Scope: Canada
Proposed
Government launches consultation on draft legislative proposals for previously announced and technical tax measures
The Canadian government has issued draft legislative proposals covering multiple tax changes from Budget 2025 and earlier, including amendments to the Income Tax Act to expand anti-avoidance rules, winding-down of Canada Carbon Rebate payments after October 30, 2026, immediate expensing for manufacturing/processing buildings used before 2030, technical amendments to the Clean Hydrogen and CCUS investment tax credits, and clarifications on global minimum tax rules.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 29, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Consultation on draft legislative proposals to implement certain tax measures announced in Budget 2025 or earlier
Released draft legislation for measures including immediate expensing for manufacturing/processing buildings, technical amendments to hydrogen, CCUS and global minimum tax, qualified registered plan investments, reporting by non-profits, tax avoidance rules (hybrid mismatch), eligible exploration activities. Feedback invited before proposals become law.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 29, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Government launches consultation on draft legislation for previously announced and technical tax measures
On January 29, 2026, draft legislative proposals were released to implement a suite of tax changes (Budget 2025 and earlier): qualified investments for registered plans; expanding anti-avoidance trust-to-trust rules; winding down Canada Carbon Rebate payments after October 2026; immediate expensing for manufacturing/processing buildings; clarifications to Canadian exploration expense; global minimum tax technical amendments; others.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 29, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
IRS Issues FAQs on Executive Order 14247: Modernizing Payments To and From America’s Bank Account
Executive Order 14247 requires that federal payments to individuals, businesses, nonprofits, and governments, and payments made to the federal government (taxes, penalties, fees) transition to electronic means. The IRS has issued Fact Sheet 2026-02 (IR-2026-13) with FAQs to help taxpayers and businesses understand the changes beginning with the 2026 filing season. Limited exceptions apply (e.g. hardship). Use of direct deposit and electronic payment systems such as IRS Direct Pay or EFTPS is strongly encouraged and increasingly required.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 27, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
The new Canada Groceries and Essentials Benefit
A proposal to create a new **Canada Groceries and Essentials Benefit** (formerly the GST/HST Credit) to provide increased support for low- and modest-income Canadians. Measures include a **one-time top-up payment** in spring 2026 equal to 50 % of the 2025-26 value of the GST Credit, and ongoing increased payments of **25 % starting July 2026**, lasting five years, subject to Royal Assent. This would provide immediate relief as well as longer-term assistance. 🇨🇦
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 26, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
IRS opens 2026 filing season
IRS began accepting and processing individual federal income tax returns for tax year 2025. Refunds for the Earned Income Tax Credit and Additional Child Tax Credit will generally be available by March 2, 2026, for those choosing direct deposit and with error-free returns. Also continues urging electronic filing and direct deposit as the fastest methods, in light of ongoing phase-out of paper refund checks. Implications: taxpayers should prepare early, ensure eligibility for tax credits, choose direct deposit, avoid errors.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 26, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Treasury, IRS issue FAQs to address the new deduction for qualified overtime compensation under the One, Big, Beautiful Bill
The FAQs clarify the new deduction introduced by OBBB for qualified overtime compensation — i.e. the portion of overtime pay mandated by the Fair Labor Standards Act that exceeds the regular rate. The guidance specifies eligibility, how to calculate the deduction (including methods when employers have not separately reported). It also explains the deduction limit ($12,500 per individual; $25,000 married filing jointly), MAGI thresholds, and allowable documentation for 2025 tax year. Provides relief for employers lacking separate reporting in 2025. These FAQs are effective as of publication, apply to 2025-2028 tax years.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 23, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Revenue Procedure 2026-8: Updated Procedures for Group Exemption Letter Program
Final IRS revenue procedure revising rules for group exemption letters under §501(c). Key changes include new affiliation, supervision, and control requirements; effective dates when subordinate organizations gain exemption (notably backdated for subordinates added within 27 months of formation); and a transition deadline of January 22, 2027 for compliance by preexisting group exemption letters. This affects nonprofits that include subordinate chapters or units under a central organization.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 22, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
IRS issues updated group exemption procedures under Rev. Proc. 2026-8
Revenue Procedure 2026-8 updates procedures for entities under Section 501(c) to obtain and maintain group exemption letters, defining affiliation, supervision, control; requiring annual supplemental group ruling information (SGRI); resumes acceptance of applications after moratorium; transition period through January 22, 2027.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 20, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Notice of Issuance of Revenue Procedure 2026-8 Regarding Group Exemption Letter Program
Finalized Revenue Procedure 2026-8 updates rules governing group exemption letters for central and subordinate organizations under IRC §501(c). Key changes include requiring a central organization to have at least five subordinate organizations, written authorizations that subordinate entities may be removed (with or without cause), timeline rules applying a 27-month formation window for retroactive exemption, exclusion of foreign and §501(c)(29) organizations, and transition period ending January 22 2027 for compliance. Failure to meet requirements may result in loss or termination of group exemption letters.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 20, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Revenue Procedure 2026-8 — IRS Group Exemption Letter Program Requirements
