Tax Notes Talk

Tax Notes contributing editor Robert Goulder discusses how Pope Leo XIV’s American citizenship creates a unique tax issue and how the United States may try to avoid taxing the pope.  For more coverage, read the following in Tax Notes:Expats Eye Pope's Tax Woes as Opportunity to Ditch Worldwide TaxAnalysis: The American Pope and Citizenship-Based TaxationFollow us on X:Robert Goulder: @RobertGoulderDavid Stewart: @TaxStewTax Notes: @TaxNotes**CreditsHost: David D. StewartExecutive Producers: Jeanne Rauch-Zender, Paige JonesProducers: Jordan Parrish, Peyton RhodesAudio Engineers: Jordan Parrish, Peyton Rhodes

Tax Notes contributing editor Ryan Finley discusses the current transfer pricing landscape, including where things stand in the Facebook and Coca-Cola cases. For more coverage, read the following from Finley in Tax Notes:Analysis: The CUT Method: It's Not What It Used to BeAnalysis: The CUT Method: Same as It Ever Was?Analysis: On Periodic Adjustments, Facebook Opinion Suggests A Middle RoadAnalysis: For the IRS, Facebook Is a Reminder to Stick to the ScriptAnalysis: Medtronic II: Do the Transfer Pricing Regs Swallow Themselves? Follow us on X:Ryan Finley: @RyanMFinleyDavid Stewart: @TaxStewTax Notes: @TaxNotes**CreditsHost: David D. StewartExecutive Producers: Jeanne Rauch-Zender, Paige JonesProducers: Jordan Parrish, Peyton RhodesAudio Engineers: Jordan Parrish, Peyton Rhodes

Join Ellen Aprill, a Senior Scholar at UCLA School of Law, as she dives into the intense legal battle between Harvard and the Trump administration over tax-exempt status. She unpacks the ramifications of potential revocation on nonprofit organizations, especially concerning funding and academic freedom. Topics include the processes of tax-exempt status audits, the implications of discrimination claims, and the broader impact on institutions. Aprill also discusses navigating compliance in a rapidly shifting public policy landscape.

Steve Kralik, Managing Director at Armanino Advisory, dives into the One Big Beautiful Bill Act and its significant ramifications on state tax, especially the SALT deduction cap. He discusses the challenges states face in adapting to the new legislation, including financial implications for vital programs like Medicaid. Kralik also explores the political landscape surrounding these changes and how they might reshape state tax systems, highlighting the need for clearer regulations as lawmakers navigate this complex terrain.

Alan Cole, a senior economist at the Tax Foundation, sheds light on the One Big Beautiful Bill Act's international tax provisions. He discusses crucial reforms like GILTI, FDII, and BEAT, emphasizing their impact on multinational corporations. The conversation dives into the contrasting House and Senate perspectives, revealing how political dynamics shaped legislative choices. Cole also examines changes in U.S. tax policy, particularly modifications to the CFC look-through rule, and the rising challenges of digital services taxes for U.S. businesses.

A House Ways and Means Committee member discusses the One Big Beautiful Bill Act and its significance for the GOP's tax agenda. The evolution of clean energy tax credits is scrutinized, along with innovations in sustainable aviation fuel. International tax policy, especially post-G7 agreements, reveals potential impacts on U.S. trade. The need for bipartisanship in tax discussions shines through, with contrasting priorities between parties and the importance of communicating with constituents. A balanced approach to economic growth and IRS reforms is also emphasized.

Steven Horsford, a US Representative from Nevada and a key member of the House Ways and Means Committee, dives into the New Democrat Coalition's tax strategies. He discusses a new tax framework aimed at bolstering working families and small businesses. The conversation highlights the need to revamp tax policies impacting tipped workers, scrutinizes recent gambling tax changes, and advocates for bipartisan solutions that prioritize healthcare, education, and equitable tax reforms for the middle class.

Cady Stanton and Katie Lobosco, both Capitol Hill reporters for Tax Notes, delve into the intricate journey of the One Big Beautiful Bill Act. They discuss pivotal provisions, highlighting the dramatic legislative maneuvers during the July recess and the significant role of the House Freedom Caucus. The chat gets spicy as they explore the repercussions of removing the controversial revenge tax. The duo also predicts the bill's fiscal impact, estimating a potential deficit rise of $3.4 to $4.5 trillion, and examines the polarized political responses.

Emily Hollingsworth, a Tax Notes reporter, and Ryan Minnick, COO at the Federation of Tax Administrators, delve into the growing role of artificial intelligence in state tax agencies. They discuss California's innovative AI initiatives aimed at enhancing taxpayer support and improving operational efficiency. The conversation highlights challenges of balancing transparency with data security, the importance of training staff, and insights from a survey on AI adoption for fraud detection. Their insights reveal how state agencies are navigating this technological transformation.

Tax Notes investigations editor Lauren Loricchio discusses Treasury’s information sharing agreement with the Department of Homeland Security and its implications for immigrants. Read Loricchio's full story in Tax Notes, "Information Sharing Deal Complicates Immigrant Return Filing."For more on what's been happening at the IRS, check out our previous episodes:Past IRS Commissioners Analyze Agency Changes Under TrumpIRS Automated Guidance: Pros and ConsBehind the Story: Investigating the Faults in the IRS's FOIA SystemThe Latest at the IRS: Personnel Changes, More Staff ReductionsFollow us on X:Lauren Loricchio: @LaurenLoricchioDavid Stewart: @TaxStewTax Notes: @TaxNotes**Have you or a peer made a lasting impact on state and local tax policy? Nominations for the 2025 Tax Analysts State and Local Tax Award of Distinction are open. For more information or to nominate someone, go to taxnotes.co/awards.***CreditsHost: David D. StewartExecutive Producers: Jasper B. Smith, Paige JonesProducers: Jordan Parrish, Peyton RhodesAudio Engineers: Jordan Parrish, Peyton Rhodes