Talking Tax

Mar 19 2025 378 ep. 15 mins 783
Talking Tax Podcast artwork

Talking Tax, from Bloomberg Tax, is a weekly discussion of the most pressing issues facing tax and accounting professionals. Each week the podcast features discussions with lawmakers, federal regulators, lawyers, and journalists. From the courts to Capitol Hill to the IRS, Talking Tax has it covered.

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Tax Cuts, Credits Hang in Balance for NY Budget Talks

Mar 19 2025 17 mins  
New York officials are in the final stage of the state’s budget process, following March 13 passage of the Assembly and Senate individual spending and revenue proposals for fiscal 2026. It's now up to a three-way negotiation between the Legislature's two chambers and Gov. Kathy Hochul (D), who has her own plans for a budget that’s likely to top $252 billion—including a host o

Tariffs Shake Up Companies' Transfer Pricing Planning

Mar 12 2025 24 mins  
Tax departments at multinational companies are scrambling to keep up with the Trump administration's tariff announcements as the updates pile in day to day and sudden shifts complicate transfer pricing calculations. Tariffs raise companies' costs, and those can't always be passed on to consumers—meaning businesses have to choose where to allocate the costs in their supply chains

Treasury Equity Hub Caught in Trump's DEI Crosshairs

Mar 05 2025 15 mins  
President Donald Trump's early executive order to end federal diversity, equity, and inclusion programs upended at least one team in the Treasury Department. The Treasury Equity Hub, formed in 2021, evaluated how effective the department's policies and programs were at reaching all types of Americans. Removing this team could hurt further research into racial disparities in IRS enf

US Audit Board's Future Depends on Trump, GOP Moves

Feb 26 2025 17 mins  
The US audit board has already been forced to revise its priorities as the Trump administration begins to reshape the federal government. The Public Company Accounting Oversight Board pulled an auditor disclosure rule that was set for SEC approval earlier this month. The audit board opted to delay finalizing another project that would expand how auditors consider the financial impa

How Budget Reconciliation Works for Tax Cut Extensions

Feb 19 2025 17 mins  
Republicans in Congress have been working to find consensus to cement tax code changes made in President Donald Trump’s first presidency and jump-start his new administration using the budget reconciliation process. The maneuver allows Republicans with full control of Washington to avoid the Senate’s filibuster, so they can effectively move legislation without Democrats’ supp

Companies Mull Gaps in Brazil's Transfer Pricing Rules

Feb 12 2025 10 mins  
Brazilian taxpayers and practitioners continue to clamor for more guidance on the country's new transfer pricing regime implemented last year. The country switched from a mathematical model to an arm's-length principle for transfer pricing last year, bringing it in line with global standards. That pivot left a lot of questions for the Receita Federal, the country’s revenue author

IRS Crypto Reporting Rules Face Industry, GOP Ire

Feb 05 2025 15 mins  
Treasury Department and IRS finalized rules requiring crypto exchanges to provide information on taxpayers’ buying and selling activities are meeting industry and Republican pushback. Centralized brokers must issue form 1099-DA, starting in 2026 for tax year 2025, and decentralized brokers are to start doing so in 2028 for tax year 2027. The form includes such things as personal

Ex-OECD Delegate Talks Global Tax Deal, Trump Memo

Jan 29 2025 17 mins  
President Donald Trump threw a major wrench into the fate of the OECD global tax deal on his first day in office, sparking concerns among the international tax community about the deal being fundamentally reshaped. Trump issued a presidential memo Jan. 20 stating the global tax deal has no "force or effect" in the US and instructed the Treasury Department to come up with a list of

Close Look at Pass-Through Tax Break Business Loves

Jan 22 2025 14 mins  
Few of the provisions of the tax code this year have garnered as much attention from industry as the about-to-sunset pass-through deduction. In their 2017 tax overhaul, Republicans allowed owners of pass-through businesses such as partnerships, S-corporations, and LLCs to deduct 20% of certain business income from their taxes. Businesses and their lobbyists say it gives those firms

Government Accounting Chair Eyes AI, Tech Integration

Jan 15 2025 18 mins  
The leader of a top US standard-setter wants his board to take the next step in using emerging technology to craft accounting rules for local and state governments. Joel Black, chair of the Governmental Accounting Standards Board, said a key priority for the board this year is shifting gears from monitoring emerging tools such as artificial intelligence to preparing for its future