If liberal and conservative advocacy groups can agree on anything, it’s this: A suite of more than three dozen or so corporate tax breaks that have expired over the past two years should stay dead. Even so, there’s a bipartisan push among some lawmakers to renew them — even if that push will likely fail.

The Trump administration is deep in talks with 129 other countries on implementing a new standard for taxing digital companies, including Alphabet Inc.’s Google, Facebook Inc. and Amazon.com Inc. —- but its heart lies elsewhere in the discussions. Rather than usher in with allies a new era of tech taxation, the U.S. goal is to

Multinational corporations got some long-awaited clarity from the IRS, which issued new rules on Friday clarifying how they must compute a new international tax. The rules explain how companies should calculate a complex new tax on GILTI, or global intangible low-taxed income. The regulations finalize previous proposals that give companies some leeway to allocate only

In 2014, executives of a San Francisco-based company that had been known since 2007 as Wealth & Tax Advisory Services organized a get-together to celebrate the rebranding of their business as Andersen Tax. The Chicago building housing the headquarters of Arthur Andersen in 2002 John Zich/Bloomberg News For around two dozen of these executives, the

The Treasury Department dealt the final blow to programs in states like New York and New Jersey designed to help residents circumvent the new $10,000 limit on deductions for state and local taxes. The regulations, issued Tuesday, prohibit workarounds that would allow residents to create charitable funds for a variety of programs where donors can

The Internal Revenue Service posted a special early draft of its publication on federal income tax withholding to give employers an advance look at the changes in the new Form W-4 that is being revised for 2017 tax law. Timothy Fadek/Bloomberg Publication 15-T, Federal Income Tax Withholding Methods, will be for use next year and

The accuracy of miscellaneous income statements submitted by federal agencies and other entities on the Form 1099-MISC has significantly improved, but better communication and outreach could further reduce the number of incorrect 1099-MISC statements filed each year, according to a new report. The report, from the Treasury Inspector General for Tax Administration, noted that entities

Dismal Data Book; another state to collect remote sales tax; new polish for old scams; and other highlights from our favorite tax bloggers. What is Uncle Sam’s cut? Turbotax (https://blog.turbotax.intuit.com/): In honor of National Children’s Day just passed, a look ahead at what having a child means for taxes. TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): A look at

In a case whose outcome was cited by a number of companies as a potential risk on their financial reports, the Ninth Circuit reversed the Tax Court and decided in favor of the Internal Revenue Service. The case involved how expenses are allocated between corporate domestic and overseas operations for a chip technology company that

The Internal Revenue Service may be short-staffed and have seen its budget cut, but Commissioner Charles Rettig believes he can both improve taxpayer and tax practitioner service, and up the agency’s enforcement game. “I’m an enforcement guy, I’m a taxpayer service guy — I hope to touch every aspect of the tax service,” he told

The American Institute of CPAs submitted more than 140 recommendations to the Internal Revenue Service regarding its 2019-20 Guidance Priority List, identifying and prioritizing guidance projects the AICPA believes the U.S. Department of the Treasury and the IRS should address. The AICPA believes these projects should be addressed through various means, including regulations, revenue rulings,

Maryland-based Los Taxes, which claims to be the first Latino tax franchisor founded in the U.S., has merged with Nevada-based Toro Taxes, which claims to be the largest Latino tax franchise in the country. This merger encompasses nearly 140 locations across 17 states. The new entity plans to continue to focus on the Latino market,

Good news for taxpayers in New York, New Jersey and California. House Democrats are going to start talking about rolling back a new limit on a popular break for state and local taxes. The House Ways and Means Committee will hold a hearing in late June to discuss a change in the 2017 Republican tax

Sen. Ron Wyden, D-Ore., the top Democrat on the Senate Finance Committee, has introduced legislation in response to the recent college admissions scandal that would end tax breaks for large donations to colleges and universities by wealthy families if they’re made to influence an admissions decision. The College Admissions Fairness Act would expand the Tax

The Internal Revenue Service tends to impose relatively few accuracy-related penalties during audits of large businesses, according to a new report. The report, from the Treasury Inspector General for Tax Administration, noted accuracy-related penalties are generally 20 percent of the underpayment of taxes due, and in certain cases, the penalty can be as high as

The Internal Revenue Service issued a warning Friday to taxpayers who haven’t yet filed their 2018 tax returns that they will face higher tax penalties if they owe taxes and haven’t filed by June 14. Andrew Harrer/Bloomberg The IRS lowered the threshold for imposing underwithholding and underpayment penalties earlier this year during tax season because

President Donald Trump’s trade wars have already wiped out all but $100 of the average American household’s windfall from Trump’s 2017 tax law. And that’s just the beginning. That last $100 in tax-cut gains also could soon disappear — and then some — because of additional tariffs Trump has announced or is considering. If the

Contemptible; an extensive history; energy crisis; and other highlights of recent tax cases. Pawtucket, Rhode Island: Former state senator and businessman James E. Doyle II, 47, has been sentenced to two years in prison for engaging in a $74 million dollar check-kiting scheme in which he wrote tens of thousands of worthless checks and failed

Most college majors don’t get students ready for handling taxes – and as they start new jobs, face a rapidly changing economy, and bear up under massive amounts of student loan debt, today’s college graduates can’t afford to ignore the perils, pitfalls and opportunities of the Tax Code. “College may have prepared you for your

A pair of lawmakers in Congress, Rep. Judy Chu, D-Calif., and Vern Buchanan, R-Fla., introduced bipartisan legislation Wednesday to fix a problem in the Tax Cuts and Jobs Act that makes it difficult for performing artists to deduct their work-related expenses. The bill, known as the Performing Artist Tax Parity Act, would update the Qualified