NEW: The Puerto Rico Treasury Department signed a three-month contract worth $680,000 with a consulting firm that brought in a former OECD official to develop a plan for implementing a 15% minimum tax on large multinational corporations. My latest story: news.bloombergtax.com/daily-tax-repo…

Tax lawyers and accountants have been waiting a long time for this one: The rules on how to figure and implement the new corporate minimum tax on book income are finally out. news.bloombergtax.com/daily-tax-repo…

Maine will soon shed some light on corporate tax base erosion through new tax transparency rules--and other states may join. See my story in Bloomberg Tax news.bloombergtax.com/daily-tax-repo…

NEW: Puerto Rico is increasing local tax incentives for opportunity zone projects, including an expansion by Chick-fil-A Inc., which tax policy analysts say is an unusual beneficiary for a program meant to spur economic development in low-income areas. news.bloombergtax.com/daily-tax-repo…

Just over a year ago I stumbled across a lawsuit involving OpenAI that nobody was paying attention to. The chain of events at the heart of it was... not the one I expected to find. The story of OpenAI vs Open AI (gift link): bloomberg.com/news/features/…

NEW: US House members are renewing a call to end a decade-old program offering substantial tax breaks to wealthy investors who relocate to Puerto Rico, introducing a congressional resolution to “swiftly address” what they called millions in lost revenue. news.bloombergtax.com/daily-tax-repo…

Designers and developers are adopting an age-old solution to missing-middle housing — courtyards. These are some of the best new courtyard projects in the US. A thread: bloomberg.com/news/features/…

Programming note: I’m joining Bloomberg @Tax as a reporter covering the fiscal cliff and all things tax on Capitol Hill. I can’t wait to write about the biggest story in Congress next year and all the power players making the decisions that affect your wallet.

from me:

Fascinating Bloomberg Law deep dive out of western New York from Beth Wang: news.bgov.com/states-of-play…

Coca-Cola has reserved for only a small amount of its potential $16 billion IRS bill - and it's not alone. My Bloomberg Tax deep dive into how some companies don't have enough reserves for what they may owe, and what it may mean for investors. Bloomberg Tax news.bloombergtax.com/daily-tax-repo…

Senate Republicans who supported the man Billy Long will replace, Danny Werfel, are already signaling they plan to support the former Congressman’s ascension as the nation’s top tax cop. w/ Erin Slowey Chris Cioffi

Puerto Rico Gov. Pedro Pierluisi has convened lawmakers for a special session beginning Dec. 9, excluding the global minimum tax from the agenda despite calling it a priority. Members of his party, including Gov.-elect Jenniffer González, have hesitated to act on it this year.

After nearly three years covering tax, I’m switching to Bloomberg Bloomberg Law to cover bankruptcy—corporations, high-profile individuals, and more. Puerto Rico’s bankruptcy sparked my interest in business reporting, and now I’m starting 2025 focusing on a subject I’m so interested in.

SCOOP - Many retirees wouldn’t pay income tax on their Social Security benefits under a new proposal from Sen. Marsha Blackburn and Dr. Roger Marshall news.bloombergtax.com/daily-tax-repo…

A growing number of multinational corporations seek to settle their back taxes under states’ voluntary disclosure programs, which limit fines and retroactive sales tax collection obligations. Some are from Canada, the UK, China, etc. My last Bloomberg Tax story: news.bloombergtax.com/daily-tax-repo…

Now that there's a more than 2% of a pretty big asteroid hitting Earth in 2032, it's a good time to re-up one of my favorite stories in recent years, on how NASA has been surprisingly slow to track potentially disastrous asteroids: bloomberg.com/news/articles/…

The thrust of this thread is that removing the I-81 from Syracuse is simultaneously gonna turn Syracuse into a ghost town because nobody will want to walk anywhere but also turn it into a crime-ridden hellhole because murderers will invade wealthy areas on foot. 🤔🤔🤔

It’s interesting that the thread lampooning “racist roads” also includes a concern that if you demolish this urban interstate, people from the bad side of town will start raping and pillaging the good side

NEW: Acting IRS Commissioner Doug O'Donnell is retiring. tinyurl.com/mtsjaaub