Rev. Proc. 2026-8 updates requirements for obtaining and maintaining a group exemption letter under § 501(c), including new rules on subordinate organization formation dates, authorizations, supervision/control standards, and a transition period for preexisting organization networks.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 20, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Entities Wholly Owned by Indian Tribal Governments
Final regulations under the Internal Revenue Code clarifying that entities wholly owned by Tribal governments and organized under Tribal laws are **not recognized as separate entities** for federal income tax purposes; but are recognized separately for certain Federal employment and excise tax obligations.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 15, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
T.D. 10039: Final Regulations on Classification of Entities Wholly Owned by Indian Tribal Governments
Treasury Decision 10039 provides final regs effective January 15, 2026, that entities wholly owned by one or more Indian Tribal governments and organized under tribal law generally are **not recognized as separate entities** for income tax purposes. They are, however, recognized separately for employment and excise tax, and treated as instrumentalities for section 6417 elective payment elections (e.g. energy credits). This affects how tribal enterprises file and structure tax obligations and credit elections.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 15, 2026
- Verification
- Not recorded
Open cited source
Scope: Brazil
Status requires verification
Lei Complementar nº 225, de 8 de janeiro de 2026 – Devedor Contumaz
Lei Complementar 225 institui o regime do Devedor Contumaz que qualifica legalmente pessoas jurídicas que acumulam inadimplência tributária substancial, reiterada e injustificada. Estabelece critérios objetivos (valor mínimo, reiteração, ausência de justificativa), obriga notificação prévia, garante prazo para defesa ou regularização, e impõe sanções como impedimento de benefícios fiscais, licitações, vínculos com Administração Pública e alterações no contencioso administrativo (recursos voluntários julgados pela DRJ-R para casos definitivos).
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 8, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
IRS issues proposed regulations reflecting changes from the One, Big, Beautiful Bill to the threshold for backup withholding on certain payments made through third parties (IR-2026-03)
These proposed regulations revise rules under the One, Big, Beautiful Bill (OBBB) to increase the threshold for when third-party settlement organizations must apply backup withholding. Under the update, backup withholding applies only when a payee exceeds **both**: (1) more than **$20,000** in payments through third-party payment networks and (2) more than **200** reportable transactions in a year. This replaces the much lower $600 payment threshold. The regulations are proposed and open for public comment.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 8, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Proposed
IRS Issues Proposed Regulations for TPSO Backup Withholding & 1099-K Reporting Thresholds Under OBBB
Proposed regulations issued by Treasury and IRS in January 2026 revise when third-party settlement organizations are required to perform backup withholding and file Form 1099-K. Under the new rule, both gross payments over **$20,000** and more than **200 transactions** to a payee in a calendar year are needed to trigger reporting. This replaces lower thresholds under prior law and impacts platforms and sellers alike.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 8, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Treasury, IRS issue proposed regulations reflecting changes from the One, Big, Beautiful Bill to the threshold for backup withholding on certain payments made through third parties
Proposed regulations (IR-2026-03) revise the threshold for backup withholding and reporting through third-party settlement organizations: backup withholding applies only when a payee’s gross payments exceed $20,000 and number of transactions exceed 200—supplants lower thresholds; income remains taxable even if reporting not triggered; comment period open.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 8, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Notice 2026-3: Relief from Additions to Tax under Sections 6654 and 6655 for Underpayment of Estimated Income Tax by Taxpayers Making an Election under Section 1062
This Notice provides that taxpayers who make a valid section 1062 election (for gains from sale or exchange of qualified farmland property) may exclude 75% of the applicable net tax liability from estimated tax payments in the taxable year of the transaction, avoiding additions to tax under IRC §§ 6654/6655. Only 25% must be paid by the due date for that year. Taxpayers who already reported penalties may seek abatement using Form 843 “pursuant to Notice 2026-3.”
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 5, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Treasury, IRS allow States to make an Advance Election to participate in the new federal tax credit for individual contributions to Scholarship Granting Organizations under the One, Big, Beautiful Bill
Revenue Procedure 2026-6 allows States to opt in early (‘covered states’) for the upcoming 2027 credit under section 25F, for individual contributions to Scholarship Granting Organizations; States must submit Advance Election by Form 15714 in first half of 2026 to participate.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 5, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Automatic Federal Benefits for the 2026 tax year will provide pre-filled tax returns starting in spring 2027
Budget 2025 and its implementing legislation set in motion an initiative to automatically file tax returns for eligible low-income individuals—meaning CRA will prepare pre-filled returns, and in some cases file on behalf of those who do not owe taxes. This measure aims to reach up to 5.5 million low-income Canadians by tax year 2028. Implications include reduced burden for non-filers, improved benefits take-up (GST/HST credit, child benefits), and need for updated contact/CRA records to ensure accurate data.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source