Tax

Phone-sex workers sue for wages; American sports and betting; 10 states without budgets; and other highlights from our favorite tax bloggers.

Just because you have years of experience in an activity and have made an occasional profit at it doesn’t mean you have a profit motive, according to the Tax Court. And without a profit motive, you don’t get to deduct losses from the activity.

Tax executives are worried about some of the risks to their companies from the Organization of Economic Cooperation and Development’s Base Erosion and Profit Shifting project and U.S. tax reform proposals.

Accountants with clients in India are facing a new goods and services tax regime that launched in July.

The Internal Revenue Service has created a new section on its IRS.gov website dedicated to information on the Country-by-Country Reporting rules of the Organization for Economic Cooperation and Development’s Base Erosion and Profit Shifting project, which aims to discourage tax avoidance by multinational companies.

Senate Republican leaders trying to break a logjam on their proposed health-care legislation are working with congressional budget officials to examine the impact of various changes they’re considering, a process that could take about two weeks, according to a GOP aide.

As India prepares to launch its biggest tax reform since independence in 1947, businesses and citizens across the country are bracing for economic chaos.

Donald Trump on Friday said that if Republican senators can’t strike a deal on their health bill, they should immediately repeal Obamacare and then replace it later, a reversal of the president’s earlier position.

Moves for business and individual clients to make before Washington changes the code.

Not all tax pros are rejoicing about the court ruling striking down fees for the ID number.