Direct Taxes

The “soft landing” is over. IRS Notice 2026-15 introduces the MACR formula, a binary test for green energy credits that disallows 100% of the credit for PFE violations.

The ATO is processing the final weeks of the 16% tax rate. The Australia Stage 3 Revisions 2026 are currently a “palliative” before the permanent 15% cut arrives on July 1.

The transition is holding. The UK MTD 2026 Golden Month concluded today with high traffic but stable APIs, moving the UK closer to a fully digital tax system.

Retirees win big in 2026. The IRS confirms the OBBBA Senior Deduction 2026 bonus is shielding millions from inflation, removing 1.8M Americans from federal tax rolls entirely.

The taxman is now in every pocket. Kenya’s eTIMS Expansion 2026 integrates mobile money with digital invoicing, making eTIMS mandatory for the informal sector.

The “fixtures” loophole is closing. Australia’s Foreign Resident CGT 2026 regime is expanding to capture infrastructure and resource rights, with a major discount for green energy.

The digital bridge is built. HMRC’s May 7 technical update for UK MTD ITSA 2026 provides the final API roadmap for sole traders and landlords with income over £50,000.

The “once-a-year” audit risk is over. The IRS AI Audit Selection 2026 now evaluates tax returns six times annually using AI to match third-party data and lifestyle indicators.

One month in, and the digital shift is holding. UK MTD Income Tax 2026 has seen a massive 85% adoption rate among high-earning sole traders ahead of the August deadline.

From theory to enforcement: the IRS is now monitoring the OBBBA’s permanent telehealth and expanded HSA provisions, providing millions with new tax-free savings options.