Avocado Roundup is a quick morning review of the day’s top tax, legal, and climate news stories. It’s written by humans.
- The Treasury Department’s slowness in implementing a 2021 law aimed at catching crypto tax cheats could end up costing the US billions in tax revenues next year. (Wall Street Journal)
- Treasury said the Internal Revenue Service plans to allow taxpayers to communicate digitally with the agency starting next year. As part of its effort to ease frustration with paper-based processing of returns, the agency aims to have paperless processing for all tax returns by the 2025 filing season. (Treasury.gov
- A new bill proposed by Senate Finance Chairman Ron Wyden (Dem-Oregon) would strip certain sovereign wealth funds of tax breaks under section 892 of the IRS Code. (National Law Review)
- With EU member states failing to agree on a minimum tax on kerosene used in commercial aircraft departing from Europe, France has announced that it will impose its own tax. (Ouest France
- European governments lost a collective 34.2 billion euros ($37.4 billion) in tax revenues last year by failing to tax the airline sector, according to a study by nongovernmental organization Transport & Environment. (Transport & Environment)
- Tour operators are cheering a decision by Germany’s Finance Ministry to put off until 2027 a value-added tax on vacations in the country. The measure, which likely would cause price hikes for German vacation packages purchased outside the country, would also require tour operators to register and file tax returns, according to a report. (Travel Weekly)
- Management-side worklaw firm Littler added special counsel Kimberly R. Ward in Birmingham, Alabama. She arrives from Ogletree Deakins. (Littler)
