U.K. Lawmakers Attack Big 4 Accounting Firms in Push to Halt Profit Shifting
Members of Parliament, during a January 31 U.K. hearing, did their best to publicly shame representatives of Big Four accounting firms for devising schemes that help multinational corporations avoid...
View ArticleSwitzerland, U.S. Sign FATCA Agreement
The United States and Switzerland on February 14 signed an intergovernmental agreement (IGA) setting out the business-to-government approach to implementing the Foreign Account Tax Compliance Act....
View ArticleObama Proposes Tax Assistance for Economically Suffering 'Promise Zones'
President Obama on February 15 called for a set of tax breaks to help communities facing economic hardship as part of his broader set of initiatives aimed at creating jobs and assisting middle-income...
View ArticleU.K., Isle of Man Reach Tax Cooperation Agreement
The United Kingdom and the Isle of Man have settled on a tax cooperation deal, which includes an automatic exchange of information agreement as well as a disclosure facility for individuals seeking to...
View ArticleBowles and Simpson Release New Plan as Obama Urges 'Balanced' Sequester Offsets
Erskine Bowles and Alan Simpson, the co-chairs of President Obama's 2010 fiscal commission, on February 19 released the outline of a new proposal that they said would achieve $ 2.4 trillion in...
View ArticleOhio Governor Pushes Tax Reform in State of the State
Ohio Gov. John Kasich (R) made a pitch for his tax reform plan in his State of the State address late February 19. "Ohio's taxes are too high," Kasich told a joint session of the General Assembly....
View ArticleSupreme Court Digs Into Creditability of Foreign Taxes
The Supreme Court on February 20 heard arguments involving the creditability of a foreign tax, with the justices seeming divided as they grilled both parties on the substance of their arguments. The...
View ArticleView all the federal, state and international tax news headlines for February...
View all the federal tax news headlines for February 22nd from TaxAnalysts® on LexisNexis Tax CenterView all the state tax news headlines for February 22nd from TaxAnalysts® on LexisNexis Tax...
View ArticleFinnish Rules Denying Cross-Border Loss Relief in Merger Are Compatible With...
The European Court of Justice on February 21 held that Finland's rules denying the transfer of tax losses incurred by a nonresident subsidiary to its Finnish parent company in a cross-border merger do...
View ArticleMinnesota Governor Signs, Praises Federal Tax Conformity Bills
Minnesota Gov. Mark Dayton (DFL) has signed legislation conforming the state's tax code to many of the changes made to the IRC, and has highlighted how the legislation will simplify the filing process...
View ArticleHouse Oversight Committee Probing Contract Irregularities at IRS
The owner of a computer company under investigation by the House Oversight Committee for hundreds of millions of dollars in suspect contracts with the IRS said he will cooperate fully with...
View ArticleView all the federal, state and international tax news headlines for February...
View all the federal tax news headlines for February 25th from TaxAnalysts® on LexisNexis Tax CenterView all the state tax news headlines for February 25th from TaxAnalysts® on LexisNexis Tax...
View ArticleU.S. Seeking Transfer Pricing Safe Harbor MOUs With Canada, Other Trading...
The United States is holding preliminary discussions with Canada and other trading partners about entering into bilateral transfer pricing safe harbor memoranda of understanding similar to those in...
View ArticleNew Jersey Governor Announces Additional Tax Assistance Events for Storm Victims
New Jersey Gov. Chris Christie (R) has announced two additional free tax assistance outreach events in Monmouth and Atlantic counties on March 7 and March 12 for state residents to obtain free...
View ArticleIRS Appeals Ban on Preparer Oversight
The IRS has appealed the court order opinion that found it lacked legal authority to regulate unlicensed tax return preparers who are not attorneys, CPAs, or enrolled agents. After the District Court...
View ArticleView all the federal, state and international tax news headlines for February...
View all the federal tax news headlines for February 26th from TaxAnalysts® on LexisNexis Tax CenterView all the state tax news headlines for February 26th from TaxAnalysts® on LexisNexis Tax...
View ArticleEU Commissioner Advocates for Global Financial Transaction Tax
The new EU financial transaction tax (FTT) to be adopted by 11 EU member states will serve as an example that proves the viability of the tax in meeting policy and fiscal needs, EU Tax Commissioner...
View ArticleOhio Governor's Budget Calls for Small Claims Division at Board of Tax Appeals
A provision in the budget proposed by Ohio Gov. John Kasich (R) would establish a small claims division of the Board of Tax Appeals to hear appeals involving nonbusiness real property. HB 59 would also...
View ArticleTreasury May Take More Literal Approach to Active Trade or Business Guidance
Treasury is rethinking the purely purpose-based approach to applying section 355(b)(2)(C) and (D) in the proposed active trade or business (ATB) regulations, said Lisa Zarlenga, Treasury tax...
View ArticleView all the federal, state and international tax news headlines for February...
View all the federal tax news headlines for February 27th from TaxAnalysts® on LexisNexis Tax CenterView all the state tax news headlines for February 27th from TaxAnalysts® on LexisNexis Tax...
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