Scope: United States
Status requires verification
Notice 2026-25: Adjusted housing expense limitations under section 911 for 2026 (and optional application to 2025)
Notice 2026-25 updates the geographic‐based housing expense limits for US citizens and residents abroad (section 911) for the taxable year beginning on or after January 1, 2026. It adjusts maximum housing expense limits in higher cost foreign locations. Importantly, taxpayers with foreign housing expenses in 2025 may elect to use the 2026 adjusted limits if higher, as provided in the notice. ([irs.gov](https://www.irs.gov/irb/2026-17_IRB?utm_source=openai))
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Notice 2026-36: Intent to issue proposed regulations addressing the tax on excessive compensation and excess parachute payments under the One, Big, Beautiful Bill
This IRS and Treasury notice expands the definition of “covered employee” under IRC §4960, such that **any employee earning over $1 million** in a tax year (beginning after December 31, 2025) may be subject to excise tax on excess compensation or parachute payments. The notice also provides that certain exceptions (limited hours, nonexempt funds) may continue to apply until final regulations are issued. Public comments are due by August 4, 2026.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Notice 2026-36: Intent to Issue Regulations Under Section 4960
This policy broadens the definition of “covered employee” under section 4960 for tax-exempt organizations (ATEOs) starting in 2026, removing the limitation to the five highest-paid employees and expanding scope to include employees employed after December 31, 2016. It also signals forthcoming regulations addressing exceptions (e.g. limited hours, nonexempt funds).
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Rev. Proc. 2026-25: Safe Harbor for Contributions to Trump Accounts Treated as Completed Gifts
Provides a safe harbor so that contributions to Trump Accounts under section 530A meeting specified conditions are considered completed gifts, qualifying for the annual per-donee gift tax exclusion, and thus easing gift tax reporting burdens for eligible taxpayers.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Home Accessibility Tax Credit cannot overlap with Medical Expense Tax Credit for same expense
Budget 2025 proposes an amendment to the Income Tax Act such that an expense claimed under the Medical Expense Tax Credit cannot also be claimed under the Home Accessibility Tax Credit. The amendment adjusts the definition of “qualifying expenditure” in section 118.041 and repeals subsection 118.041(4). This measure comes into force on **January 1, 2026**, affecting taxation years beginning from that date. It ensures that the same expense cannot be double-claimed under both credits. Implications include reviewing prior deductions and planning renovation timing and expense claims accordingly.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Notice 2026-25: Adjustments to Housing Expense Limitations for Section 911 for 2026
Updates the limitation on housing expenses under section 911 for the 2026 tax year, adjusting for geographic differences so qualified taxpayers (working abroad) can use higher allowances if applicable; since this notice supersedes previous 2025 limits, eligible remote workers may apply the updated limits to their 2025 returns where beneficial.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Tax-year 2026 annual inflation adjustments for U.S. tax provisions, including FEIE and standard deductions
The U.S. Internal Revenue Service announced increases for 2026 in more than 60 tax provisions under the “One, Big, Beautiful Bill.” Key changes include: standard deduction rise to $32,200 for married filing jointly and $16,100 for singles; the Foreign Earned Income Exclusion bumped to $132,900; updated tax rate thresholds; higher limits for AMT exemption, estate tax exclusion; enhanced employer-provided childcare tax credit.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Government announces extended tax deferral period for livestock producers affected by 2024 and 2025 bovine tuberculosis events
The government has proposed amendments to the Income Tax Act to allow livestock producers in Alberta, Saskatchewan, and Manitoba who received compensation for animals destroyed due to bovine tuberculosis in 2024-2025 to defer inclusion of that compensation income over a schedule from 2026 through 2030, rather than all in the year received. This aims to ease tax burden during herd recovery.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Tax measures: Supplementary information – Spring Economic Update 2026 – Labour Mobility Deduction enhancement & distance rule change
Under Spring Economic Update 2026, amendments to the Income Tax Act are proposed: increasing the Labour Mobility Deduction limit for tradespeople from $4,000 to $10,000 (2026 and subsequent taxation years), and modifying the distance rule so temporary lodging must be at least 120 km closer to each work location than the taxpayer’s ordinary residence. Implication: tradespersons with eligible temporary relocations gain greater deductions, easing mobility costs.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Introduction of 40% First-Year Allowance and reduction of Writing-Down Allowance rate from 18% to 14%
From 1 January 2026 a new 40% first-year allowance for qualifying main-rate plant and machinery comes into effect. From 1 April 2026 (Corporation Tax) and 6 April 2026 (Income Tax) the main rate writing-down allowance for assets not eligible for full expensing will be reduced from 18% to 14%. Affects how businesses plan capital expenditure and timing of asset acquisitions.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Spring Economic Update 2026: Tax measures – Labour Mobility Deduction for Tradespeople
