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United States News - Business, Taxation & Offshore


IRS To Close Carried Interest Loophole, Says Mnuchin

by Mike Godfrey, Tax-News.com, Washington

Last updated 2 hours ago | Wednesday, February 21, 2018

The Internal Revenue Service (IRS) will issue guidance soon to close a tax loophole that is said to be enabling hedge fund managers to access lower rates of tax reserved for carried interest.Read Full Story


Canada Considering Tax Response To Compete With US

by Mike Godfrey, Tax-News.com, Washington

Last updated 2 hours ago | Wednesday, February 21, 2018

The Canadian Government is conducting an analysis of the potential impact of the recent US tax reforms, Finance Minister Bill Morneau. Read Full Story


IRS Urged To Immediately Correct Staff Bonus Shortcomings

by Mike Godfrey, Tax-News.com, Washington

Last updated 30 hours ago | Tuesday, February 20, 2018

Kevin Brady, Chairman of the House Ways and Means Committee, and his counterpart in the Senate, Orrin Hatch, have called on the Internal Revenue Service to better screen bonuses paid to staff. Read Full Story


US Taxpayers 'Failing To Disclose Crypto Gains'

by Mike Godfrey, Tax-News.com, Washington

Last updated 30 hours ago | Tuesday, February 20, 2018

Very few US taxpayers are reporting cryptocurrency gains in their tax returns, according to preliminary figures published by a tax return preparation company. Read Full Story


IRS Issues Filing Tips Ahead Of Busy Tax Season Period

by Mike Godfrey, Tax-News.com, Washington

Saturday, February 17, 2018

The Internal Revenue Service (IRS) has offered taxpayers several tips and time-saving resources, in anticipation that there will be a surge in filing activity during President's Day weekend (February 17-19).Read Full Story


US House Approves Generalized System Of Preferences Bill

by Mike Godfrey, Tax-News.com, Washington

Wednesday, February 14, 2018

On February 13, 2018, the US House of Representatives voted 400-2 to pass a bipartisan bill to renew the Generalized System of Preferences.Read Full Story


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