2026
Consumers Paid Tariffs on Overseas Items. Now They Want a Refund.
Businesses and consumers who paid tariffs on imported goods are now seeking refunds after certain duties were ruled unlawful, highlighting the financial consequences of trade policy decisions.
Trump Faces 2,000 Tariff Lawsuits Following Supreme Court Loss
In the days since the US Supreme Court declared most of President Donald Trump’s global tariffs illegal, more than 100 companies filed new lawsuits, underscoring widespread concerns that the administration won’t readily refund the billions of dollars it’s already collected.
The Awkward Implications of an Undertaxed Profits Rule
The article explores the potential awkward legal outcomes of adopting the UTPR as an income tax, which could allow countries to tax activities they do not control or have authorized. The article considers alternative approaches to implementing the UTPR, such as civil penalty regimes or taxing deductible payments, to avoid these inconsistencies. It also examines the practical application of UTPR under the OECD's GLOBE rules and discusses its implications for multinational enterprises, particularly in cases like India, Australia, and Kenya.
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America First, Global Tax Deal Clash in Irreconcilable Conflict
President Donald Trump effectively upended a global minimum tax deal signed by nearly 140 countries on his first day back in office, declaring other countries shouldn’t decide how US multinationals will be taxed.
The $130 Billion Race for Companies to Get Their Tariff Money Back
This article examines widespread corporate litigation seeking refunds of tariffs imposed under executive authority later curtailed by the Supreme Court. The piece highlights the fiscal exposure facing the federal government and explores how invalidated cross-border levies functioned as de facto revenue measures with significant implications for international trade taxation.
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U.S. Focusing on OECD Guidance for Pillar 2 Side-by-Side Package
The U.S. is prioritizing guidance related to the OECD's Pillar 2 side-by-side package to ensure efficient global implementation of the GLOBE rules. Treasury official Isaac Wood highlighted the need for clarity in resolving technical gaps, such as those concerning intragroup financing and the side-by-side safe harbor. The U.S. remains heavily engaged in the technical aspects of Pillar 2 to address issues impacting U.S.-headquartered multinational enterprises and ensure alignment with domestic tax laws.
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Divisions Stark as UN Tax Treaty Drafting Deadlines Approach
Top negotiators at the United Nations in coming weeks will begin threading the needle between countries’ competing views of a new global tax treaty’s scale of ambition as deadlines for the deal’s first drafts draw near.
OECD, UN Should Align on Pro-Growth International Tax Reforms
Both the Organization for Economic Cooperation and Development, through the Inclusive Framework, and the United Nations, through negotiations for the Framework Convention on Tax Cooperation, are doing serious work in developing the most significant reforms to international taxation in a century.
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