As part of the Spring Economic Update 2026, the government proposes a new **Labour Mobility Deduction** for eligible tradespeople. It allows deductions for expenses incurred during temporary relocations (lodging, travel, meals) provided certain conditions are met (distance, duration, eligible trades). Effective for the 2026 tax year, this measure aims to support construction workers who frequently travel for work. ([budget.canada.ca](https://budget.canada.ca/update-miseajour/2026/report-rapport/tm-mf-en.html?utm_source=openai))
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: USA
Status requires verification
IRS Tax Inflation Adjustments for Tax Year 2026 under the One, Big, Beautiful Bill
US policy making inflation adjustments for more than 60 tax provisions in tax year 2026—including higher standard deductions, adjusted tax‐bracket thresholds, increased foreign earned income exclusion (to $132,900), and raised estate tax exclusion (to $15 million). These changes mostly affect tax returns filed in 2027. The law adjusts many credits, fringe benefits, AMT exemptions, and other limits for inflation under the One, Big, Beautiful Bill. Source: IRS Revenue Procedure 2025-32.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Enhanced Labour Mobility Deduction for Tradespeople
The Spring Economic Update 2026 increases the maximum Labour Mobility Deduction from \$4,000 to \$10,000 for eligible tradespeople in temporary relocation, lowers the required lodging distance rule to 120 km, and applies these changes for taxation years beginning in 2026.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Notice 2026-10: Optional 2026 Standard Mileage Rates and Related Tax Benefits
Notice 2026-10 published in the 2026 Internal Revenue Bulletin sets the optional standard mileage rates for business, charitable, medical, and moving expenses, provides the maximum automobile cost for fixed & variable rate plans under fleet-average valuation rules, affecting deductible cost calculation for any vehicle-related expenses.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Proposed
Electronic Furnishing of Payee Statements Regarding Digital Asset Sales by Brokers (Notice 2026-4 / REG-105064-25)
This proposed IRS regulation would allow brokers who must furnish 1099-DA statements (for digital asset proceeds) to obtain **customer consent** for delivering statements electronically without being required to offer paper alternatives. It includes enhanced disclosure requirements, rules around software/hardware changes affecting access, and modified deadlines. Written comments were invited by May 5, 2026.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Treasury, IRS issue proposed regulations for Trump Accounts contribution pilot program, Treasury Department to deposit $1,000 into the account of each eligible child
Proposed regulations (IR-2026-31) released March 6, 2026 provide guidance for the new Trump Accounts Pilot Program including defining eligible children (born 2025-2028, U.S. citizens with SSN, no previous election), pilot-program electing individuals, timing and manner of elections, and rules around the one-time $1,000 contribution. Effective for elections made on or after January 1, 2026. Parents and guardians should follow rules and file Form 4547 to participate.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
International Tax Compliance (Amendment) Regulations 2025 widen CRS/FATCA & include Crypto Asset Reporting Framework
These regulations, enacted on 24 June 2025 and coming into force from 1 January 2026, amend the International Tax Compliance Regulations 2015. They incorporate OECD (2023) updates to the Common Reporting Standard, expand registration requirements for reporting financial institutions and trustee-documented trusts, require application of due diligence under updated standards (including for crypto assets via CARF), and impose enhanced penalties for failures in registration, reporting, or record-keeping.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Proposed regulations on the remittance transfer tax under the One, Big, Beautiful Bill
Beginning January 1, 2026, a 1% excise tax applies to certain remittances from the U.S. to foreign recipients when the sender uses physical instruments. The proposed regulations define scope, clarify definitions, and specify provider and sender obligations including reporting and deposit schedules. These are currently open for comment until June 12, 2026.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Canada Revenue Agency’s 2026–27 Departmental Plan
This plan sets out CRA’s enforcement and service delivery priorities, including stronger compliance (tackling aggressive GST/HST schemes and tax evasion), expanded digital services for managing tax debts, and automatic filing or pre-filled returns for low-income individuals as part of reducing compliance burden. It also reflects enacted changes like tax relief via the lowest personal income tax rate reduction and removal of certain taxes (fuel charge, luxury taxes, underused housing tax).
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: China
Status requires verification
财政部 税务总局关于离岸信托个人所得税有关事项的公告
Effective 2026-01-01, Chinese residents transferring assets into offshore trusts (or similar arrangements) and any income from them are taxable under Chinese individual income tax. Reporting and compliance are required, including disclosure of trust establishment, beneficiaries, valuations, financial statements; non-compliance triggers adjustments, penalties. Past periods (from 2023-01-01 to 2025-12-31) must be declared within 90 days of announcement. Secured by Finance Ministry & State Taxation Administration.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source