Jose A. Otero

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Trump to keep Obama rule curbing corporate tax inversion deals

(This October 4 story fixes comment by Organization for International Investment as referring to historically foreign-based companies in paragraph 13.)<p>U.S. President Donald Trump and first lady Melania Trump board Air Force One as they depart Joint Base Andrews in Maryland, U.S., on their way to …

Donald Trump

The Whistleblower Behind Caterpillar’s Massive Tax Headache Could Make $600 Million

In the the spring of 2008, finance executives from Caterpillar Inc. gathered for a few days of meetings in the Peoria Civic Center, a few blocks from …

Donald Trump's tax plan would turn every US state into Kansas

The state has been mired in a perpetual budget crisis ever since the package passed, forcing its residents to swallow painful spending cuts in essential areas like education.<p>Kansas' credit rating has been downgraded, as well. The financial wreckage has been so severe that Brownback's fellow …

Income Tax

IRS still doesn't have enough auditors to close the $458 billion tax gap

While early forecasts suggested the IRS would be hit with a 14 percent reduction from 2017 levels, Treasury Secretary Steven Mnuchin apparently successfully intervened to blunt the cut. Trump sent a preliminary budget request to Congress last month proposing deep cuts in most agencies but seeking a …

Customer Service

Amazon.com wins $1.5 billion tax dispute over IRS

Amazon.com on Thursday won a more than $1.5 billion tax dispute with the Internal Revenue Service over transactions involving a Luxembourg unit more …

IRS Audits to Go After Offshore Earnings and Transfer Pricing

Agency has a new series of 13 audit campaigns narrower than previous broad approach<p>By<p>Vipal Monga<p>Vipal Monga<p>The Wall Street Journal<p>Biography<p>@vipalmonga<p>Google+<p>vipal.monga@wsj.com<p>The Internal Revenue Service has put companies on notice: It is targeting offshore earnings and transfer pricing as part of …

Internal Revenue Service

Tax News, Tax Articles and Information - Tax Notes

Tax Notes “publications are a unique national resource on the vital topic of the United States tax system.”<p><b>Tanina Rostain and Milton C. Regan, Jr.</b> in …

United States

Can GOP Tax Plan Stem Profit Shifting? Both Interest and Skepticism

A House Republican plan to radically overhaul the international tax system has raised ample interest—but also a lot of skepticism.<p>The plan, which …

Problems with Destination-Based Corporate Taxes and the Ryan Blueprint

23 Pages Posted: 15 Dec 2016 Last revised: 25 May 2017<p>University of Michigan Law School<p>Reed College - Department of Economics<p>Date Written: February …

Paul Ryan

House Republicans are proposing a big corporate tax cut that Walmart hates

If you ask an average American what policies from the Donald Trump administration they’re paying attention to, or care about, chances are they’ll answer with something like “building the wall” or “banning Muslim immigrants” or “repealing Obamacare” or “cozying up to Russia.”<p>If you ask corporate …

Locked content

Investing

Trump Administration: Tools to Modify Current Tax Guidance

The election of <i>Donald J. Trump</i> as the 45th President of the United States, along with the <i>Republican</i> control of the majority of both the <i>House</i> of …

A Detailed Analysis of IRS Notice 2016-66 re 831(b) Captives

On November 1, 2016, the IRS released Notice 2016-66, designating certain captive insurance companies that have made the 831(b) election as a “Transaction of Interest.”<p><b>What the Notice does (and doesn’t do)</b><p>In terms of total premium, the Notice affects only a relatively small part of the captive …

With Apple Ruling, European Commission Draws First Blood In Global Tax War

In case you missed it, the writing has officially been spray-painted on the walls of government corridors around the world: tax authorities are coming for big business, even if it means stirring new conflict with one another. The latest and most visible example of this, of course, has been the …

U.S.' Lew sees growing consensus for corporate tax-infrastructure deal

OXFORD, England (Reuters) - U.S. Treasury Secretary Jack Lew said on Monday he sees a growing bipartisan consensus in the U.S. Congress for using revenue from the repatriation of overseas corporate profits to fund infrastructure.<p>United States Secretary of the Treasury Jack Lew speaks at the Centre …

Economy

Here's Why Corporate Tax Inversions Don't Help All Corporate Shareholders

In the search for lower taxes, some corporations squeeze a portion of their investors.<p>Corporate tax inversions have been in the spotlight as a controversial strategy used by U.S. companies to ease the burden of the country's 35-percent corporate tax rate.<p>Typically, an inversion results when a U.S. …

Elizabeth Warren Warns Democrats Not To Cave On Corporate Tax Reform

Corporations are running out of places to hide, so Congress is trying to build them a shelter back home. Warren wants to stop it.<p>WASHINGTON ― Sen. Elizabeth Warren (D-Mass.) is gearing up for a major tax battle next year, warning Democrats not to cave to corporate pressure in a coming push for …

Treasury Flubs Golden Opportunity With Debt-Equity Regs

The section 385 regulations on the distinction between debt and equity are now final, and despite what tax advisers and Congress have been saying for months, the world did not come to an end. In fact, the barrage of negative comments and nasty letters from lawmakers profoundly affected Treasury, …

The U.S. Is Cracking Down on Corporate Tax Inversions

The Obama administration, in its latest bid to prevent American companies from minimizing U.S. taxes by rebasing abroad, issued final rules on …

Bulk of Apple’s profits belong in US, says OECD tax chief

Pascal Saint-Amans claims profits should be aligned to research and development<p>Mon, Sep 26, 2016, 18:08 Updated: Mon, Sep 26, 2016, 18:09<p>The bulk of …

What's next for Apple's €13bn tax battle?

Margrethe Vestager is on a US charm offensive, making the case about recovering alleged unpaid taxes – but she has been met with more offense than charm<p>In the wake of last month’s controversial decision by the European Commission to seek “recovery of illegal state aid” for alleged unpaid taxes in …

Transfer Pricing Rough Justice for Hemorrhaging States

Transfer Pricing<p>Aggressive transfer pricing has long been a fraught battleground for the Internal Revenue Service, which has lost several high …

New Jersey

With a New Name, MTC Transfer Pricing Program Moves Forward

Today, the Multistate Tax Commission's Transfer Pricing Committee voted to adopt an Information Exchange Agreement, which permits states to share…

President Obama Asks Congress for Crackdown on International Tax Evasion

President Obama on Friday urged Congress to enact measures to combat tax evasion by corporations and the rich, citing the Panama Papers as evidence of widespread financial corruption.<p>Obama, in remarks that traced his efforts to steer the U.S. economy from collapse in 2009, acknowledged that many …

The European Commission's War against Low Corporate Taxes

The EC wants growth-killing taxes higher in Ireland and Geneva.<p>I have a love-hate relationship with corporations.<p>On the plus side, I admire …

EU Commissioner Warns Other Firms Could Get Apple Tax Treatment

Other multinationals that do not employ as extreme Irish tax schemes as Apple but shift profits via the country to tax havens could also be breaching …

Commission decides selective tax advantages for Fiat in Luxembourg and Starbucks in the Netherlands are illegal under EU state aid rules

European - Press release Commission Brussels, 21 October 2015 The European Commission has decided that Luxembourg and the Netherlands have granted …

Europe