Advice

Spain will introduce a digital services tax at the end of the year that would hit the revenue of companies such as Facebook Inc. and Alphabet Inc.’s Google in a move likely to draw the ire of the U.S. administration. The 3 percent levy won’t be implemented until December to allow the Organization for Economic

Want to open Pandora’s Box? Talk to a tax professional about digital services taxes. In nearly every incarnation they have taken on, digital services taxes have proven controversial. Whether domestically, where at least half of the states in the U.S. have made waves by enacting digital provisions of some kind, to foreign governments like France

Taxpayers prevailed in only 23 out of 55 (41.8 percent) of the significant tax cases involving state and local taxes in the fourth quarter of 2019, and for the entire year only 83 out of 218 (38.1 percent) of the significant tax cases in 2019, according to a recent analysis. The global law firm Eversheds

Tax season is the time of year when every other tax professional is focusing on completing returns for their clients, leaving the marketing field open and ready for you to dominate. With no competing messages to clutter up marketing channels, you can spend less to create more visibility for your firm. Of course, it can

The Internal Revenue Service could be doing more to help taxpayers who own Bitcoin and other forms of cryptocurrency to comply with their tax obligations, according to a new report from the Government Accountability Office. The report, issued Wednesday by the GAO, acknowledged that the IRS has provided some guidance in 2014 and 2019 on

Mark Zuckerberg for the first time said he supports efforts to create a global digital tax that would ultimately raise the amount Facebook Inc. pays to foreign countries, in a move that may boost efforts to put a new levy in effect by year-end. The tech giant’s chief executive will tell world leaders gathered at

The number of tax refunds issued so far this tax season is down almost 5 percent compared to last year, an indication that many Americans didn’t withhold enough from their paychecks and could face bills from the IRS. The IRS issued more than 10.8 million tax refunds through the week ending in Feb. 7, according

Tax-preparation software companies face headwinds for the revenue they get from each tax return this year due to the combined effect of a rising mix of free filings and lower need for services that assist do-it-yourself filers, according to Morgan Stanley. “A simplified tax code and greater free file scrutiny likely pushes the mix of

Numbers game; we have a loser; scrapped; and other highlights of recent tax cases. Philadelphia: Preparer Abdoulaye Coumbassa has been sentenced to two years in prison for aiding in the preparation of a false client tax return. Coumbassa, who pleaded guilty last year, owned and operated Abbi Tax Services and Accounting. From at least 2012

Sen. Ron Wyden, D-Ore., the top Democrat on the Senate Finance Committee, and Sen. Sherrod Brown, D-Ohio, have introduced legislation to block the Treasury Department from providing a way for multinational corporations to choose the lowest available tax rate. The legislation involves the provision in the Tax Cuts and Jobs Act of 2017 that imposes

A federal judge rejected Roger Stone’s claim that he deserved a new trial because a biased Internal Revenue Service employee sat on the jury that convicted him of lying to help President Donald Trump. U.S. District Judge Amy Berman Jackson’s ruling on the previously sealed request was made public on Wednesday, a day after four

The Internal Revenue Service introduced a new payment option in 2016 that lets individuals pay their taxes with cash at participating retail chains, but less than 700 payments have been made each year since the option was made available, according to a new report. The report, from the Treasury Inspector General for Tax Administration, noted

9. Starbucks offers a meditation app to their employees Think working at Starbucks is stressful? So does Starbucks. So much so that the company announced in a press release this past week that they have added Headspace — a meditation app that offers guided meditation — to the benefits that their employees will receive. The

The sharp divergence between Republicans and Democrats over the 21 percent corporate income tax rate was on display Tuesday at the House Ways and Means Committee as Democrats began making the case for a large increase should their party succeed in November’s elections. Several Democratic presidential candidates — including Senators Bernie Sanders, Elizabeth Warren, and

One way for C corporations to reduce taxable income is to utilize an interest charge – domestic international sales corporation (IC-DISC). However, when dealing with C corps, it is imperative the IC-DISC’s ownership structure is correctly established at the onset. In general, a C corporation does not realize a tax benefit by owning an IC-DISC

President Donald Trump has put impeachment behind him, but he’s got another battle ahead with Democrats that’s been brewing for almost a year: access to his tax returns. The fight now is playing out in the courts, including a Supreme Court argument set for March 31. House Democrats contend they need to pry free Trump’s

Two major issues dominated the conversation around state and local tax in 2019, according to Jamie Yesnowitz and the team at Grant Thornton’s SALT National Tax Office: the 2017 Tax Cuts and Jobs Act and the Supreme Court decision in South Dakota v. Wayfair Inc. in June 2018. They’ll both continue to have a major

Massachusetts Governor Charlie Baker recently released the 2021 budget proposal for the state, which includes a plan that will require businesses to remit sales tax from digital transactions on a daily basis. The two-phase plan will apply to electronically remitted sales and use tax, local option meals tax and room occupancy tax, and is slated

The complexity and insufficient oversight of the IRS’s Free File program, which is supposed to provide free tax software to most taxpayers, results in low taxpayer participation in the program, according to a new government report. The report, from the Treasury Inspector General for Tax Administration, comes in the wake of controversy that erupted over

The Further Consolidated Appropriations Act, enacted on Dec. 20, 2019, included a number of tax changes with retroactive impact, requiring taxpayers and their advisors to consider filing amended 2018 tax returns. These include 28 regularly expiring tax breaks that had expired at the end of 2017 and have been retroactively extended. A package of disaster