bisignano told lawmakers earlier this month the tax season has so far been a success, with quick refund turnaround times and a shrinking backlog. That is despite a tumultuous 2025 for the agency, when the IRS lost about a quarter of its workforce to resignation offers, began implementing the GOP's new tax-and-spending law, and managed the fallout of the longest government shutdown in US history. Tom O'Saben, director of tax content and government relations at the National Association of Tax Professionals, said tax preparers also aren't hearing a ton of complaints from clients either. On this episode of Talking Tax, O'Saben joined Bloomberg Tax reporter Erin Slowey to discuss how filing season is going, the impact of changes from the 2025 law, and what to do if you don't have the money to pay taxes by the deadline. "Don't put your head in the sand and say 'I know I am going to owe so I am just not going to file,'" O'Saben said. "That's a bad idea." Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
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    17 分
  • States Still Decoupling From GOP Tax Law Deep Into Filing Season

    States Still Decoupling From GOP Tax Law Deep Into Filing Season
    2026/03/04
    Tax-filing season is well underway, and yet many states are still figuring out whether to conform to or decouple from provisions in last year's GOP-led tax overhaul, especially the deductions and other breaks for corporate taxpayers. The upshot is one of the more complicated filing periods in recent years. Corporate taxpayers are watching which states reject federal tax policy changes, such as those related to immediate expensing for research and development or property investments. Just in the past week, lawmakers in Republican-controlled states like Florida and Democrat-led states like Oregon moved ahead in decoupling from some of those corporate tax provisions to preserve billions of dollars in state revenue. Then there's the unique situation in Washington, DC, where a local law severing the city's tax code from more than a dozen provisions in the 2025 federal tax rewrite was met with Congress's formal disapproval. That set off a dispute between Capitol Hill and city leaders over whether the district's decoupling measure is in effect. (DC officials say it is.) Most of all, corporate taxpayers are looking for clarity from the states as they plan their filings, Scott Roberti, a managing director focusing on state and local tax in EY's national tax practice, says on this week's episode of Talking Tax. Roberti tells Bloomberg Tax editor Benjamin Freed that so far, at least 17 states have issued some sort of guidance on the conformity issue. Roberti hopes the remainder finish up soon in time for the end of filing season and quarter-end accounting. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
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    13 分
  • Tariff Refunds Would Threaten Tax, Transfer Pricing Headaches

    Tariff Refunds Would Threaten Tax, Transfer Pricing Headaches
    2026/02/25
    The Supreme Court's decision to nix a wide swath of the Trump administration's tariffs comes with some big tax and transfer pricing questions for tax executives as companies battle to collect refunds from the government. The court's 6-3 ruling sets up what would be a messy refund process, though the justices basically said nothing about it, leaving companies to take their claims to court. If the refunds come in, businesses will have to figure out how to apportion funds across subsidiaries —sometimes across borders — without breaking transfer pricing rules, which govern the pricing of affiliate transactions and ultimately determine where taxes are owed. The rules say related-party transfers must be priced as though they were done at arm’s length, in the open marketplace. Companies that don't do it right risk a tax agency audit. On this episode of Talking Tax, Bloomberg Tax transfer pricing reporter Caleb Harshberger discusses the sticky tax and transfer pricing issues surrounding tariffs and the possibility of refunds. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
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    12 分