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The Internal Revenue Service and the Treasury Department issued a notice Wednesday saying they intend to issue proposed regulations withdrawing the disregarded payment loss rules for multinational companies.The DPL rules were released in January in the waning days of the Biden administration and prompted some negative comments. They aimed to prevent multinational companies from “double-dipping” their losses to offset their income in more than a single jurisdiction. However, they could also result in disregarded payments from a company’s disregarded foreign entities being included in a company’s taxable income.Notice 2025-44 announces that the Treasury and the IRS plan to issue proposed…

Half of Generation Z interns expect 20% of their jobs to be automated by artificial intelligence by the time they start full-time roles, according to a new survey.The 2025 edition of KPMG’s Intern Pulse Survey polled 1,117 KPMG US interns across the firm’s tax, audit, advisory and business process group functions. While interns expect portions of their jobs to be automated, 92% of respondents are confident in their ability to adapt to these advances in AI.”While headlines focus on fears of workers being replaced by AI, Gen Z talent joining the workforce in the coming years is challenging a deeper…

Jewelry is displayed at a Claire’s store in Novato, California, on June 23, 2025.Justin Sullivan | Getty ImagesClaire’s announced Wednesday it is selling most of its North American business to private equity firm Ames Watson, just weeks after the jewelry retailer declared bankruptcy.The companies did not disclose any financial details of the deal.Claire’s said the move comes as the tween retailer is examining every option to “maximize the value of its business.” It also said it will pause the liquidation process at most of its stores as part of the deal, which Claire’s said will “significantly benefit” the company.Claire’s said…

Shoppers come and go the TJ Maxx store at the Mall at Prince George’s on August 17, 2022 in Hyattsville, Maryland.Chip Somodevilla | Getty ImagesTJX Cos. on Wednesday reported earnings and revenue that beat Wall Street’s expectations and raised its full-year guidance, as the discounter behind T.J. Maxx, Marshalls and HomeGoods said it assumes it can offset higher costs from tariffs.TJX now expects full-year fiscal 2026 earnings will be between $4.52 and $4.57 per share, up from its prior guidance between $4.34 and $4.43 per share. The retailer also raised its comparable sales expectations to a 3% increase, versus prior…