Corporate and cross-border tax.
Calendar-year 2025 corporate returns are due on extension in mid-October, but the international provisions CFOs must sign under, from section 898 to section 987, remain proposed rather than final.
As states extend sales tax to software, digital goods and targeted advertising, CFOs at AI-enabled businesses are accruing indirect tax exposure on revenue they never classified as taxable.
Treasury's second package of proposed corporate alternative minimum tax rules is not expected until 2027, which means a third year of 15% book minimum tax positions built on interim IRS notices.
US-parented groups won relief under the OECD side-by-side package, but American operations owned by foreign parents still face IIR and QDMTT top-up charges computed abroad on data their US finance teams must supply.
The $166 billion IEEPA refund wave is landing on 2026 income statements as a tax-benefit-rule inclusion, a revenue-classification judgment call and a customer claim - not a cash windfall.
Boards are spreading risk oversight beyond the audit committee, leaving finance to reconcile the same numbers for several committees just as the SEC moves toward charging individuals.
CFOs are cutting junior headcount and buying seniority in the 2027 plan, and the hiring market is already pricing in the shortage of leaders that decision creates.
Record money market fund balances sit on a short-end market the Fed has repeatedly had to support, and the September quarter-end repo print is the test treasurers should be writing into policy.