IBFD Knowledge Hub
Tax Insights and News at Your Fingertips
Check out our latest updates, reports and more from our team of tax experts
Welcome to the IBFD Knowledge Hub. Here, you have free access to a selection of tax articles written by the IBFD Knowledge Centre - our department of tax experts. In these articles, we cover current tax topics - tapping into tax trends and global conversation.
The IBFD Knowledge Hub is divided into 'Tax News' and 'Tax Insights', to help you find the tax updates you're looking for. Stay in the loop and browse them now.
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Biden Signs Federal Disaster Tax Relief Act of 2023 and VETT Act to Provide Targeted Tax Relief for Disaster Victims and Veterans
President Joe Biden (D) has signed two significant tax relief measures aimed at supporting disaster victims and veterans. The Federal Disaster Tax Relief Act of 2023 ( H.R. 5863) will provide tax relief to
3 minutes
The 15% Corporate AMT: What You Need to Know
What is the Corporate Alternative Minimum Tax? The Inflation Reduction Act (IRA) of 2022 created the Corporate Alternative Minimum Tax (CAMT), which imposes a 15% minimum tax on the adjusted financial statement
6 minutes
What is a Tax Treaty Benefit and how can it help you?
What do US income tax treaties do? The United States (US) has income tax treaties with a number of foreign countries. An income tax treaty between the US and a particular foreign country can lower, or even
6 minutes
Inflation Reduction Act's Clean Energy Tax Credits: What the IRA Hopes to Accomplish
Clean Energy Tax Credits get a boost in new Climate Law In response to the escalating climate crisis, the Inflation Reduction Act has introduced substantial reforms to clean energy tax credits. These reforms
4 minutes
New Reporting Requirement for Beneficial Ownership Information: What You Need to Know
What is the beneficial ownership information reporting Requirement? Effective January 1, 2024, the Corporate Transparency Act (CTA) mandates that many US companies must disclose their beneficial owners, meaning
5 minutes
The Economic Nexus Revolution: Navigating the Wayfair Era for Remote Sellers and Marketplace Facilitators
The advancement of our modern world, and the emergence of the digital age, brought about increased occurrences of untaxed online sales and with it a pressing need to re-evaluate US state sales tax nexus laws
6 minutes
What You Need to Know About the Hydrogen Tax Credit
The hydrogen production tax credit, established under the Inflation Reduction Act ( PL 117-169), represents a significant step toward reducing dependence on fossil fuels and supporting the shift towards
5 minutes
A Guide to Understanding Indirect and Direct Taxes
Difference between direct and indirect tax John Stuart Mill gave the following definition: “A direct tax is one which is demanded from the very persons who it is intended or desired should pay it. Indirect
5 minutes
A Beginner's Guide to Cryptocurrency Tax
How is crypto taxed and do you pay taxes on Bitcoin? Yes, you absolutely do pay taxes on Bitcoin and other digital assets. For federal income tax purposes, the IRS treats crypto as a capital asset, not currency
6 minutes
IRS Issues Proposed Regulations on Previously Taxed Earnings and Profits
The IRS has issued proposed regulations on corporate treatment of previously taxed earnings and profits (PTEP) from foreign corporations and related basis adjustments, consequently preventing double taxation of
2 minutes
Optimizing Tax Efficiency: Ins and Outs of Foreign Tax Credits
Foreign Tax Credits reduce International Double Taxation The United States taxes its citizens, residents, and domestic corporations on their worldwide income. The U.S. relieves international double taxation by
8 minutes
VAT Explained: A Comprehensive Guide to Value Added Tax for Suppliers of Goods & Services
Value Added Tax vs Goods and Services Tax Value Added Tax (VAT) and Goods & Services Tax (GST) are both consumption taxes applied at various stages of production and distribution. These taxes are calculated
7 minutes
The ABCs of Permanent Establishments: What You Need to Know
Background: Why Do Permanent Establishments Matter? Under US tax law, foreign corporations and non-resident individuals engaged in US trade or business are typically subject to US tax on income effectively
7 minutes
How the New 1% Tax on Stock Buybacks Will Affect Businesses
Stock Buybacks: The What and the Why When a company purchases shares of its own stock from the open market, it is referred to as a stock buyback or repurchase (often used interchangeably). The goal of a stock
5 minutes
